ProShares Ultra Correlations

EFO Etf

USD 76.20 0.98 1.30%

The current 90-days correlation between ProShares Ultra MSCI and SPDR SP International is 0.79 (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 MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra MSCI and DJI is 0.88 (i.e., Very poor 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

0.84	NRGU	Bank of Montreal	Pair Corr
0.73	GUSH	Direxion Daily SP	Pair Corr
0.84	ITWO	Proshares Russell 2000	Pair Corr
0.72	AMPD	Tidal ETF Services	Pair Corr
0.72	ELON	Battleshares TSLA	Pair Corr
0.91	CPST	Calamos ETF Trust	Pair Corr
0.97	CFA	VictoryShares 500	Pair Corr
0.85	IGEB	iShares Edge Investment	Pair Corr
0.92	ERET	iShares Environmentally	Pair Corr
0.97	HEEM	iShares Currency Hedged	Pair Corr
0.96	EAFG	Pacer Funds Trust	Pair Corr
0.98	SPDV	AAM SP 500	Pair Corr
0.99	STXV	EA Series Trust	Pair Corr
0.95	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.88	LALT	Invesco Multi Strategy	Pair Corr
0.94	DVYE	iShares Emerging Markets	Pair Corr
1.0	ESGD	iShares ESG Aware	Pair Corr
0.98	VYMI	Vanguard International	Pair Corr
0.98	DFE	WisdomTree Europe	Pair Corr
0.97	DXJ	WisdomTree Japan Hedged	Pair Corr
0.66	BDEC	Innovator SP 500	Pair Corr
0.88	GPGCX	Grandeur Peak Global	Pair Corr
0.97	TAXT	Northern Trust Tax	Pair Corr
0.98	CCNR	CoreCommodity Natural	Pair Corr
0.94	EMIF	iShares Emerging Markets	Pair Corr
0.94	IJS	iShares SP Small	Pair Corr
1.0	DFIC	Dimensional International	Pair Corr
0.72	PDEC	Innovator SP 500	Pair Corr
0.95	UEVM	VictoryShares Emerging	Pair Corr
0.97	MEXX	Direxion Daily MSCI	Pair Corr

Moving against ProShares Etf

0.82	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.79	MPAY	Exchange Traded Concepts	Pair Corr
0.31	TECL	Direxion Daily Technology	Pair Corr
0.63	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	DPST	GDXU	THYF	BUFF	SEIM	REZ	POCT	IVES	PJUN	GWX
DPST		0.59	0.86	0.79	0.73	0.39	0.71	-0.27	0.82	0.84	DPST
GDXU	0.59		0.81	0.77	0.81	0.29	0.73	0.14	0.79	0.81	GDXU
THYF	0.86	0.81		0.94	0.93	0.44	0.89	-0.04	0.97	0.94	THYF
BUFF	0.79	0.77	0.94		0.96	0.26	0.98	0.17	0.99	0.85	BUFF
SEIM	0.73	0.81	0.93	0.96		0.34	0.95	0.2	0.96	0.86	SEIM
REZ	0.39	0.29	0.44	0.26	0.34		0.17	-0.58	0.3	0.6	REZ
POCT	0.71	0.73	0.89	0.98	0.95	0.17		0.31	0.96	0.77	POCT
IVES	-0.27	0.14	-0.04	0.17	0.2	-0.58	0.31		0.11	-0.24	IVES
PJUN	0.82	0.79	0.97	0.99	0.96	0.3	0.96	0.11		0.88	PJUN
GWX	0.84	0.81	0.94	0.85	0.86	0.6	0.77	-0.24	0.88		GWX
	DPST	GDXU	THYF	BUFF	SEIM	REZ	POCT	IVES	PJUN	GWX

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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

PJUN	+ 0.99	BUFF
POCT	+ 0.98	BUFF
PJUN	+ 0.97	THYF
SEIM	+ 0.96	BUFF
PJUN	+ 0.96	SEIM
PJUN	+ 0.96	POCT

High negative correlations

IVES	- 0.58	REZ
IVES	- 0.27	DPST
GWX	- 0.24	IVES
IVES	- 0.04	THYF

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
DPST	3.19	0.37	0.17	0.20	3.35	(3.99)	8.58	(3.93)	26.82
GDXU	6.86	1.51	0.14	0.53	9.42	(6.69)	16.53	(17.75)	55.99
THYF	0.10	0.02	(0.56)	0.31	0.00	(0.13)	0.27	(0.17)	0.72
BUFF	0.22	0.01	(0.18)	0.14	0.18	(0.25)	0.48	(0.48)	1.38
SEIM	0.89	0.06	0.05	0.17	0.99	(1.00)	1.65	(1.83)	5.39
REZ	0.70	0.07	0.00	0.36	0.72	(0.71)	1.51	(1.39)	3.23
POCT	0.28	0.00	(0.14)	0.10	0.29	(0.30)	0.57	(0.60)	1.96
IVES	1.29	(0.15)	0.00	(0.03)	0.00	0.00	2.56	(3.23)	8.88
PJUN	0.16	0.01	(0.24)	0.16	0.00	(0.18)	0.39	(0.40)	1.18
GWX	0.62	0.23	0.24	0.51	0.29	(0.71)	1.62	(0.98)	3.25

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