ProShares UltraPro Correlations

SPXU Etf

USD 49.74 1.16 2.39%

The current 90-days correlation between ProShares UltraPro Short and RPAR Risk Parity is -0.55 (i.e., Excellent 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 -0.75 (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 discontinued.

Moving together with ProShares Etf

0.98	SH	ProShares Short SP500	Pair Corr
1.0	SDS	ProShares UltraShort	Pair Corr
1.0	SPXS	Direxion Daily SP	Pair Corr
0.75	QID	ProShares UltraShort QQQ	Pair Corr
0.74	RWM	ProShares Short Russ	Pair Corr
0.96	SPDN	Direxion Daily SP	Pair Corr
0.71	TAIL	Cambria Tail Risk	Pair Corr
0.79	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.72	USD	ProShares Ultra Semi Downward Rally	Pair Corr
0.55	DFEN	Direxion Daily Aerospace	Pair Corr
0.55	NUGT	Direxion Daily Gold	Pair Corr
0.46	DGP	DB Gold Double	Pair Corr
0.46	UGL	ProShares Ultra Gold	Pair Corr
0.71	PSMR	Pacer Swan SOS	Pair Corr
0.69	ETHO	Amplify Etho Climate	Pair Corr
0.64	AHYB	American Century ETF	Pair Corr
0.6	URA	Global X Uranium	Pair Corr
0.58	IJS	iShares SP Small	Pair Corr
0.56	DOO	BRP Inc Symbol Change	Pair Corr
0.56	DFE	WisdomTree Europe	Pair Corr
0.55	RHRX	Starboard Investment	Pair Corr
0.49	DISV	Dimensional ETF Trust	Pair Corr
0.48	STXV	EA Series Trust	Pair Corr
0.45	PID	Invesco International	Pair Corr
0.44	VYMI	Vanguard International	Pair Corr
0.43	DUSL	Direxion Daily Indus	Pair Corr
0.42	MEXX	Direxion Daily MSCI	Pair Corr
0.4	TAXT	Northern Trust Tax	Pair Corr
0.96	PDEC	Innovator SP 500	Pair Corr
0.77	RSST	Return Stacked Stocks	Pair Corr
0.75	DIA	SPDR Dow Jones	Pair Corr
0.71	NAPR	Innovator Nasdaq 100	Pair Corr

Related Correlations Analysis

	PSQ	SDS	URTY	JNUG	NAIL	DDM	UVIX	CSM	PPH	RPAR
PSQ		0.57	-0.11	0.0	0.3	-0.08	0.29	-0.56	0.36	0.27	PSQ
SDS	0.57		-0.69	-0.53	-0.19	-0.74	0.82	-0.94	-0.36	-0.38	SDS
URTY	-0.11	-0.69		0.85	0.64	0.89	-0.78	0.59	0.73	0.77	URTY
JNUG	0.0	-0.53	0.85		0.47	0.74	-0.69	0.47	0.76	0.86	JNUG
NAIL	0.3	-0.19	0.64	0.47		0.57	-0.25	0.0	0.66	0.69	NAIL
DDM	-0.08	-0.74	0.89	0.74	0.57		-0.88	0.72	0.78	0.74	DDM
UVIX	0.29	0.82	-0.78	-0.69	-0.25	-0.88		-0.88	-0.6	-0.54	UVIX
CSM	-0.56	-0.94	0.59	0.47	0.0	0.72	-0.88		0.31	0.26	CSM
PPH	0.36	-0.36	0.73	0.76	0.66	0.78	-0.6	0.31		0.92	PPH
RPAR	0.27	-0.38	0.77	0.86	0.69	0.74	-0.54	0.26	0.92		RPAR
	PSQ	SDS	URTY	JNUG	NAIL	DDM	UVIX	CSM	PPH	RPAR

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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

RPAR	+ 0.92	PPH
DDM	+ 0.89	URTY
RPAR	+ 0.86	JNUG
JNUG	+ 0.85	URTY
UVIX	+ 0.82	SDS
PPH	+ 0.78	DDM

High negative correlations

CSM	- 0.94	SDS
CSM	- 0.88	UVIX
UVIX	- 0.88	DDM
UVIX	- 0.78	URTY
DDM	- 0.74	SDS
UVIX	- 0.69	JNUG

ProShares UltraPro Constituents 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
PSQ	0.77	(0.05)	0.00	(0.25)	0.00	0.00	1.96	(1.40)	4.96
SDS	1.05	0.02	0.00	0.10	0.00	0.00	2.24	(1.90)	7.89
URTY	2.60	0.26	0.18	0.19	2.66	(2.88)	5.81	(4.74)	16.75
JNUG	5.08	1.39	0.18	0.67	6.57	(5.41)	12.20	(12.60)	39.90
NAIL	4.14	0.20	0.13	0.17	3.71	(5.50)	12.45	(6.37)	29.06
DDM	1.16	0.00	0.07	0.11	1.28	(1.22)	2.56	(2.54)	8.26
UVIX	4.53	(0.34)	0.00	0.17	0.00	0.00	8.07	(10.66)	40.43
CSM	0.56	(0.02)	(0.05)	0.09	0.66	(0.59)	1.10	(1.21)	3.76
PPH	0.77	0.10	0.06	0.28	0.62	(0.92)	1.97	(1.37)	4.69
RPAR	0.47	0.11	0.07	0.39	0.38	(0.54)	1.07	(0.74)	3.63

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