ProShares Ultra Correlations

UBT Etf

USD 17.56 0.18 1.04%

The current 90-days correlation between ProShares Ultra 20 and ProShares Ultra Consumer is 0.23 (i.e., Modest 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 good diversification

The correlation between ProShares Ultra 20 and DJI is -0.48 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra 20 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 20. 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

0.99	TMF	Direxion Daily 20	Pair Corr
0.85	TYD	Direxion Daily 7	Pair Corr
0.82	UST	ProShares Ultra 7	Pair Corr

Moving against ProShares Etf

0.58	CPST	Calamos ETF Trust	Pair Corr
0.58	GAPR	First Trust Exchange	Pair Corr
0.54	KRE	SPDR SP Regional	Pair Corr
0.54	WLTG	ETF Opportunities Trust	Pair Corr
0.54	HCOW	Amplify Cash Flow	Pair Corr
0.52	ITWO	Proshares Russell 2000	Pair Corr
0.52	LITP	Sprott Lithium Miners	Pair Corr
0.52	SIL	Global X Silver	Pair Corr
0.48	VBK	Vanguard Small Cap	Pair Corr
0.47	TSPX	Twin Oak Active	Pair Corr
0.46	CTEX	ProShares SP Kensho	Pair Corr
0.46	RAUS	RACWI ETF	Pair Corr
0.46	TOCT	Innovator Equity Defined	Pair Corr
0.46	EPRF	Innovator SP Investment	Pair Corr
0.41	IYM	iShares Basic Materials	Pair Corr
0.37	EDGI	Advisors Inner	Pair Corr
0.31	EWT	iShares MSCI Taiwan	Pair Corr
0.62	QCJA	FT Vest Nasdaq	Pair Corr
0.62	XRT	SPDR SP Retail	Pair Corr
0.58	PMAY	Innovator SP 500	Pair Corr
0.55	VGUS	Vanguard Ultra Short	Pair Corr
0.55	XBI	SPDR SP Biotech Sell-off Trend	Pair Corr
0.55	SFLO	VictoryShares Small Cap	Pair Corr
0.54	TAPR	Innovator Equity Defined	Pair Corr
0.54	ZMUN	Fm Callable Tax	Pair Corr
0.54	FIXP	Tidal ETF Trust	Pair Corr
0.51	ACLO	TCW ETF Trust	Pair Corr
0.5	SMLF	iShares MSCI USA	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

ProShares Ultra Competition 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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC