ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Technology
ROM Etf  USD 47.84  1.75  3.80%   
The current 90-days correlation between ProShares Ultra Tech and ProShares Ultra Health is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Technology moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra Technology and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Technology and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Technology. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with ProShares Etf

  0.98SSO ProShares Ultra SP500PairCorr
  0.98SPXL Direxion Daily SP500PairCorr
  0.99QLD ProShares Ultra QQQPairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  1.0TECL Direxion Daily TechnologyPairCorr
  0.92LABU Direxion Daily SPPairCorr
  0.86GUSH Direxion Daily SPPairCorr
  0.67FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.81UYG ProShares Ultra FinaPairCorr
  0.9OIH VanEck Oil ServicesPairCorr
  0.95ARKW ARK Next GenerationPairCorr
  0.93WTMF WisdomTree ManagedPairCorr
  0.76EWC iShares MSCI CanadaPairCorr
  0.98BST BlackRock Science TechPairCorr
  0.68IRET iREIT MarketVectorPairCorr

Moving against ProShares Etf

  0.86UVXY ProShares Ultra VIX TrendingPairCorr
  0.86GBIL Goldman Sachs AccessPairCorr
  0.8XSVN Bondbloxx ETF TrustPairCorr
  0.79GUMI Goldman Sachs ETFPairCorr
  0.74MBSD FlexShares DisciplinedPairCorr
  0.6SDFI AB Active ETFs,PairCorr
  0.59FSBD Fidelity Sustainable CorePairCorr
  0.58EFAS Global X MSCIPairCorr
  0.54AMPS Altus PowerPairCorr
  0.54GDXU MicroSectors Gold MinersPairCorr
  0.52BSJP Invesco BulletShares 2025PairCorr
  0.52CDX Simplify Exchange TradedPairCorr
  0.51BSCX Invesco BulletShares 2033PairCorr
  0.42UNL United States 12 Downward RallyPairCorr
  0.36LIAQ Stone Ridge 2058PairCorr
  0.31MKC McCormick CompanyPairCorr
  0.95SPXU ProShares UltraPro Short TrendingPairCorr
  0.86BSV Vanguard Short TermPairCorr
  0.84XFIV Bondbloxx ETF TrustPairCorr
  0.82IBND SPDR Bloomberg InterPairCorr
  0.81STOT SPDR DoubleLine ShortPairCorr
  0.8ISTB iShares Core 1PairCorr

Related Correlations Analysis

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ProShares Ultra Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Ultra ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ProShares Ultra's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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