ProShares Ultra Correlations

LTL Etf

USD 29.24 0.00 0.00%

The current 90-days correlation between ProShares Ultra Tele and Cambria Cannabis ETF is 0.01 (i.e., Significant 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 Telecommunications moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra Telecommunicat and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Telecommunicat and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.81	SSO	ProShares Ultra SP500	Pair Corr
0.8	SPXL	Direxion Daily SP500	Pair Corr
0.78	UPRO	ProShares UltraPro SP500	Pair Corr
0.75	UYG	ProShares Ultra Fina	Pair Corr
0.75	CPST	Calamos ETF Trust	Pair Corr
0.71	ITDD	iShares Trust	Pair Corr
0.61	FLXR	TCW ETF Trust	Pair Corr
0.67	BAC	Bank of America Aggressive Push	Pair Corr
0.65	AXP	American Express	Pair Corr

Moving against ProShares Etf

0.64	MPAY	Exchange Traded Concepts	Pair Corr
0.4	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.36	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	UCC	UPW	DUG	OVS	SHRY	DFVE	LST	EPV	PEMX	TOKE
UCC		-0.43	-0.33	0.7	0.73	0.7	0.7	-0.71	0.56	0.7	UCC
UPW	-0.43		0.47	-0.67	-0.6	-0.7	-0.69	0.67	-0.48	-0.49	UPW
DUG	-0.33	0.47		-0.71	-0.66	-0.76	-0.78	0.77	-0.88	-0.14	DUG
OVS	0.7	-0.67	-0.71		0.93	0.99	0.96	-0.92	0.77	0.56	OVS
SHRY	0.73	-0.6	-0.66	0.93		0.94	0.93	-0.92	0.75	0.65	SHRY
DFVE	0.7	-0.7	-0.76	0.99	0.94		0.98	-0.96	0.82	0.58	DFVE
LST	0.7	-0.69	-0.78	0.96	0.93	0.98		-0.98	0.87	0.55	LST
EPV	-0.71	0.67	0.77	-0.92	-0.92	-0.96	-0.98		-0.87	-0.59	EPV
PEMX	0.56	-0.48	-0.88	0.77	0.75	0.82	0.87	-0.87		0.31	PEMX
TOKE	0.7	-0.49	-0.14	0.56	0.65	0.58	0.55	-0.59	0.31		TOKE
	UCC	UPW	DUG	OVS	SHRY	DFVE	LST	EPV	PEMX	TOKE

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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

DFVE	+ 0.99	OVS
LST	+ 0.98	DFVE
LST	+ 0.96	OVS
DFVE	+ 0.94	SHRY
SHRY	+ 0.93	OVS
LST	+ 0.93	SHRY

High negative correlations

EPV	- 0.98	LST
EPV	- 0.96	DFVE
EPV	- 0.92	SHRY
EPV	- 0.92	OVS
PEMX	- 0.88	DUG
PEMX	- 0.87	EPV

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
UCC	1.81	0.04	0.00	0.19	2.33	(1.82)	3.46	(4.27)	10.45
UPW	1.30	(0.13)	0.00	7.53	0.00	0.00	2.37	(2.80)	7.51
DUG	1.96	(0.31)	0.00	0.37	0.00	0.00	3.05	(4.48)	12.40
OVS	0.93	0.01	0.03	0.06	1.12	(1.03)	2.09	(2.29)	5.78
SHRY	0.61	(0.01)	(0.03)	0.03	0.74	(0.65)	1.30	(1.33)	3.46
DFVE	0.61	0.03	0.03	0.08	0.64	(0.67)	1.69	(1.32)	3.68
LST	0.64	0.06	0.06	0.11	0.65	(0.73)	1.33	(1.11)	3.66
EPV	1.24	(0.18)	0.00	0.17	0.00	0.00	2.47	(3.05)	6.22
PEMX	0.71	0.24	0.21	1.07	0.64	(0.82)	1.82	(1.33)	4.08
TOKE	2.00	(0.04)	0.00	0.36	0.00	0.00	5.71	(3.35)	29.19

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