ProShares Ultra Correlations

DIG Etf

USD 43.17 0.68 1.60%

The current 90-days correlation between ProShares Ultra Oil and ProShares UltraShort Oil is -1.0 (i.e., Pay attention - limited upside). 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.

ProShares Ultra Correlation With Market

Modest diversification

The correlation between ProShares Ultra Oil and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Oil and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Oil. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with ProShares Etf

0.92	GUSH	Direxion Daily SP	Pair Corr
0.89	OIH	VanEck Oil Services	Pair Corr
0.71	EWC	iShares MSCI Canada	Pair Corr
0.82	HUM	Humana Inc Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.69	IAUF	IShares	Pair Corr
0.48	FNGU	MicroSectors FANG Index	Pair Corr
0.38	TSL	GraniteShares 125x Long	Pair Corr
0.36	TFLO	iShares Treasury Floating	Pair Corr
0.36	MINT	PIMCO Enhanced Short	Pair Corr
0.32	SPYG	SPDR Portfolio SP	Pair Corr
0.31	BRLN	Blackrock ETF Trust	Pair Corr
0.48	FNGS	MicroSectors FANG ETN	Pair Corr
0.46	XONE	Bondbloxx Bloomberg One	Pair Corr
0.4	STK	Columbia Seligman Premium	Pair Corr
0.4	YEAR	AB Ultra Short	Pair Corr
0.39	SEIX	Virtus ETF Trust	Pair Corr
0.36	FLDR	Fidelity Low Duration	Pair Corr

Related Correlations Analysis

	DUG	UYM	UYG	URE	DDM
DUG		-0.59	-0.56	-0.58	-0.59	DUG
UYM	-0.59		0.02	0.94	0.36	UYM
UYG	-0.56	0.02		0.2	0.88	UYG
URE	-0.58	0.94	0.2		0.5	URE
DDM	-0.59	0.36	0.88	0.5		DDM
	DUG	UYM	UYG	URE	DDM

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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

URE	+ 0.94	UYM
DDM	+ 0.88	UYG
DDM	+ 0.5	URE
DDM	+ 0.36	UYM
URE	+ 0.2	UYG
UYG	+ 0.02	UYM

High negative correlations

DDM	- 0.59	DUG
UYM	- 0.59	DUG
URE	- 0.58	DUG
UYG	- 0.56	DUG

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
DUG	1.65	(0.01)	0.00	0.02	0.00	0.00	4.38	(2.81)	13.71
UYM	1.41	(0.28)	0.00	(0.47)	0.00	0.00	2.40	(2.54)	8.86
UYG	1.47	0.20	0.10	0.28	1.81	(1.59)	2.71	(2.76)	18.43
URE	1.86	(0.15)	0.00	(0.19)	0.00	0.00	2.78	(4.17)	11.37
DDM	1.20	0.01	0.01	0.01	1.42	(1.38)	2.09	(2.00)	12.21

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