ProShares Ultra Correlations

RXL Etf

USD 43.35 1.00 2.36%

The current 90-days correlation between ProShares Ultra Health and ProShares Ultra Consumer is -0.03 (i.e., Good 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 Health moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra Health and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Health and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Health. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with ProShares Etf

0.77	SSO	ProShares Ultra SP500	Pair Corr
0.78	SPXL	Direxion Daily SP500	Pair Corr
0.71	QLD	ProShares Ultra QQQ	Pair Corr
0.78	UPRO	ProShares UltraPro SP500	Pair Corr
0.73	TECL	Direxion Daily Technology	Pair Corr
0.81	LABU	Direxion Daily SP	Pair Corr
0.81	GUSH	Direxion Daily SP	Pair Corr
0.75	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.74	UYG	ProShares Ultra Fina	Pair Corr
0.79	LUX	Tema ETF Trust	Pair Corr
0.8	SWP	SWP Growth Income	Pair Corr
0.95	DUKH	Ocean Park High	Pair Corr
0.73	WINN	Harbor Long Term	Pair Corr
0.93	SMI	VanEck Vectors ETF	Pair Corr

Moving against ProShares Etf

0.65	SHLD	Global X Funds	Pair Corr
0.82	IAUM	iShares Gold Trust Potential Growth	Pair Corr
0.82	GLDM	SPDR Gold MiniShares Potential Growth	Pair Corr
0.82	BWX	SPDR Bloomberg Inter	Pair Corr
0.6	SMDD	ProShares UltraPro Short Downward Rally	Pair Corr
0.53	ZBIO	Zenas BioPharma, Common	Pair Corr
0.5	SLQD	iShares 0 5	Pair Corr
0.48	QQQW	AXS Investments	Pair Corr
0.41	SCHJ	Schwab 1 5	Pair Corr
0.82	IAU	iShares Gold Trust Potential Growth	Pair Corr
0.7	STIP	iShares 0 5	Pair Corr
0.52	IDLV	Invesco SP International	Pair Corr
0.49	TYA	Simplify Exchange Traded	Pair Corr
0.47	ISHFF	iShares IV Public	Pair Corr
0.36	SCHY	Schwab International	Pair Corr

Related Correlations Analysis

	UGE	UPW	UCC	UXI	ROM
UGE		0.53	0.13	0.25	0.2	UGE
UPW	0.53		0.53	0.7	0.65	UPW
UCC	0.13	0.53		0.92	0.95	UCC
UXI	0.25	0.7	0.92		0.95	UXI
ROM	0.2	0.65	0.95	0.95		ROM
	UGE	UPW	UCC	UXI	ROM

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UGE	1.83	0.19	0.08	0.10	2.46	(1.88)	3.13	(3.47)	11.66
UPW	1.78	0.25	0.08	0.10	2.81	(1.67)	3.89	(4.18)	15.48
UCC	3.12	(0.10)	0.00	(0.16)	0.00	0.00	4.89	(7.60)	29.84
UXI	2.40	0.20	0.00	(0.03)	0.00	0.00	3.90	(4.63)	23.34
ROM	3.48	0.18	0.00	(0.06)	0.00	0.00	5.66	(8.39)	35.39

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