ProShares UltraPro Correlations

Etfs . USA . 
Etf . ProShares UltraPro Short
SPXU Etf  USD 22.94  0.55  2.46%   
The current 90-days correlation between ProShares UltraPro Short and ProShares UltraPro Short is -0.07 (i.e., Good 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

Significant diversification

The correlation between ProShares UltraPro Short and DJI is 0.07 (i.e., Significant diversification) 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.
  
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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

  0.88SH ProShares Short SP500PairCorr
  0.87PSQ ProShares Short QQQPairCorr
  0.88SDS ProShares UltraShort Potential GrowthPairCorr
  0.86SPXS Direxion Daily SPPairCorr
  0.86QID ProShares UltraShort QQQPairCorr
  0.85RWM ProShares Short Russ Sell-off TrendPairCorr
  0.97SPDN Direxion Daily SPPairCorr
  0.76TAIL Cambria Tail RiskPairCorr
  0.91DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.78IBM International BusinessPairCorr
  0.77CAT Caterpillar Sell-off TrendPairCorr
  0.34ARKC ARK 21Shares ActivePairCorr
  0.84AXP American ExpressPairCorr
  0.83BAC Bank of America Aggressive PushPairCorr
  0.8DIS Walt Disney Buyout TrendPairCorr
  0.8HD Home Depot Earnings Call This WeekPairCorr
  0.79HPQ HP IncPairCorr
  0.75WMT WalmartPairCorr
  0.75GE GE AerospacePairCorr
  0.72MSFT Microsoft Aggressive PushPairCorr
  0.71DD Dupont De Nemours Potential GrowthPairCorr
  0.7BA Boeing Sell-off TrendPairCorr
  0.62PFE Pfizer 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
+ 0.98
SQQQ
SPXS
+ 0.96
SDOW
SQQQ
+ 0.9
SDOW
SRTY
+ 0.88
SDOW
SRTY
+ 0.85
SPXS
SRTY
+ 0.77
SQQQ
  
High negative correlations   
UPRO
- 0.94
SDOW
SRTY
- 0.91
UPRO
SPXS
- 0.87
UPRO
UPRO
- 0.77
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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