ProShares Ultra Correlations

ROM Etf

USD 97.69 0.50 0.51%

The current 90-days correlation between ProShares Ultra Tech and Invesco Dynamic Semiconductors is 0.92 (i.e., Almost no 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 Technology 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 Technology and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Technology 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 Technology. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with ProShares Etf

0.79	SSO	ProShares Ultra SP500	Pair Corr
0.81	SPXL	Direxion Daily SP500	Pair Corr
0.94	QLD	ProShares Ultra QQQ	Pair Corr
0.82	UPRO	ProShares UltraPro SP500	Pair Corr
0.99	TECL	Direxion Daily Technology	Pair Corr
0.74	NVDL	GraniteShares 15x Long Aggressive Push	Pair Corr
0.95	BULZ	MicroSectors Solactive	Pair Corr
0.93	USD	ProShares Ultra Semi	Pair Corr
0.78	FNGO	MicroSectors FANG Index	Pair Corr
0.79	FNGG	Direxion Daily Select	Pair Corr
0.9	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.67	ITDJ	iShares Trust	Pair Corr
0.88	QQQM	Invesco NASDAQ 100	Pair Corr
0.94	QQH	HCM Defender 100	Pair Corr

Related Correlations Analysis

	PSI	IHAK	UYG	TMSL	TGRW	SUSL	PEY	VMMSX	IWC	CGCV
PSI		-0.3	0.3	0.8	0.65	0.92	0.02	0.78	0.79	0.69	PSI
IHAK	-0.3		0.21	-0.14	0.2	-0.31	0.67	-0.1	-0.16	-0.08	IHAK
UYG	0.3	0.21		0.7	0.06	0.26	0.61	0.04	0.54	0.55	UYG
TMSL	0.8	-0.14	0.7		0.44	0.74	0.44	0.47	0.92	0.87	TMSL
TGRW	0.65	0.2	0.06	0.44		0.75	0.21	0.76	0.39	0.52	TGRW
SUSL	0.92	-0.31	0.26	0.74	0.75		0.02	0.8	0.69	0.74	SUSL
PEY	0.02	0.67	0.61	0.44	0.21	0.02		-0.03	0.41	0.44	PEY
VMMSX	0.78	-0.1	0.04	0.47	0.76	0.8	-0.03		0.4	0.56	VMMSX
IWC	0.79	-0.16	0.54	0.92	0.39	0.69	0.41	0.4		0.78	IWC
CGCV	0.69	-0.08	0.55	0.87	0.52	0.74	0.44	0.56	0.78		CGCV
	PSI	IHAK	UYG	TMSL	TGRW	SUSL	PEY	VMMSX	IWC	CGCV

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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

SUSL	+ 0.92	PSI
IWC	+ 0.92	TMSL
CGCV	+ 0.87	TMSL
TMSL	+ 0.8	PSI
VMMSX	+ 0.8	SUSL
IWC	+ 0.79	PSI

High negative correlations

SUSL	- 0.31	IHAK
IHAK	- 0.3	PSI
IWC	- 0.16	IHAK
TMSL	- 0.14	IHAK
VMMSX	- 0.1	IHAK
CGCV	- 0.08	IHAK

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
PSI	1.89	0.06	0.05	0.10	2.39	(1.90)	3.37	(4.48)	10.56
IHAK	0.97	(0.18)	0.00	(0.10)	0.00	0.00	1.76	(2.05)	6.98
UYG	1.43	(0.18)	0.00	(0.03)	0.00	0.00	2.42	(3.93)	7.74
TMSL	0.77	(0.02)	(0.01)	0.05	0.94	(0.79)	1.79	(1.57)	4.03
TGRW	0.79	(0.04)	(0.03)	0.03	1.17	(0.72)	1.81	(1.95)	4.65
SUSL	0.61	0.03	0.02	0.10	0.85	(0.59)	1.45	(1.49)	4.06
PEY	0.66	(0.08)	0.00	(0.02)	0.00	0.00	1.63	(1.45)	3.47
VMMSX	0.65	(0.03)	(0.05)	0.03	0.97	(0.65)	1.25	(1.48)	4.83
IWC	1.23	0.01	0.03	0.07	1.55	(1.17)	2.88	(2.86)	6.12
CGCV	0.50	(0.02)	(0.05)	0.05	0.64	(0.50)	0.82	(1.01)	2.56

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