ProShares Ultra Correlations

SSO Etf  USD 100.31  0.88  0.89%   
The current 90-days correlation between ProShares Ultra SP500 and ProShares Ultra QQQ is -0.09 (i.e., Good 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

Almost no diversification

The correlation between ProShares Ultra SP500 and DJI is 0.92 (i.e., Almost no 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

  0.98SPXL Direxion Daily SP500PairCorr
  0.98QLD ProShares Ultra QQQPairCorr
  0.87NRGU Bank of MontrealPairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  0.98TECL Direxion Daily TechnologyPairCorr
  0.69LABU Direxion Daily SPPairCorr
  0.89GUSH Direxion Daily SPPairCorr
  0.96UYG ProShares Ultra FinaPairCorr
  1.0VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500PairCorr
  1.0IVV iShares Core SPPairCorr
  0.63BND Vanguard Total BondPairCorr
  0.97VTV Vanguard Value IndexPairCorr
  0.98VUG Vanguard Growth IndexPairCorr
  0.98VO Vanguard Mid CapPairCorr
  0.96VEA Vanguard FTSE DevelopedPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.97VWO Vanguard FTSE EmergingPairCorr
  0.94IBM International Business Earnings Call This WeekPairCorr
  0.93MMM 3M Company Earnings Call TomorrowPairCorr
  0.98BAC Bank of America Sell-off TrendPairCorr
  0.95GE GE Aerospace Earnings Call This WeekPairCorr
  0.93AA Alcoa CorpPairCorr
  0.88PFE Pfizer IncPairCorr
  0.98CAT CaterpillarPairCorr
  0.96DIS Walt DisneyPairCorr
  0.98MSFT Microsoft Sell-off TrendPairCorr
  0.98JPM JPMorgan Chase Sell-off TrendPairCorr
  0.98AXP American Express Earnings Call TomorrowPairCorr

Moving against ProShares Etf

  0.58FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.63MCD McDonalds Sell-off TrendPairCorr
  0.47PG Procter GamblePairCorr
  0.46KO Coca Cola Earnings Call This WeekPairCorr

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   
QIDSDS
UYGDDM
DDMQLD
UYGQLD
  
High negative correlations   
UYGSDS
QIDQLD
SDSQLD
QIDUYG
SDSDDM
QIDDDM

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.