ProShares Ultra Correlations

SSO Etf

USD 95.38 0.97 1.03%

The current 90-days correlation between ProShares Ultra SP500 and ProShares Ultra QQQ is 0.95 (i.e., Almost no 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 SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra SP500 and DJI is 0.84 (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 SP500 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 SP500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

1.0	SPXL	Direxion Daily SP500	Pair Corr
0.98	QLD	ProShares Ultra QQQ Sell-off Trend	Pair Corr
1.0	UPRO	ProShares UltraPro SP500	Pair Corr
0.91	TECL	Direxion Daily Technology	Pair Corr
0.95	FNGU	MicroSectors FANG Index Sell-off Trend	Pair Corr
0.86	UYG	ProShares Ultra Fina	Pair Corr
0.89	ARKW	ARK Next Generation	Pair Corr
0.9	EWC	iShares MSCI Canada Sell-off Trend	Pair Corr
0.93	BST	BlackRock Science Tech	Pair Corr
1.0	SPY	SPDR SP 500	Pair Corr
0.96	PPA	Invesco Aerospace Defense	Pair Corr
0.91	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.82	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.61	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.93	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.72	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.65	T	ATT Inc Aggressive Push	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.74	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.75	DIS	Walt Disney Aggressive Push	Pair Corr
0.82	WMT	Walmart Aggressive Push	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.83	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against ProShares Etf

0.66	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.6	NRGU	Bank Of Montreal	Pair Corr
0.31	IRET	Tidal Trust II	Pair Corr
0.71	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.69	KO	Coca Cola Aggressive Push	Pair Corr
0.55	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	QLD	DDM	SDS	UYG	QID
QLD		0.9	-0.98	0.79	-1.0	QLD
DDM	0.9		-0.96	0.89	-0.9	DDM
SDS	-0.98	-0.96		-0.84	0.98	SDS
UYG	0.79	0.89	-0.84		-0.78	UYG
QID	-1.0	-0.9	0.98	-0.78		QID
	QLD	DDM	SDS	UYG	QID

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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

QID	+ 0.98	SDS
DDM	+ 0.9	QLD
UYG	+ 0.89	DDM
UYG	+ 0.79	QLD

High negative correlations

QID	- 1.0	QLD
SDS	- 0.98	QLD
SDS	- 0.96	DDM
QID	- 0.9	DDM
UYG	- 0.84	SDS
QID	- 0.78	UYG

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
QLD	1.60	(0.05)	0.01	0.06	2.42	(1.48)	3.15	(4.83)	10.27
DDM	1.07	0.00	0.07	0.09	1.02	(1.12)	2.08	(1.94)	8.76
SDS	1.11	0.01	0.00	0.08	0.00	0.00	2.61	(2.19)	9.05
UYG	1.42	0.15	0.17	0.15	1.26	(1.57)	2.77	(2.52)	15.62
QID	1.59	0.06	0.00	0.06	0.00	0.00	4.93	(3.05)	11.55

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