ProShares Ultra Correlations

AGQ Etf

USD 120.06 13.10 9.84%

The current 90-days correlation between ProShares Ultra Silver and Goldman Sachs ActiveBeta is -0.23 (i.e., Very good 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 Silver and DJI is 0.55 (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 Silver and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.61	UGL	ProShares Ultra Gold	Pair Corr
0.73	DGP	DB Gold Double	Pair Corr
0.91	GDXU	MicroSectors Gold Miners	Pair Corr
0.82	SHNY	Microsectors Gold	Pair Corr
0.67	MUU	Direxion Daily MU	Pair Corr
0.68	MULL	GraniteShares 2x Long	Pair Corr
0.87	JNUG	Direxion Daily Junior	Pair Corr
0.86	NUGT	Direxion Daily Gold	Pair Corr
0.65	GAPR	First Trust Exchange	Pair Corr
0.65	PMAY	Innovator SP 500	Pair Corr
0.66	XAUG	FT Cboe Vest	Pair Corr
0.61	WDNA	WisdomTree BioRevolution	Pair Corr
0.73	IAUM	iShares Gold Trust	Pair Corr
0.75	TLCI	Touchstone ETF Trust	Pair Corr
0.71	PSFD	Pacer Swan SOS	Pair Corr
0.65	UMAY	Innovator ETFs Trust	Pair Corr

Moving against ProShares Etf

0.35

XLU

Utilities Select Sector Aggressive Push

Pair Corr

Related Correlations Analysis

	COMT	HEZU	LONZ	EUSB	IAK	ISHG	GIGB	QQH	GSSC
COMT		0.77	0.57	0.38	-0.19	0.7	0.41	-0.16	0.57	COMT
HEZU	0.77		0.85	0.34	0.06	0.61	0.34	0.06	0.78	HEZU
LONZ	0.57	0.85		0.02	0.02	0.39	0.02	0.36	0.67	LONZ
EUSB	0.38	0.34	0.02		0.04	0.67	0.97	-0.37	0.53	EUSB
IAK	-0.19	0.06	0.02	0.04		0.02	-0.04	-0.04	-0.09	IAK
ISHG	0.7	0.61	0.39	0.67	0.02		0.69	-0.12	0.72	ISHG
GIGB	0.41	0.34	0.02	0.97	-0.04	0.69		-0.26	0.59	GIGB
QQH	-0.16	0.06	0.36	-0.37	-0.04	-0.12	-0.26		0.17	QQH
GSSC	0.57	0.78	0.67	0.53	-0.09	0.72	0.59	0.17		GSSC
	COMT	HEZU	LONZ	EUSB	IAK	ISHG	GIGB	QQH	GSSC

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

GIGB	+ 0.97	EUSB
LONZ	+ 0.85	HEZU
GSSC	+ 0.78	HEZU
HEZU	+ 0.77	COMT
GSSC	+ 0.72	ISHG
ISHG	+ 0.7	COMT

High negative correlations

QQH	- 0.37	EUSB
QQH	- 0.26	GIGB
IAK	- 0.19	COMT
QQH	- 0.16	COMT
QQH	- 0.12	ISHG
GSSC	- 0.09	IAK

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
COMT	0.88	0.08	0.03	0.92	1.07	(0.94)	1.77	(1.65)	5.80
HEZU	0.58	0.06	0.06	0.12	0.65	(0.63)	1.44	(1.04)	4.61
LONZ	0.07	0.01	(0.23)	0.78	0.00	(0.08)	0.16	(0.10)	0.60
EUSB	0.14	0.02	(0.14)	(0.41)	0.00	(0.18)	0.28	(0.27)	0.59
IAK	0.66	0.04	0.01	0.15	0.75	(0.71)	1.27	(0.91)	5.19
ISHG	0.25	0.05	0.06	0.47	0.00	(0.34)	0.71	(0.29)	2.20
GIGB	0.16	0.03	(0.08)	(0.71)	0.00	(0.18)	0.35	(0.32)	0.85
QQH	1.04	(0.04)	0.00	(0.17)	0.00	0.00	1.96	(2.98)	6.95
GSSC	0.83	0.18	0.15	(1.12)	0.69	(1.02)	2.01	(1.41)	4.78

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