ProShares Ultra Correlations

UBR Etf

USD 28.59 0.56 2.00%

The current 90-days correlation between ProShares Ultra MSCI and ProShares UltraShort MSCI is -0.47 (i.e., Very good diversification). The correlation of ProShares Ultra 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 Ultra Correlation With Market

Very weak diversification

The correlation between ProShares Ultra MSCI and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra MSCI 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 MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with ProShares Etf

0.73	LABU	Direxion Daily SP	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.68	BAC	Bank of America Earnings Call Next Week	Pair Corr
0.72	AXP	American Express	Pair Corr
0.72	IBM	International Business	Pair Corr
0.78	CAT	Caterpillar	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr
0.75	MMM	3M Company	Pair Corr

Moving against ProShares Etf

0.41	T	ATT Inc	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.47	BA	Boeing	Pair Corr

Related Correlations Analysis

	EEV	QQDN	REW	QCMD	YXI	CDIG	HYP	THNR	ION	USIN
EEV		0.56	0.75	0.64	0.15	-0.31	-0.13	0.06	-0.29	-0.18	EEV
QQDN	0.56		0.76	0.66	-0.02	-0.2	0.05	-0.04	-0.21	-0.32	QQDN
REW	0.75	0.76		0.73	0.16	-0.53	-0.37	0.25	-0.09	-0.08	REW
QCMD	0.64	0.66	0.73		-0.23	-0.45	0.13	-0.13	-0.44	-0.16	QCMD
YXI	0.15	-0.02	0.16	-0.23		-0.15	-0.5	0.51	0.65	0.36	YXI
CDIG	-0.31	-0.2	-0.53	-0.45	-0.15		0.49	0.03	0.19	-0.35	CDIG
HYP	-0.13	0.05	-0.37	0.13	-0.5	0.49		-0.53	-0.45	-0.17	HYP
THNR	0.06	-0.04	0.25	-0.13	0.51	0.03	-0.53		0.82	0.12	THNR
ION	-0.29	-0.21	-0.09	-0.44	0.65	0.19	-0.45	0.82		0.23	ION
USIN	-0.18	-0.32	-0.08	-0.16	0.36	-0.35	-0.17	0.12	0.23		USIN
	EEV	QQDN	REW	QCMD	YXI	CDIG	HYP	THNR	ION	USIN

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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

ION	+ 0.82	THNR
REW	+ 0.76	QQDN
REW	+ 0.75	EEV
QCMD	+ 0.73	REW
QCMD	+ 0.66	QQDN
ION	+ 0.65	YXI

High negative correlations

THNR	- 0.53	HYP
CDIG	- 0.53	REW
HYP	- 0.5	YXI
ION	- 0.45	HYP
CDIG	- 0.45	QCMD
ION	- 0.44	QCMD

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
EEV	1.47	(0.07)	0.00	0.11	0.00	0.00	2.52	(2.99)	12.95
QQDN	1.86	0.11	0.00	0.02	0.00	0.00	4.14	(4.30)	14.46
REW	1.97	0.13	0.00	0.02	0.00	0.00	5.24	(4.04)	13.14
QCMD	1.55	0.04	0.00	0.05	0.00	0.00	4.01	(3.61)	18.02
YXI	0.91	0.06	(0.03)	(0.11)	1.20	(0.95)	1.59	(1.58)	7.60
CDIG	1.10	0.00	(0.03)	0.07	1.61	(1.06)	2.49	(2.83)	9.52
HYP	1.95	(0.04)	(0.03)	(0.02)	2.76	(1.85)	3.27	(4.50)	11.53
THNR	0.81	0.02	0.00	0.10	0.86	(0.87)	1.55	(1.53)	5.14
ION	1.88	0.47	0.21	0.45	1.91	(2.16)	4.19	(2.67)	12.16
USIN	0.19	0.00	(0.27)	0.04	0.21	(0.20)	0.34	(0.33)	1.29

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