ProShares Ultra Correlations

RXL Etf

USD 48.44 0.79 1.66%

The current 90-days correlation between ProShares Ultra Health and ProShares Ultra Consumer is 0.43 (i.e., Very weak 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 Health moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very weak diversification

The correlation between ProShares Ultra Health and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Health and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ProShares Etf

0.63	LABU	Direxion Daily SP	Pair Corr
0.63	IRET	Tidal Trust II	Pair Corr
0.83	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.92	KO	Coca Cola Aggressive Push	Pair Corr

Moving against ProShares Etf

0.86	ARKW	ARK Next Generation	Pair Corr
0.81	UYG	ProShares Ultra Fina	Pair Corr
0.77	FNGU	MicroSectors FANG Index Sell-off Trend	Pair Corr
0.71	SPY	SPDR SP 500	Pair Corr
0.68	SSO	ProShares Ultra SP500	Pair Corr
0.67	SPXL	Direxion Daily SP500	Pair Corr
0.67	UPRO	ProShares UltraPro SP500	Pair Corr
0.67	BST	BlackRock Science Tech	Pair Corr
0.66	QLD	ProShares Ultra QQQ	Pair Corr
0.62	PPA	Invesco Aerospace Defense	Pair Corr
0.61	EWC	iShares MSCI Canada	Pair Corr
0.51	WTMF	WisdomTree Managed	Pair Corr
0.5	TECL	Direxion Daily Technology	Pair Corr
0.47	IAUF	IShares	Pair Corr
0.35	GUSH	Direxion Daily SP	Pair Corr
0.88	DIS	Walt Disney Aggressive Push	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.83	WMT	Walmart Aggressive Push	Pair Corr
0.83	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.73	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.73	T	ATT Inc Aggressive Push	Pair Corr
0.71	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.46	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	UGE	UPW	UCC	UXI	ROM
UGE		-0.06	-0.64	-0.58	-0.64	UGE
UPW	-0.06		0.43	0.62	0.42	UPW
UCC	-0.64	0.43		0.87	0.73	UCC
UXI	-0.58	0.62	0.87		0.85	UXI
ROM	-0.64	0.42	0.73	0.85		ROM
	UGE	UPW	UCC	UXI	ROM

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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

UXI	+ 0.87	UCC
ROM	+ 0.85	UXI
ROM	+ 0.73	UCC
UXI	+ 0.62	UPW
UCC	+ 0.43	UPW
ROM	+ 0.42	UPW

High negative correlations

ROM	- 0.64	UGE
UCC	- 0.64	UGE
UXI	- 0.58	UGE
UPW	- 0.06	UGE

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
UGE	0.95	(0.06)	0.00	(0.79)	0.00	0.00	1.55	(1.95)	4.98
UPW	1.53	0.18	0.06	0.56	1.88	(1.58)	3.18	(3.14)	10.34
UCC	1.83	0.25	0.17	0.20	1.72	(2.09)	4.10	(3.13)	9.34
UXI	1.31	0.06	0.10	0.11	1.36	(1.56)	3.28	(2.17)	11.44
ROM	2.04	(0.12)	0.00	0.03	3.12	(1.96)	3.79	(4.99)	12.88

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