ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Basic
UYM Etf  USD 24.90  0.16  0.65%   
The current 90-days correlation between ProShares Ultra Basic and ProShares Ultra Real is 0.61 (i.e., Poor 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 Basic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra Basic and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Basic 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 Basic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with ProShares Etf

  0.96SSO ProShares Ultra SP500PairCorr
  0.97SPXL Direxion Daily SP500PairCorr
  0.95QLD ProShares Ultra QQQPairCorr
  0.86NRGU Bank of MontrealPairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.95TECL Direxion Daily TechnologyPairCorr
  0.73LABU Direxion Daily SPPairCorr
  0.84GUSH Direxion Daily SPPairCorr
  0.94UYG ProShares Ultra FinaPairCorr
  0.96VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.96SPY SPDR SP 500 Sell-off TrendPairCorr
  0.96IVV iShares Core SP Sell-off TrendPairCorr
  0.97VTV Vanguard Value IndexPairCorr
  0.95VUG Vanguard Growth IndexPairCorr
  0.97VO Vanguard Mid CapPairCorr
  0.94VEA Vanguard FTSE DevelopedPairCorr
  0.97VB Vanguard Small CapPairCorr
  0.94VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.88IBM International Business Earnings Call This WeekPairCorr
  0.9MMM 3M CompanyPairCorr
  0.94BAC Bank of AmericaPairCorr
  0.89GE GE Aerospace Earnings Call This WeekPairCorr
  0.92AA Alcoa CorpPairCorr
  0.91PFE Pfizer IncPairCorr
  0.95CAT CaterpillarPairCorr
  0.9DIS Walt DisneyPairCorr
  0.92MSFT MicrosoftPairCorr
  0.94JPM JPMorgan ChasePairCorr
  0.95AXP American ExpressPairCorr

Moving against ProShares Etf

  0.53FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.6MCD McDonaldsPairCorr
  0.48KO Coca Cola Earnings Call This WeekPairCorr
  0.47PG Procter GamblePairCorr

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   
UCC
+ 0.97
UXI
UPW
+ 0.9
UXI
UCC
+ 0.89
UPW
UPW
+ 0.74
URE
UXI
+ 0.68
URE
UCC
+ 0.67
URE
  
High negative correlations   
UGE
- 0.14
UXI
UCC
- 0.11
UGE

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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