ProShares Ultra Correlations

SAA Etf

USD 23.46 0.21 0.90%

The current 90-days correlation between ProShares Ultra Smal and ProShares Ultra MidCap400 is 0.96 (i.e., Almost no 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

Very poor diversification

The correlation between ProShares Ultra SmallCap600 and DJI is 0.87 (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 SmallCap600 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

0.97	SSO	ProShares Ultra SP500	Pair Corr
0.97	SPXL	Direxion Daily SP500	Pair Corr
0.96	QLD	ProShares Ultra QQQ	Pair Corr
0.85	NRGU	Bank of Montreal	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.96	TECL	Direxion Daily Technology	Pair Corr
0.63	LABU	Direxion Daily SP	Pair Corr
0.81	GUSH	Direxion Daily SP	Pair Corr
0.96	UYG	ProShares Ultra Fina	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.97	SPY	SPDR SP 500	Pair Corr
0.97	IVV	iShares Core SP	Pair Corr
0.97	VTV	Vanguard Value Index	Pair Corr
0.96	VUG	Vanguard Growth Index	Pair Corr
0.98	VO	Vanguard Mid Cap	Pair Corr
0.91	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.99	VB	Vanguard Small Cap	Pair Corr
0.95	VWO	Vanguard FTSE Emerging	Pair Corr
0.92	KEMQ	KraneShares Emerging	Pair Corr
0.78	KWEB	KraneShares CSI China	Pair Corr
0.95	AXP	American Express	Pair Corr
0.93	CSCO	Cisco Systems	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.89	MMM	3M Company	Pair Corr
0.96	CAT	Caterpillar	Pair Corr
0.84	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.9	DIS	Walt Disney	Pair Corr
0.93	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.81	IBM	International Business	Pair Corr

Moving against ProShares Etf

0.55	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.57	KO	Coca Cola	Pair Corr
0.44	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	MVV	UXI	UCC	UGE	UPW
MVV		0.97	0.95	-0.16	0.83	MVV
UXI	0.97		0.96	-0.14	0.86	UXI
UCC	0.95	0.96		-0.12	0.83	UCC
UGE	-0.16	-0.14	-0.12		0.1	UGE
UPW	0.83	0.86	0.83	0.1		UPW
	MVV	UXI	UCC	UGE	UPW

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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

UXI	+ 0.97	MVV
UCC	+ 0.96	UXI
UCC	+ 0.95	MVV
UPW	+ 0.86	UXI
UPW	+ 0.83	MVV
UPW	+ 0.83	UCC

High negative correlations

UGE	- 0.16	MVV
UGE	- 0.14	UXI
UGE	- 0.12	UCC

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
MVV	1.47	0.01	0.15	0.20	1.39	(1.72)	4.37	(2.58)	12.26
UXI	1.30	0.26	0.38	0.34	0.57	(1.72)	3.31	(1.69)	9.48
UCC	1.78	0.08	0.16	0.23	1.80	(1.95)	4.02	(3.04)	14.88
UGE	1.06	(0.21)	0.00	(0.04)	0.00	0.00	2.15	(2.18)	7.10
UPW	1.22	0.10	0.02	0.35	1.64	(1.17)	2.41	(2.68)	8.47

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