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.
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Moving together with ProShares Etf
0.98 | SPXL | Direxion Daily SP500 | PairCorr |
0.98 | QLD | ProShares Ultra QQQ | PairCorr |
0.87 | NRGU | Bank of Montreal | PairCorr |
0.98 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.98 | TECL | Direxion Daily Technology | PairCorr |
0.69 | LABU | Direxion Daily SP | PairCorr |
0.89 | GUSH | Direxion Daily SP | PairCorr |
0.96 | UYG | ProShares Ultra Fina | PairCorr |
1.0 | VTI | Vanguard Total Stock | PairCorr |
0.98 | SPY | SPDR SP 500 | PairCorr |
1.0 | IVV | iShares Core SP | PairCorr |
0.63 | BND | Vanguard Total Bond | PairCorr |
0.97 | VTV | Vanguard Value Index | PairCorr |
0.98 | VUG | Vanguard Growth Index | PairCorr |
0.98 | VO | Vanguard Mid Cap | PairCorr |
0.96 | VEA | Vanguard FTSE Developed | PairCorr |
0.99 | VB | Vanguard Small Cap | PairCorr |
0.97 | VWO | Vanguard FTSE Emerging | PairCorr |
0.94 | IBM | International Business Earnings Call This Week | PairCorr |
0.93 | MMM | 3M Company Earnings Call Tomorrow | PairCorr |
0.98 | BAC | Bank of America Sell-off Trend | PairCorr |
0.95 | GE | GE Aerospace Earnings Call This Week | PairCorr |
0.93 | AA | Alcoa Corp | PairCorr |
0.88 | PFE | Pfizer Inc | PairCorr |
0.98 | CAT | Caterpillar | PairCorr |
0.96 | DIS | Walt Disney | PairCorr |
0.98 | MSFT | Microsoft Sell-off Trend | PairCorr |
0.98 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
0.98 | AXP | American Express Earnings Call Tomorrow | PairCorr |
Moving against ProShares Etf
0.58 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
0.63 | MCD | McDonalds Sell-off Trend | PairCorr |
0.47 | PG | Procter Gamble | PairCorr |
0.46 | KO | Coca Cola Earnings Call This Week | PairCorr |
Related Correlations Analysis
0.95 | -0.97 | 0.92 | -0.97 | QLD | ||
0.95 | -0.96 | 0.96 | -0.95 | DDM | ||
-0.97 | -0.96 | -0.97 | 1.0 | SDS | ||
0.92 | 0.96 | -0.97 | -0.96 | UYG | ||
-0.97 | -0.95 | 1.0 | -0.96 | 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
| High negative correlations
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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 | 1.73 | 0.58 | 0.14 | (1.68) | 2.04 | 4.64 | 10.91 | |||
DDM | 1.42 | 0.00 | 0.08 | 0.16 | 1.68 | 2.97 | 9.44 | |||
SDS | 1.36 | (0.20) | 0.00 | 0.27 | 0.00 | 2.29 | 11.16 | |||
UYG | 1.53 | 0.05 | 0.11 | 0.19 | 1.65 | 3.49 | 10.74 | |||
QID | 1.61 | (0.33) | 0.00 | 0.33 | 0.00 | 2.63 | 14.08 |