ProShares UltraPro Correlations

SDOW Etf

USD 30.47 1.08 3.67%

The current 90-days correlation between ProShares UltraPro Short and FT Cboe Vest is -0.07 (i.e., Good diversification). The correlation of ProShares UltraPro 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 UltraPro Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraPro Short and DJI is -1.0 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Short 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 UltraPro Short. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with ProShares Etf

0.78	SH	ProShares Short SP500	Pair Corr
0.89	SPXU	ProShares UltraPro Short	Pair Corr
0.87	SDS	ProShares UltraShort	Pair Corr
0.88	SPXS	Direxion Daily SP	Pair Corr
0.91	RWM	ProShares Short Russ Aggressive Push	Pair Corr
0.76	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.94	TAIL	Cambria Tail Risk Low Volatility	Pair Corr
1.0	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.95	OASC	OneAscent Small Cap	Pair Corr
0.93	TOT	Advisor Managed Port	Pair Corr
0.91	WTMF	WisdomTree Managed	Pair Corr
0.9	EWC	iShares MSCI Canada	Pair Corr
0.9	VBK	Vanguard Small Cap	Pair Corr
0.87	BINC	BlackRock ETF Trust	Pair Corr
0.81	RDIV	Invesco SP Ultra	Pair Corr
0.73	OIH	VanEck Oil Services	Pair Corr
0.62	BST	BlackRock Science Tech	Pair Corr
0.9	AHYB	American Century ETF	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.83	BA	Boeing	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.79	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.67	INTC	Intel	Pair Corr
0.63	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	CVX	Chevron Corp	Pair Corr
0.57	DIS	Walt Disney	Pair Corr
0.51	BAC	Bank of America Aggressive Push	Pair Corr
0.49	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.42	AXP	American Express	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.42	0.44	0.17	-0.59	0.03	0.31	0.43	0.45	META
MSFT	-0.41		0.75	-0.56	-0.27	0.52	0.62	0.04	-0.8	-0.83	MSFT
UBER	-0.42	0.75		-0.51	-0.08	0.63	0.26	-0.1	-0.77	-0.61	UBER
F	0.44	-0.56	-0.51		-0.18	-0.43	-0.1	0.38	0.71	0.65	F
T	0.17	-0.27	-0.08	-0.18		0.04	-0.58	-0.22	-0.01	0.2	T
A	-0.59	0.52	0.63	-0.43	0.04		0.14	-0.07	-0.47	-0.65	A
CRM	0.03	0.62	0.26	-0.1	-0.58	0.14		0.59	-0.29	-0.64	CRM
JPM	0.31	0.04	-0.1	0.38	-0.22	-0.07	0.59		0.25	-0.11	JPM
MRK	0.43	-0.8	-0.77	0.71	-0.01	-0.47	-0.29	0.25		0.72	MRK
XOM	0.45	-0.83	-0.61	0.65	0.2	-0.65	-0.64	-0.11	0.72		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

UBER	+ 0.75	MSFT
XOM	+ 0.72	MRK
MRK	+ 0.71	F
XOM	+ 0.65	F
A	+ 0.63	UBER
CRM	+ 0.62	MSFT

High negative correlations

XOM	- 0.83	MSFT
MRK	- 0.8	MSFT
MRK	- 0.77	UBER
XOM	- 0.65	A
XOM	- 0.64	CRM
XOM	- 0.61	UBER

ProShares UltraPro Competition Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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	1.55	0.02	(0.01)	(0.47)	1.62	(1.79)	3.43	(2.72)	13.36
MSFT	1.23	(0.34)	0.00	1.81	0.00	0.00	1.78	(2.70)	13.28
UBER	1.60	(0.39)	0.00	(0.56)	0.00	0.00	2.46	(5.06)	11.09
F	1.22	0.10	0.05	0.85	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.13	0.84	0.84	(1.06)	2.02	(1.54)	4.31
A	1.22	(0.23)	0.00	(0.13)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.64	(0.36)	0.00	3.41	0.00	0.00	2.94	(5.31)	12.37
JPM	1.12	0.05	0.01	(0.31)	1.63	(1.14)	2.18	(3.11)	7.38
MRK	1.32	0.48	0.32	0.86	1.07	(1.63)	3.59	(1.98)	8.09
XOM	1.15	0.38	0.28	0.71	0.92	(1.37)	2.69	(2.11)	5.85

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