ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Russell2000
UWM Etf  USD 40.42  0.05  0.12%   
The current 90-days correlation between ProShares Ultra Russ and ProShares Ultra MidCap400 is 0.96 (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 Russell2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra Russell2000 and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Russell2000 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 Russell2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with ProShares Etf

  0.62SSO ProShares Ultra SP500 Sell-off TrendPairCorr
  0.98SPXL Direxion Daily SP500 Sell-off TrendPairCorr
  0.84QLD ProShares Ultra QQQPairCorr
  0.77NRGU Bank of MontrealPairCorr
  0.62UPRO ProShares UltraPro SP500 Sell-off TrendPairCorr
  0.85TECL Direxion Daily TechnologyPairCorr
  0.75LABU Direxion Daily SPPairCorr
  0.75GUSH Direxion Daily SPPairCorr
  0.79UYG ProShares Ultra FinaPairCorr
  0.61VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.61SPY SPDR SP 500 Sell-off TrendPairCorr
  0.61IVV iShares Core SP Sell-off TrendPairCorr
  0.64VTV Vanguard Value IndexPairCorr
  0.61VB Vanguard Small CapPairCorr
  0.62KEMQ KraneShares EmergingPairCorr
  0.67CAT Caterpillar Earnings Call This WeekPairCorr
  0.74CVX Chevron Corp Earnings Call This WeekPairCorr
  0.68DD Dupont De Nemours Earnings Call TodayPairCorr

Moving against ProShares Etf

  0.6TRV The Travelers CompaniesPairCorr
  0.54MCD McDonaldsPairCorr
  0.43PG Procter Gamble Earnings Call TodayPairCorr
  0.38VZ Verizon CommunicationsPairCorr
  0.33KO Coca ColaPairCorr
  0.32WMT Walmart Aggressive PushPairCorr

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   
SAA
+ 0.99
MVV
DDM
+ 0.82
SAA
DDM
+ 0.81
MVV
UYM
+ 0.65
SAA
UYM
+ 0.6
MVV
UYM
+ 0.6
DDM
  
High negative correlations   
TWM
- 0.98
SAA
TWM
- 0.97
MVV
TWM
- 0.83
DDM
UYM
- 0.65
TWM

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.

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