ProShares UltraPro Correlations

UPRO Etf  USD 99.22  0.06  0.06%   
The current 90-days correlation between ProShares UltraPro SP500 and ProShares UltraPro Dow30 is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraPro SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraPro Correlation With Market

Very poor diversification

The correlation between ProShares UltraPro SP500 and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro 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 UltraPro 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 metropolitan statistical area.

Moving together with ProShares Etf

  1.0SSO ProShares Ultra SP500 Sell-off TrendPairCorr
  1.0SPXL Direxion Daily SP500 Sell-off TrendPairCorr
  1.0QLD ProShares Ultra QQQPairCorr
  0.83NRGU Bank of MontrealPairCorr
  0.99TECL Direxion Daily TechnologyPairCorr
  0.65LABU Direxion Daily SPPairCorr
  0.82GUSH Direxion Daily SPPairCorr
  0.95UYG ProShares Ultra FinaPairCorr
  1.0VTI Vanguard Total Stock Sell-off TrendPairCorr
  1.0SPY SPDR SP 500 Sell-off TrendPairCorr
  1.0IVV iShares Core SP Sell-off TrendPairCorr
  0.61BND Vanguard Total BondPairCorr
  0.99VTV Vanguard Value IndexPairCorr
  0.99VUG Vanguard Growth IndexPairCorr
  0.99VO Vanguard Mid CapPairCorr
  0.97VEA Vanguard FTSE DevelopedPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.98VWO Vanguard FTSE EmergingPairCorr
  0.97KEMQ KraneShares EmergingPairCorr
  0.8KWEB KraneShares CSI ChinaPairCorr
  0.93AXP American ExpressPairCorr
  0.97CSCO Cisco SystemsPairCorr
  0.94GE GE AerospacePairCorr
  0.86MMM 3M CompanyPairCorr
  0.98CAT CaterpillarPairCorr
  0.86CVX Chevron Corp Earnings Call This WeekPairCorr
  0.93DIS Walt DisneyPairCorr
  0.89DD Dupont De Nemours Earnings Call TomorrowPairCorr
  0.85IBM International BusinessPairCorr

Moving against ProShares Etf

  0.59FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.73MCD McDonaldsPairCorr
  0.58KO Coca ColaPairCorr
  0.42PG Procter Gamble Earnings Call TomorrowPairCorr

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   
URTYTNA
TNAUDOW
URTYUDOW
TQQQUDOW
TNATQQQ
URTYTQQQ
  
High negative correlations   
TQQQSPXU
URTYSPXU
TNASPXU
SPXUUDOW

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.