ProShares Ultra Correlations

SAA Etf

USD 29.16 0.60 2.10%

The current 90-days correlation between ProShares Ultra Smal and iShares MSCI Finland is 0.51 (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.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra SmallCap600 and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra SmallCap600 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Ultra SmallCap600. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with ProShares Etf

0.82	SSO	ProShares Ultra SP500	Pair Corr
0.8	SPXL	Direxion Daily SP500	Pair Corr
0.77	UPRO	ProShares UltraPro SP500	Pair Corr
0.82	LABU	Direxion Daily SP	Pair Corr
0.9	SMH	VanEck Semiconductor ETF	Pair Corr
0.81	SOXX	iShares Semiconductor ETF	Pair Corr
0.93	PSI	Invesco Dynamic Semi	Pair Corr
0.7	AHYB	American Century ETF	Pair Corr
0.67	RDIV	Invesco SP Ultra	Pair Corr
0.97	OASC	OneAscent Small Cap	Pair Corr
0.91	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.84	VBK	Vanguard Small Cap	Pair Corr
0.7	GAPR	First Trust Exchange	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr

Moving against ProShares Etf

0.58	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.46	TRV	The Travelers Companies	Pair Corr
0.45	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.41	MMM	3M Company	Pair Corr
0.39	HPQ	HP Inc	Pair Corr
0.36	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	UMDD	UYM	QDIV	MDLV	KVLE	NUDV	EMSF	HFND	TCHI	EFNL
UMDD		0.76	0.75	0.64	0.92	0.71	0.43	0.77	0.7	0.92	UMDD
UYM	0.76		0.96	0.94	0.6	0.96	0.33	0.82	0.5	0.7	UYM
QDIV	0.75	0.96		0.94	0.64	0.97	0.34	0.82	0.46	0.66	QDIV
MDLV	0.64	0.94	0.94		0.54	0.95	0.26	0.73	0.33	0.61	MDLV
KVLE	0.92	0.6	0.64	0.54		0.57	0.54	0.75	0.69	0.89	KVLE
NUDV	0.71	0.96	0.97	0.95	0.57		0.17	0.72	0.35	0.61	NUDV
EMSF	0.43	0.33	0.34	0.26	0.54	0.17		0.74	0.78	0.48	EMSF
HFND	0.77	0.82	0.82	0.73	0.75	0.72	0.74		0.77	0.76	HFND
TCHI	0.7	0.5	0.46	0.33	0.69	0.35	0.78	0.77		0.72	TCHI
EFNL	0.92	0.7	0.66	0.61	0.89	0.61	0.48	0.76	0.72		EFNL
	UMDD	UYM	QDIV	MDLV	KVLE	NUDV	EMSF	HFND	TCHI	EFNL

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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
UMDD	2.09	0.20	0.11	0.11	2.26	(2.23)	5.66	(4.17)	11.49
UYM	1.55	0.36	0.22	0.23	1.39	(1.67)	4.06	(3.00)	7.79
QDIV	0.57	0.10	0.13	0.20	0.45	(0.64)	1.41	(1.01)	3.28
MDLV	0.44	0.12	0.12	1.35	0.44	(0.48)	1.02	(0.99)	2.34
KVLE	0.50	0.03	0.02	0.08	0.61	(0.53)	1.02	(1.03)	3.00
NUDV	0.49	0.09	0.14	0.17	0.35	(0.61)	1.15	(0.83)	3.37
EMSF	0.94	0.01	0.00	0.05	1.50	(0.98)	1.85	(1.81)	8.11
HFND	0.46	0.02	(0.01)	0.08	0.49	(0.57)	1.24	(0.92)	2.98
TCHI	1.05	(0.13)	0.00	(0.17)	0.00	0.00	1.69	(2.21)	6.74
EFNL	0.75	0.16	0.13	0.29	0.84	(0.76)	1.48	(1.47)	4.20

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