ProShares UltraPro Correlations

SMDD Etf

USD 10.74 0.05 0.46%

The current 90-days correlation between ProShares UltraPro Short and Direxion is -0.15 (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.

ProShares UltraPro Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraPro Short and DJI is -0.95 (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 median.

Moving together with ProShares Etf

0.74	SH	ProShares Short SP500	Pair Corr
0.83	SPXU	ProShares UltraPro Short	Pair Corr
0.69	SDS	ProShares UltraShort	Pair Corr
0.72	SPXS	Direxion Daily SP	Pair Corr
0.98	RWM	ProShares Short Russ Sell-off Trend	Pair Corr
0.72	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.87	TAIL	Cambria Tail Risk	Pair Corr
0.85	DOG	ProShares Short Dow30	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.64	MSFT	Microsoft	Pair Corr

Moving against ProShares Etf

0.89	JNUG	Direxion Daily Junior	Pair Corr
0.88	NUGT	Direxion Daily Gold	Pair Corr
0.86	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.86	GDMN	WisdomTree Efficient Gold	Pair Corr
0.8	MUU	Direxion Daily MU	Pair Corr
0.8	MULL	GraniteShares 2x Long	Pair Corr
0.8	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.77	SHNY	Microsectors Gold Upward Rally	Pair Corr
0.76	KORU	Direxion Daily South	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.91	SIL	Global X Silver	Pair Corr
0.89	BA	Boeing	Pair Corr
0.88	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.82	MRK	Merck Company Aggressive Push	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.48	MCD	McDonalds Earnings Call Next Week	Pair Corr
0.36	AXP	American Express	Pair Corr
0.34	HD	Home Depot	Pair Corr
0.31	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	-0.14	0.27	0.06	-0.43	0.16	0.07	0.17	0.26	META
MSFT	-0.01		0.72	-0.56	0.12	0.38	0.49	0.03	-0.76	-0.75	MSFT
UBER	-0.14	0.72		-0.49	0.25	0.53	0.11	-0.15	-0.76	-0.53	UBER
F	0.27	-0.56	-0.49		-0.44	-0.29	-0.03	0.37	0.69	0.66	F
T	0.06	0.12	0.25	-0.44		0.38	-0.32	-0.33	-0.32	-0.25	T
A	-0.43	0.38	0.53	-0.29	0.38		-0.02	-0.07	-0.36	-0.57	A
CRM	0.16	0.49	0.11	-0.03	-0.32	-0.02		0.66	-0.16	-0.54	CRM
JPM	0.07	0.03	-0.15	0.37	-0.33	-0.07	0.66		0.29	-0.12	JPM
MRK	0.17	-0.76	-0.76	0.69	-0.32	-0.36	-0.16	0.29		0.68	MRK
XOM	0.26	-0.75	-0.53	0.66	-0.25	-0.57	-0.54	-0.12	0.68		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	+ 0.72	MSFT
MRK	+ 0.69	F
XOM	+ 0.68	MRK
XOM	+ 0.66	F
JPM	+ 0.66	CRM
A	+ 0.53	UBER

High negative correlations

MRK	- 0.76	UBER
MRK	- 0.76	MSFT
XOM	- 0.75	MSFT
XOM	- 0.57	A
F	- 0.56	MSFT
XOM	- 0.54	CRM

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	1.63	(0.12)	0.00	(0.07)	0.00	0.00	3.43	(2.72)	13.36
MSFT	1.22	(0.37)	0.00	(2.30)	0.00	0.00	1.78	(2.70)	13.28
UBER	1.46	(0.27)	0.00	(0.31)	0.00	0.00	2.46	(3.82)	10.23
F	1.23	0.05	0.04	0.09	1.22	(1.46)	3.38	(2.35)	7.16
T	0.96	0.04	0.01	0.21	1.04	(1.02)	1.85	(1.85)	3.77
A	1.20	(0.17)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.31)	0.00	(0.26)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	0.02	(0.02)	(0.11)	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.23	0.52	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.10	0.29	0.19	15.60	1.03	(1.26)	2.38	(2.11)	5.82

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