ProShares Ultra Correlations

UBT Etf

USD 18.11 0.08 0.44%

The correlation of ProShares Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra 20 and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra 20 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 Ultra 20. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with ProShares Etf

1.0	TMF	Direxion Daily 20	Pair Corr
0.77	TYD	Direxion Daily 7	Pair Corr
0.68	UST	ProShares Ultra 7	Pair Corr
0.72	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.67	FDVV	Fidelity High Dividend	Pair Corr
0.62	VNGLF	Vanguard Funds Public	Pair Corr
0.61	SEPU	AllianzIM Equity Buffer15	Pair Corr
0.77	SMH	VanEck Semiconductor ETF Sell-off Trend	Pair Corr
0.66	AVSE	Avantis Responsible	Pair Corr
0.77	DDEC	First Trust Exchange	Pair Corr
0.74	BSMT	Invesco BulletShares 2029	Pair Corr
0.62	GPIX	Goldman Sachs SP	Pair Corr
0.71	DGRO	iShares Core Dividend	Pair Corr
0.76	VONE	Vanguard Russell 1000	Pair Corr
0.71	VTHR	Vanguard Russell 3000	Pair Corr
0.75	VPL	Vanguard FTSE Pacific	Pair Corr
0.76	VXUS	Vanguard Total Inter Sell-off Trend	Pair Corr
0.67	XT	iShares Exponential	Pair Corr
0.76	WINN	Harbor Long Term	Pair Corr
0.89	BHK	BlackRock Core Bond	Pair Corr
0.7	GDXY	YieldMax Gold Miners	Pair Corr
0.74	IMOM	Alpha Architect Inte	Pair Corr
0.68	GSST	Goldman Sachs Access	Pair Corr
0.65	IETC	iShares Evolved Tech	Pair Corr
0.8	VONG	Vanguard Russell 1000	Pair Corr
0.64	NATO	Themes Transatlantic	Pair Corr
0.62	PLDR	Putnam Sustainable	Pair Corr
0.88	SPTS	SPDR Barclays Short	Pair Corr

Moving against ProShares Etf

0.42

VIXY

ProShares VIX Short

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.17	0.07	-0.07	0.65	-0.37	-0.46	-0.07	-0.41	-0.21	META
MSFT	0.17		-0.14	-0.16	-0.48	0.01	-0.27	-0.02	-0.12	-0.27	MSFT
UBER	0.07	-0.14		0.79	0.11	0.53	-0.45	0.73	0.36	0.64	UBER
F	-0.07	-0.16	0.79		0.02	0.71	-0.46	0.64	0.61	0.61	F
T	0.65	-0.48	0.11	0.02		-0.43	-0.07	-0.05	-0.27	0.02	T
A	-0.37	0.01	0.53	0.71	-0.43		-0.35	0.62	0.72	0.57	A
CRM	-0.46	-0.27	-0.45	-0.46	-0.07	-0.35		-0.26	-0.17	-0.06	CRM
JPM	-0.07	-0.02	0.73	0.64	-0.05	0.62	-0.26		0.21	0.84	JPM
MRK	-0.41	-0.12	0.36	0.61	-0.27	0.72	-0.17	0.21		0.27	MRK
XOM	-0.21	-0.27	0.64	0.61	0.02	0.57	-0.06	0.84	0.27		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.84	JPM
F	+ 0.79	UBER
JPM	+ 0.73	UBER
MRK	+ 0.72	A
A	+ 0.71	F
T	+ 0.65	META

High negative correlations

T	- 0.48	MSFT
CRM	- 0.46	F
CRM	- 0.46	META
CRM	- 0.45	UBER
A	- 0.43	T
MRK	- 0.41	META

ProShares Ultra Competition 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
META	1.30	0.01	0.00	0.06	1.49	(1.44)	2.18	(2.32)	15.10
MSFT	0.75	(0.02)	(0.05)	0.01	0.97	(0.74)	1.86	(1.64)	6.50
UBER	1.40	0.00	(0.01)	0.05	1.95	(1.33)	3.62	(3.30)	8.86
F	1.13	0.06	0.04	0.10	1.51	(1.20)	2.98	(1.83)	9.82
T	0.84	(0.02)	0.00	0.66	0.00	0.00	1.82	(2.30)	6.47
A	1.44	0.23	0.18	0.19	1.14	(1.64)	3.82	(2.15)	10.46
CRM	1.47	(0.13)	0.00	(0.11)	0.00	0.00	2.76	(3.33)	8.74
JPM	0.81	(0.01)	(0.01)	0.04	1.13	(0.80)	1.69	(1.91)	4.93
MRK	1.27	0.04	0.02	0.09	1.31	(1.44)	2.91	(2.36)	9.11
XOM	0.92	(0.01)	(0.02)	0.03	1.38	(0.83)	1.72	(2.42)	4.70

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