ProShares UltraPro Correlations

SQQQ Etf

USD 63.88 2.38 3.59%

The current 90-days correlation between ProShares UltraPro Short and Xtrackers MSCI USA is -0.93 (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

Excellent diversification

The correlation between ProShares UltraPro Short and DJI is -0.55 (i.e., Excellent 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 main economic indicators.

Moving together with ProShares Etf

0.76	SH	ProShares Short SP500	Pair Corr
0.77	PSQ	ProShares Short QQQ	Pair Corr
0.73	SPXU	ProShares UltraPro Short	Pair Corr
0.92	SDS	ProShares UltraShort	Pair Corr
0.74	SPXS	Direxion Daily SP	Pair Corr
0.8	QID	ProShares UltraShort QQQ	Pair Corr
0.76	SPDN	Direxion Daily SP	Pair Corr

Moving against ProShares Etf

0.67	ITDD	iShares Trust	Pair Corr
0.5	CPST	Calamos ETF Trust	Pair Corr
0.32	CVX	Chevron Corp	Pair Corr
0.44	CAT	Caterpillar	Pair Corr
0.39	IBM	International Business Tech Boost	Pair Corr
0.32	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	AAXJ	DEM	IFRA	LVHI	FNGD	SKYY	NLR	FHCCX	ANGL	USCA
AAXJ		0.9	0.84	0.68	0.5	-0.38	0.84	0.19	0.68	0.47	AAXJ
DEM	0.9		0.87	0.86	0.65	-0.59	0.66	0.44	0.77	0.38	DEM
IFRA	0.84	0.87		0.82	0.67	-0.51	0.72	0.49	0.89	0.43	IFRA
LVHI	0.68	0.86	0.82		0.78	-0.75	0.34	0.72	0.87	0.33	LVHI
FNGD	0.5	0.65	0.67	0.78		-0.78	0.23	0.56	0.64	-0.14	FNGD
SKYY	-0.38	-0.59	-0.51	-0.75	-0.78		-0.02	-0.72	-0.49	0.25	SKYY
NLR	0.84	0.66	0.72	0.34	0.23	-0.02		-0.06	0.52	0.44	NLR
FHCCX	0.19	0.44	0.49	0.72	0.56	-0.72	-0.06		0.62	0.0	FHCCX
ANGL	0.68	0.77	0.89	0.87	0.64	-0.49	0.52	0.62		0.5	ANGL
USCA	0.47	0.38	0.43	0.33	-0.14	0.25	0.44	0.0	0.5		USCA
	AAXJ	DEM	IFRA	LVHI	FNGD	SKYY	NLR	FHCCX	ANGL	USCA

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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

DEM	+ 0.9	AAXJ
ANGL	+ 0.89	IFRA
IFRA	+ 0.87	DEM
ANGL	+ 0.87	LVHI
LVHI	+ 0.86	DEM
IFRA	+ 0.84	AAXJ

High negative correlations

SKYY	- 0.78	FNGD
SKYY	- 0.75	LVHI
FHCCX	- 0.72	SKYY
SKYY	- 0.59	DEM
SKYY	- 0.51	IFRA
ANGL	- 0.49	SKYY

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
AAXJ	0.70	0.13	0.13	0.60	0.60	(0.83)	1.41	(1.34)	4.33
DEM	0.43	0.13	0.21	0.92	0.25	(0.52)	1.01	(0.66)	2.57
IFRA	0.69	0.03	0.03	0.07	0.72	(0.71)	1.31	(1.32)	3.02
LVHI	0.41	0.15	0.22	2.59	0.08	(0.49)	1.07	(0.61)	2.85
FNGD	2.60	0.32	0.08	(1.25)	2.85	(2.99)	6.56	(4.24)	16.88
SKYY	1.14	(0.28)	0.00	(0.27)	0.00	0.00	2.19	(3.15)	6.59
NLR	2.23	0.04	0.02	0.06	2.95	(2.21)	4.84	(4.94)	10.96
FHCCX	0.71	0.02	0.01	0.09	0.76	(0.89)	1.73	(1.12)	5.12
ANGL	0.14	0.00	(0.14)	0.04	0.13	(0.14)	0.31	(0.31)	0.90
USCA	0.58	0.00	(0.04)	0.01	0.85	(0.54)	1.00	(1.38)	3.89

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