ProShares Ultra Correlations

EFO Etf

USD 71.07 0.72 1.02%

The current 90-days correlation between ProShares Ultra MSCI and ProShares Ultra 7 10 is 0.16 (i.e., Average 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 MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Almost no diversification

The correlation between ProShares Ultra MSCI and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra MSCI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.77	SSO	ProShares Ultra SP500	Pair Corr
0.74	SPXL	Direxion Daily SP500	Pair Corr
0.73	UPRO	ProShares UltraPro SP500	Pair Corr
0.68	LABU	Direxion Daily SP	Pair Corr
0.86	TOT	Advisor Managed Port	Pair Corr
0.86	SHLD	Global X Defense	Pair Corr
0.69	LUX	Tema Global	Pair Corr
0.88	FB	ProShares Trust ProShares	Pair Corr
0.88	SWP	SWP Growth Income	Pair Corr
0.63	FNGD	MicroSectors FANG Index	Pair Corr
0.86	CALY	Callaway Golf Symbol Change	Pair Corr
0.66	EIPX	First Trust Exchange	Pair Corr
0.92	BRHY	BlackRock High Yield	Pair Corr
0.86	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.74	WMT	Walmart Common Stock	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.63	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.92	BA	Boeing	Pair Corr
0.7	INTC	Intel	Pair Corr

Moving against ProShares Etf

0.73	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.76	T	ATT Inc Earnings Call This Week	Pair Corr
0.39	MMM	3M Company	Pair Corr

Related Correlations Analysis

	TTT	HDMV	EET	UXI	XPP	BCIM	FLSA	SSG	AMDG	UST
TTT		0.54	0.34	0.5	-0.51	0.78	-0.62	-0.19	-0.57	-0.67	TTT
HDMV	0.54		0.81	0.86	0.11	0.4	-0.06	-0.55	-0.09	-0.44	HDMV
EET	0.34	0.81		0.87	0.36	0.04	0.32	-0.73	0.25	-0.51	EET
UXI	0.5	0.86	0.87		0.17	0.27	0.05	-0.7	0.02	-0.5	UXI
XPP	-0.51	0.11	0.36	0.17		-0.7	0.67	-0.39	0.67	0.21	XPP
BCIM	0.78	0.4	0.04	0.27	-0.7		-0.79	0.04	-0.79	-0.3	BCIM
FLSA	-0.62	-0.06	0.32	0.05	0.67	-0.79		-0.25	0.9	0.04	FLSA
SSG	-0.19	-0.55	-0.73	-0.7	-0.39	0.04	-0.25		-0.35	0.31	SSG
AMDG	-0.57	-0.09	0.25	0.02	0.67	-0.79	0.9	-0.35		0.01	AMDG
UST	-0.67	-0.44	-0.51	-0.5	0.21	-0.3	0.04	0.31	0.01		UST
	TTT	HDMV	EET	UXI	XPP	BCIM	FLSA	SSG	AMDG	UST

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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

AMDG	+ 0.9	FLSA
UXI	+ 0.87	EET
UXI	+ 0.86	HDMV
EET	+ 0.81	HDMV
BCIM	+ 0.78	TTT
FLSA	+ 0.67	XPP

High negative correlations

AMDG	- 0.79	BCIM
FLSA	- 0.79	BCIM
SSG	- 0.73	EET
BCIM	- 0.7	XPP
SSG	- 0.7	UXI
UST	- 0.67	TTT

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
TTT	1.23	0.23	0.10	(0.26)	1.08	(1.46)	3.07	(1.75)	6.36
HDMV	0.42	0.05	0.03	0.20	0.39	(0.44)	0.90	(0.92)	2.28
EET	1.33	0.31	0.18	0.72	1.19	(1.50)	3.17	(2.38)	7.00
UXI	1.41	0.04	0.05	0.09	1.86	(1.43)	2.75	(3.39)	7.75
XPP	1.68	(0.06)	(0.02)	0.02	1.94	(1.76)	3.14	(2.89)	11.50
BCIM	0.55	0.09	0.03	(34.06)	0.59	(0.65)	1.49	(1.38)	4.28
FLSA	0.69	0.00	(0.07)	(0.10)	0.84	(0.73)	1.54	(1.48)	4.29
SSG	3.06	(0.17)	0.00	0.14	0.00	0.00	7.72	(6.03)	17.90
AMDG	4.85	0.07	0.03	0.09	6.12	(4.97)	12.76	(9.68)	33.49
UST	0.37	(0.06)	0.00	(0.39)	0.00	0.00	0.55	(0.85)	2.11

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