ProShares UltraPro Correlations

Etfs . USA . 
Etf . ProShares UltraPro Short
SPXU Etf  USD 16.41  0.19  1.17%   
The current 90-days correlation between ProShares UltraPro Short and ProShares UltraPro Short is 0.96 (i.e., Almost no diversification). The correlation of ProShares UltraPro 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraPro Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraPro Short and DJI is -0.96 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Short 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 UltraPro Short. 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

  0.95SH ProShares Short SP500PairCorr
  0.99PSQ ProShares Short QQQPairCorr
  1.0SDS ProShares UltraShortPairCorr
  1.0SPXS Direxion Daily SP Aggressive PushPairCorr
  1.0QID ProShares UltraShort QQQPairCorr
  0.93RWM ProShares Short RussPairCorr
  1.0SPDN Direxion Daily SPPairCorr
  0.98TAIL Cambria Tail RiskPairCorr
  0.92DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.98DIVS SmartETFs DividendPairCorr
  0.95ROM ProShares Ultra TechPairCorr
  0.95XSD SPDR SP SemiconductorPairCorr
  0.94TECL Direxion Daily TechnologyPairCorr
  0.94QLD ProShares Ultra QQQPairCorr
  0.94SMH VanEck Semiconductor ETF Sell-off TrendPairCorr
  0.94SOXX iShares Semiconductor ETF Sell-off TrendPairCorr
  0.93GBTC Grayscale Bitcoin TrustPairCorr
  0.93UPRO ProShares UltraPro SP500PairCorr
  0.93SPXL Direxion Daily SP500PairCorr
  0.91USD ProShares Ultra SemiPairCorr
  0.9BENJ Horizon FundsPairCorr
  0.96BBCA JPMorgan BetaBuildersPairCorr
  0.95MSFT MicrosoftPairCorr
  0.95BAC Bank of America Earnings Call This WeekPairCorr
  0.95JPM JPMorgan Chase Earnings Call This WeekPairCorr
  0.93DIS Walt DisneyPairCorr
  0.93CAT CaterpillarPairCorr
  0.92MMM 3M Company Earnings Call This WeekPairCorr
  0.92CSCO Cisco SystemsPairCorr
  0.89IBM International BusinessPairCorr
  0.82Z Zillow Group ClassPairCorr
  0.81PFE Pfizer Inc Aggressive PushPairCorr
  0.77HD Home DepotPairCorr
  0.76WMT WalmartPairCorr
  0.71INTC Intel Aggressive PushPairCorr
  0.65CVX Chevron CorpPairCorr
  0.58XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.47HPQ HP IncPairCorr

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   
SPXS
+ 1.0
SQQQ
SRTY
+ 0.99
SPXS
SQQQ
+ 0.98
SDOW
SPXS
+ 0.98
SDOW
SRTY
+ 0.98
SQQQ
SRTY
+ 0.97
SDOW
  
High negative correlations   
SRTY
- 0.93
UPRO
SPXS
- 0.93
UPRO
UPRO
- 0.93
SDOW
UPRO
- 0.92
SQQQ

ProShares UltraPro Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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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