ProShares Ultra Correlations

SSO Etf

USD 59.53 0.52 0.88%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra SP500 and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra SP500 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 Ultra SP500. 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

0.82	SPXL	Direxion Daily SP500	Pair Corr
0.8	QLD	ProShares Ultra QQQ	Pair Corr
1.0	UPRO	ProShares UltraPro SP500	Pair Corr
0.65	LABU	Direxion Daily SP	Pair Corr
0.64	UYG	ProShares Ultra Fina	Pair Corr
0.72	USD	ProShares Ultra Semi	Pair Corr
0.8	SMH	VanEck Semiconductor ETF	Pair Corr
0.7	SOXX	iShares Semiconductor ETF	Pair Corr
0.71	PSI	Invesco Dynamic Semi	Pair Corr
0.78	AHYB	American Century ETF	Pair Corr
0.84	OASC	OneAscent Small Cap	Pair Corr
0.74	BINC	BlackRock ETF Trust	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.83	GAPR	First Trust Exchange	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr

Moving against ProShares Etf

0.54	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.41	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	BUFR	SCHH	FTCS	BOXX	JGRO	FDN	CGUS	XLRE	KWEB	VDC
BUFR		0.51	0.85	0.91	0.01	-0.21	0.94	0.5	-0.07	0.67	BUFR
SCHH	0.51		0.78	0.61	-0.44	-0.65	0.53	0.97	0.01	0.82	SCHH
FTCS	0.85	0.78		0.93	-0.44	-0.62	0.77	0.73	-0.17	0.94	FTCS
BOXX	0.91	0.61	0.93		-0.39	-0.57	0.77	0.56	-0.25	0.83	BOXX
JGRO	0.01	-0.44	-0.44	-0.39		0.93	0.19	-0.34	0.47	-0.6	JGRO
FDN	-0.21	-0.65	-0.62	-0.57	0.93		-0.04	-0.53	0.47	-0.77	FDN
CGUS	0.94	0.53	0.77	0.77	0.19	-0.04		0.57	0.22	0.57	CGUS
XLRE	0.5	0.97	0.73	0.56	-0.34	-0.53	0.57		0.13	0.75	XLRE
KWEB	-0.07	0.01	-0.17	-0.25	0.47	0.47	0.22	0.13		-0.29	KWEB
VDC	0.67	0.82	0.94	0.83	-0.6	-0.77	0.57	0.75	-0.29		VDC
	BUFR	SCHH	FTCS	BOXX	JGRO	FDN	CGUS	XLRE	KWEB	VDC

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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

XLRE	+ 0.97	SCHH
CGUS	+ 0.94	BUFR
VDC	+ 0.94	FTCS
BOXX	+ 0.93	FTCS
FDN	+ 0.93	JGRO
BOXX	+ 0.91	BUFR

High negative correlations

VDC	- 0.77	FDN
FDN	- 0.65	SCHH
FDN	- 0.62	FTCS
VDC	- 0.6	JGRO
FDN	- 0.57	BOXX
XLRE	- 0.53	FDN

ProShares Ultra Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Ultra 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 Ultra'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
BUFR	0.28	0.00	(0.11)	0.10	0.33	(0.28)	0.63	(0.65)	1.85
SCHH	0.56	0.04	(0.02)	0.19	0.64	(0.57)	1.52	(1.08)	3.28
FTCS	0.48	0.07	0.07	0.21	0.23	(0.59)	1.10	(0.74)	2.65
BOXX	0.02	0.01	(4.26)	0.92	0.00	(0.03)	0.05	(0.02)	0.08
JGRO	0.78	(0.14)	0.00	(0.09)	0.00	0.00	1.49	(1.90)	4.96
FDN	0.87	(0.24)	0.00	(0.21)	0.00	0.00	1.60	(2.05)	5.66
CGUS	0.60	(0.03)	(0.05)	0.05	0.81	(0.57)	1.22	(1.36)	3.90
XLRE	0.60	0.01	(0.04)	0.11	0.75	(0.60)	1.32	(1.30)	3.25
KWEB	1.11	(0.17)	0.00	(0.13)	0.00	0.00	2.82	(2.26)	8.01
VDC	0.61	0.18	0.21	0.78	0.09	(0.76)	1.37	(0.89)	3.18

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