ProShares Ultra Correlations

QQUP Etf

50.14 0.88 1.79%

The current 90-days correlation between ProShares Ultra Top and Vanguard FTSE Emerging is 0.59 (i.e., Very weak 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

Excellent diversification

The correlation between ProShares Ultra Top and DJI is -0.51 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Top and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Top. 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

0.63	QLD	ProShares Ultra QQQ Potential Growth	Pair Corr
0.72	TECL	Direxion Daily Technology	Pair Corr
0.67	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr

Moving against ProShares Etf

0.77	AMPD	Tidal ETF Services	Pair Corr
0.7	NRGU	Bank of Montreal	Pair Corr
0.67	NBCE	Neuberger Berman ETF	Pair Corr
0.65	ELON	Battleshares TSLA	Pair Corr
0.53	GUSH	Direxion Daily SP	Pair Corr
0.5	CPST	Calamos ETF Trust	Pair Corr
0.45	ITWO	Proshares Russell 2000	Pair Corr
0.36	DBA	Invesco DB Agriculture	Pair Corr
0.79	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.78	REGL	ProShares SP MidCap	Pair Corr
0.76	UDI	USCF ETF Trust	Pair Corr
0.76	BSMS	Invesco BulletShares 2028	Pair Corr
0.72	FNDC	Schwab Fundamental	Pair Corr
0.71	BMVP	Invesco Bloomberg MVP	Pair Corr
0.7	XFIX	Fm Investments Symbol Change	Pair Corr
0.69	PCEM	Litman Gregory Funds	Pair Corr
0.68	EWT	iShares MSCI Taiwan	Pair Corr
0.68	NCPB	Nuveen Core Plus	Pair Corr
0.63	NULV	Nuveen ESG Large	Pair Corr
0.58	FPXE	First Trust IPOX	Pair Corr
0.54	IQSZ	Invesco Actively Managed	Pair Corr
0.5	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.46	TLCI	Touchstone ETF Trust	Pair Corr
0.4	JANW	AIM ETF Products	Pair Corr
0.79	LVHI	Franklin International Low Volatility	Pair Corr
0.78	SCDV	ETF Series Solutions	Pair Corr
0.75	DFSD	Dimensional ETF Trust	Pair Corr
0.73	FIDU	Fidelity MSCI Industrials	Pair Corr
0.71	CCNR	CoreCommodity Natural	Pair Corr
0.69	WLDR	Affinity World Leaders	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.35	-0.4	0.4	0.13	-0.47	-0.07	0.34	0.42	0.38	META
MSFT	-0.35		0.82	-0.57	-0.71	0.74	0.85	0.07	-0.87	-0.92	MSFT
UBER	-0.4	0.82		-0.51	-0.57	0.81	0.6	-0.07	-0.8	-0.77	UBER
F	0.4	-0.57	-0.51		0.17	-0.46	-0.31	0.28	0.72	0.63	F
T	0.13	-0.71	-0.57	0.17		-0.47	-0.78	-0.15	0.5	0.63	T
A	-0.47	0.74	0.81	-0.46	-0.47		0.54	-0.01	-0.66	-0.8	A
CRM	-0.07	0.85	0.6	-0.31	-0.78	0.54		0.44	-0.64	-0.83	CRM
JPM	0.34	0.07	-0.07	0.28	-0.15	-0.01	0.44		0.2	-0.1	JPM
MRK	0.42	-0.87	-0.8	0.72	0.5	-0.66	-0.64	0.2		0.86	MRK
XOM	0.38	-0.92	-0.77	0.63	0.63	-0.8	-0.83	-0.1	0.86		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.86	MRK
CRM	+ 0.85	MSFT
UBER	+ 0.82	MSFT
A	+ 0.81	UBER
A	+ 0.74	MSFT
MRK	+ 0.72	F

High negative correlations

XOM	- 0.92	MSFT
MRK	- 0.87	MSFT
XOM	- 0.83	CRM
XOM	- 0.8	A
MRK	- 0.8	UBER
CRM	- 0.78	T

ProShares Ultra Competition 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
META	1.47	0.07	0.04	0.14	1.43	(1.78)	3.43	(2.60)	13.69
MSFT	1.33	(0.37)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.55	(0.39)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
F	1.21	0.03	0.02	0.07	1.25	(1.45)	3.34	(2.30)	7.16
T	1.01	0.14	0.10	(18.48)	0.95	(1.16)	3.87	(1.76)	5.31
A	1.27	(0.31)	0.00	(0.20)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.72	(0.42)	0.00	(0.40)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.10)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.29	0.43	0.31	0.77	0.98	(1.58)	2.93	(1.98)	8.74
XOM	1.27	0.39	0.25	1.59	1.08	(1.47)	2.90	(2.12)	6.83

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