ProShares UltraPro Correlations

SQQQ Etf

USD 73.25 2.88 4.09%

The current 90-days correlation between ProShares UltraPro Short and Harbor ETF Trust is -0.8 (i.e., Pay attention - limited upside). 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

Very good diversification

The correlation between ProShares UltraPro Short and DJI is -0.39 (i.e., Very good diversification) 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 producer price index.

Moving together with ProShares Etf

0.9	SH	ProShares Short SP500	Pair Corr
0.98	PSQ	ProShares Short QQQ	Pair Corr
0.83	SPXU	ProShares UltraPro Short	Pair Corr
0.85	SDS	ProShares UltraShort Potential Growth	Pair Corr
0.84	SPXS	Direxion Daily SP	Pair Corr
1.0	QID	ProShares UltraShort QQQ	Pair Corr
0.91	SPDN	Direxion Daily SP	Pair Corr
0.73	TAIL	Cambria Tail Risk	Pair Corr

Moving against ProShares Etf

0.79	VUG	Vanguard Growth Index	Pair Corr
0.78	SPY	SPDR SP 500	Pair Corr
0.78	IVV	iShares Core SP	Pair Corr
0.75	VTI	Vanguard Total Stock	Pair Corr
0.75	TOT	Advisor Managed Port	Pair Corr
0.34	IRE	Tidal Trust II Potential Growth	Pair Corr
0.54	SIXJ	AIM ETF Products	Pair Corr
0.43	TLCI	Touchstone ETF Trust	Pair Corr
0.42	VO	Vanguard Mid Cap	Pair Corr
0.38	DBA	Invesco DB Agriculture	Pair Corr
0.32	ESML	iShares ESG Aware	Pair Corr
0.31	FPXE	First Trust IPOX	Pair Corr
0.67	GOOX	Etf Opportunities Trust	Pair Corr
0.6	PSFD	Pacer Swan SOS	Pair Corr
0.54	JANW	AIM ETF Products	Pair Corr
0.45	XYLD	Global X SP	Pair Corr

Related Correlations Analysis

	NFXS	TSMG	QQXL	EZJ	HIYS	UGE	WRND	TAGS	MAPP
NFXS		0.9	-0.2	0.9	0.92	0.88	0.82	-0.54	0.92	NFXS
TSMG	0.9		-0.13	0.95	0.91	0.87	0.89	-0.39	0.92	TSMG
QQXL	-0.2	-0.13		-0.29	0.02	-0.42	0.28	-0.15	0.09	QQXL
EZJ	0.9	0.95	-0.29		0.87	0.94	0.79	-0.32	0.88	EZJ
HIYS	0.92	0.91	0.02	0.87		0.82	0.92	-0.54	0.96	HIYS
UGE	0.88	0.87	-0.42	0.94	0.82		0.7	-0.31	0.81	UGE
WRND	0.82	0.89	0.28	0.79	0.92	0.7		-0.45	0.95	WRND
TAGS	-0.54	-0.39	-0.15	-0.32	-0.54	-0.31	-0.45		-0.49	TAGS
MAPP	0.92	0.92	0.09	0.88	0.96	0.81	0.95	-0.49		MAPP
	NFXS	TSMG	QQXL	EZJ	HIYS	UGE	WRND	TAGS	MAPP

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

MAPP	+ 0.96	HIYS
EZJ	+ 0.95	TSMG
MAPP	+ 0.95	WRND
UGE	+ 0.94	EZJ
HIYS	+ 0.92	NFXS
MAPP	+ 0.92	NFXS

High negative correlations

TAGS	- 0.54	HIYS
TAGS	- 0.54	NFXS
MAPP	- 0.49	TAGS
TAGS	- 0.45	WRND
UGE	- 0.42	QQXL
TAGS	- 0.39	TSMG

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
NFXS	1.43	0.52	0.31	6.30	0.98	(1.75)	3.85	(2.05)	8.26
TSMG	3.25	0.62	0.20	0.31	3.26	(3.84)	7.06	(5.78)	19.96
QQXL	1.65	(0.17)	0.00	(0.04)	0.00	0.00	2.67	(4.94)	10.73
EZJ	1.69	0.22	0.13	0.18	1.73	(1.88)	4.28	(3.73)	11.92
HIYS	0.11	0.02	(0.31)	0.25	0.00	(0.14)	0.28	(0.20)	0.59
UGE	1.26	0.36	0.27	1.25	0.80	(1.54)	2.97	(2.05)	6.91
WRND	0.73	0.03	0.02	0.11	0.94	(0.68)	1.29	(1.77)	4.08
TAGS	0.57	0.00	(0.10)	0.00	0.65	(0.62)	1.05	(1.08)	2.75
MAPP	0.45	0.05	0.02	0.15	0.49	(0.47)	0.81	(0.86)	2.87

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