ProShares Ultra Correlations

XPP Etf

USD 26.98 0.08 0.30%

The current 90-days correlation between ProShares Ultra FTSE and ProShares Ultra Industrials is 0.42 (i.e., Very weak diversification). 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

Very weak diversification

The correlation between ProShares Ultra FTSE and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra FTSE and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in ProShares Ultra FTSE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with ProShares Etf

0.68	SHLD	Global X Defense	Pair Corr
0.77	HD	Home Depot	Pair Corr
0.7	PG	Procter Gamble	Pair Corr
0.66	BA	Boeing	Pair Corr

Moving against ProShares Etf

0.73	LABU	Direxion Daily SP	Pair Corr
0.69	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.53	LUX	Tema Global	Pair Corr
0.34	SWP	SWP Growth Income	Pair Corr
0.34	SUSL	iShares ESG MSCI	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.66	KO	Coca Cola	Pair Corr
0.62	MRK	Merck Company	Pair Corr
0.59	AA	Alcoa Corp	Pair Corr
0.55	WMT	Walmart Aggressive Push	Pair Corr
0.47	AXP	American Express	Pair Corr
0.46	MMM	3M Company	Pair Corr
0.45	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.43	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	UXI	EFO	MCH	HDG	JPSV	BAIG	QTJL	AUGZ	QTJA	JANZ
UXI		0.75	0.59	0.6	0.4	0.31	0.6	0.59	0.32	0.61	UXI
EFO	0.75		0.35	0.8	0.29	-0.03	0.76	0.73	0.63	0.79	EFO
MCH	0.59	0.35		0.03	0.12	0.31	0.08	0.13	-0.2	0.14	MCH
HDG	0.6	0.8	0.03		0.07	-0.08	0.92	0.9	0.87	0.93	HDG
JPSV	0.4	0.29	0.12	0.07		-0.03	0.23	0.14	0.09	0.13	JPSV
BAIG	0.31	-0.03	0.31	-0.08	-0.03		-0.22	-0.2	-0.45	-0.21	BAIG
QTJL	0.6	0.76	0.08	0.92	0.23	-0.22		0.95	0.91	0.97	QTJL
AUGZ	0.59	0.73	0.13	0.9	0.14	-0.2	0.95		0.87	0.96	AUGZ
QTJA	0.32	0.63	-0.2	0.87	0.09	-0.45	0.91	0.87		0.9	QTJA
JANZ	0.61	0.79	0.14	0.93	0.13	-0.21	0.97	0.96	0.9		JANZ
	UXI	EFO	MCH	HDG	JPSV	BAIG	QTJL	AUGZ	QTJA	JANZ

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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

JANZ	+ 0.97	QTJL
JANZ	+ 0.96	AUGZ
AUGZ	+ 0.95	QTJL
JANZ	+ 0.93	HDG
QTJL	+ 0.92	HDG
QTJA	+ 0.91	QTJL

High negative correlations

QTJA	- 0.45	BAIG
QTJL	- 0.22	BAIG
JANZ	- 0.21	BAIG
AUGZ	- 0.2	BAIG
QTJA	- 0.2	MCH
BAIG	- 0.08	HDG

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
UXI	1.32	(0.07)	0.00	0.03	1.79	(1.28)	2.35	(2.99)	6.60
EFO	1.13	(0.04)	0.00	0.04	1.43	(1.11)	2.16	(2.44)	5.15
MCH	0.90	(0.10)	0.00	(0.06)	0.00	0.00	1.52	(1.65)	7.53
HDG	0.24	0.00	(0.12)	0.06	0.29	(0.24)	0.53	(0.57)	1.50
JPSV	0.71	(0.08)	0.00	(0.02)	0.00	0.00	1.74	(1.65)	4.23
BAIG	10.54	0.60	0.09	0.15	10.60	(11.99)	32.00	(18.13)	66.83
QTJL	0.44	0.00	(0.03)	0.07	0.63	(0.43)	0.87	(1.01)	2.97
AUGZ	0.50	(0.01)	(0.04)	0.06	0.74	(0.46)	1.11	(1.19)	3.47
QTJA	0.24	0.02	(0.05)	0.13	0.26	(0.25)	0.72	(0.55)	1.97
JANZ	0.44	(0.01)	(0.04)	0.05	0.62	(0.45)	1.01	(1.21)	2.63

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