ProShares UltraPro Correlations

SRTY Etf

USD 41.17 1.27 2.99%

The current 90-days correlation between ProShares UltraPro Short and ProShares Ultra Oil is -0.36 (i.e., Very 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 -0.81 (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 persons.

Moving together with ProShares Etf

0.77	SPXU	ProShares UltraPro Short	Pair Corr
0.77	SDS	ProShares UltraShort	Pair Corr
0.77	SPXS	Direxion Daily SP	Pair Corr
0.64	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
0.99	RWM	ProShares Short Russ Aggressive Push	Pair Corr
0.73	TAIL	Cambria Tail Risk	Pair Corr
0.78	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.83	TOT	Advisor Managed Port	Pair Corr
0.82	VO	Vanguard Mid Cap	Pair Corr
0.79	VTV	Vanguard Value Index	Pair Corr
0.77	SPY	SPDR SP 500	Pair Corr
0.77	IVV	iShares Core SP	Pair Corr
0.64	VTI	Vanguard Total Stock	Pair Corr
0.58	VUG	Vanguard Growth Index	Pair Corr
0.39	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.63	BAC	Bank of America	Pair Corr
0.57	AXP	American Express	Pair Corr
0.56	MCD	McDonalds	Pair Corr
0.51	INTC	Intel Aggressive Push	Pair Corr
0.44	BA	Boeing	Pair Corr
0.42	MRK	Merck Company	Pair Corr
0.42	JNJ	Johnson Johnson	Pair Corr
0.33	DD	Dupont De Nemours	Pair Corr
0.31	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	DIG	SBIT	ETHD	SJB	TBF	RXL	CVMC	CSD	QLTI	KARS
DIG		0.37	0.26	-0.06	0.44	0.52	0.31	0.38	-0.01	0.17	DIG
SBIT	0.37		0.93	0.37	0.63	0.89	0.23	0.54	-0.04	-0.48	SBIT
ETHD	0.26	0.93		0.54	0.43	0.77	-0.06	0.3	-0.28	-0.55	ETHD
SJB	-0.06	0.37	0.54		0.16	0.13	-0.61	-0.13	-0.59	-0.37	SJB
TBF	0.44	0.63	0.43	0.16		0.62	0.43	0.57	0.11	-0.17	TBF
RXL	0.52	0.89	0.77	0.13	0.62		0.45	0.63	0.14	-0.26	RXL
CVMC	0.31	0.23	-0.06	-0.61	0.43	0.45		0.77	0.79	0.23	CVMC
CSD	0.38	0.54	0.3	-0.13	0.57	0.63	0.77		0.58	0.12	CSD
QLTI	-0.01	-0.04	-0.28	-0.59	0.11	0.14	0.79	0.58		0.37	QLTI
KARS	0.17	-0.48	-0.55	-0.37	-0.17	-0.26	0.23	0.12	0.37		KARS
	DIG	SBIT	ETHD	SJB	TBF	RXL	CVMC	CSD	QLTI	KARS

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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

ETHD	+ 0.93	SBIT
RXL	+ 0.89	SBIT
QLTI	+ 0.79	CVMC
RXL	+ 0.77	ETHD
CSD	+ 0.77	CVMC
TBF	+ 0.63	SBIT

High negative correlations

CVMC	- 0.61	SJB
QLTI	- 0.59	SJB
KARS	- 0.55	ETHD
KARS	- 0.48	SBIT
KARS	- 0.37	SJB
QLTI	- 0.28	ETHD

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
DIG	1.81	0.01	0.00	0.07	2.33	(1.83)	3.40	(3.00)	9.84
SBIT	4.63	0.87	0.11	(0.22)	5.48	(4.83)	7.50	(8.03)	24.68
ETHD	7.38	1.01	0.07	(0.12)	8.55	(7.64)	15.51	(14.83)	37.93
SJB	0.16	0.01	(0.24)	0.02	0.19	(0.19)	0.33	(0.33)	1.37
TBF	0.39	0.05	(0.05)	(0.14)	0.40	(0.43)	0.96	(0.62)	2.38
RXL	1.24	0.25	0.19	0.24	1.06	(1.39)	4.05	(2.41)	9.07
CVMC	0.68	(0.03)	(0.03)	0.03	0.86	(0.68)	1.30	(1.27)	3.51
CSD	1.22	0.11	0.04	0.63	1.62	(1.22)	2.27	(3.25)	6.86
QLTI	0.63	0.02	0.01	0.08	0.69	(0.66)	1.27	(1.32)	2.94
KARS	1.24	(0.02)	0.00	0.04	1.61	(1.33)	2.81	(2.51)	8.74

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