ProShares Ultra Correlations

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The current 90-days correlation between ProShares Ultra Smal and ProShares Ultra MidCap400 is -0.14 (i.e., Good diversification). The correlation of ProShares Ultra is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra SmallCap600 and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra SmallCap600 and DJI in the same portfolio, assuming nothing else is changed.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Ultra SmallCap600. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with ProShares Etf

  0.96SSO ProShares Ultra SP500PairCorr
  0.96SPXL Direxion Daily SP500PairCorr
  0.97QLD ProShares Ultra QQQPairCorr
  0.86NRGU Bank of MontrealPairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  0.96TECL Direxion Daily TechnologyPairCorr
  0.62LABU Direxion Daily SPPairCorr
  0.85GUSH Direxion Daily SPPairCorr
  0.93UYG ProShares Ultra FinaPairCorr
  0.96VTI Vanguard Total StockPairCorr
  0.96SPY SPDR SP 500PairCorr
  0.96IVV iShares Core SPPairCorr
  0.95VTV Vanguard Value Index Sell-off TrendPairCorr
  0.96VUG Vanguard Growth IndexPairCorr
  0.96VO Vanguard Mid CapPairCorr
  0.92VEA Vanguard FTSE DevelopedPairCorr
  0.97VB Vanguard Small CapPairCorr
  0.95VWO Vanguard FTSE EmergingPairCorr
  0.88IBM International Business Earnings Call TomorrowPairCorr
  0.9MMM 3M CompanyPairCorr
  0.94BAC Bank of AmericaPairCorr
  0.9GE GE Aerospace Earnings Call TodayPairCorr
  0.91AA Alcoa CorpPairCorr
  0.83PFE Pfizer IncPairCorr
  0.95CAT CaterpillarPairCorr
  0.92DIS Walt DisneyPairCorr
  0.94MSFT Microsoft Aggressive PushPairCorr
  0.95JPM JPMorgan Chase Sell-off TrendPairCorr
  0.94AXP American ExpressPairCorr

Moving against ProShares Etf

  0.54FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.59MCD McDonaldsPairCorr
  0.55KO Coca Cola Earnings Call TodayPairCorr
  0.53PG Procter Gamble Earnings Call This WeekPairCorr
  0.33VZ Verizon Communications Aggressive PushPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
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UPWUXI
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High negative correlations   
UGEMVV
UGEUXI
UGEUCC

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.