ProShares Ultra Correlations

UCC Etf

USD 53.60 0.72 1.36%

The current 90-days correlation between ProShares Ultra Consumer and ProShares Ultra Telecommunications is 0.77 (i.e., Poor 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.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra Consumer and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with ProShares Etf

0.77	SSO	ProShares Ultra SP500	Pair Corr
0.77	SPXL	Direxion Daily SP500	Pair Corr
0.66	QLD	ProShares Ultra QQQ	Pair Corr
0.77	UPRO	ProShares UltraPro SP500	Pair Corr
0.71	UYG	ProShares Ultra Fina	Pair Corr
0.71	ITDD	iShares Trust	Pair Corr
0.63	CPST	Calamos ETF Trust	Pair Corr
0.74	ITWO	Proshares Russell 2000	Pair Corr

Moving against ProShares Etf

0.41	T	ATT Inc	Pair Corr
0.31	GUSH	Direxion Daily SP	Pair Corr

Related Correlations Analysis

	LTL	UPW	RHRX	DUG	XTJL	HELX	FMKT	TSPY	QRMI	QNXT
LTL		-0.32	0.77	-0.11	0.76	0.22	0.27	0.69	0.52	0.79	LTL
UPW	-0.32		-0.24	0.63	-0.72	-0.76	0.49	-0.63	-0.75	0.0	UPW
RHRX	0.77	-0.24		-0.17	0.74	0.2	0.32	0.84	0.59	0.89	RHRX
DUG	-0.11	0.63	-0.17		-0.55	-0.68	0.36	-0.54	-0.61	0.05	DUG
XTJL	0.76	-0.72	0.74	-0.55		0.68	-0.13	0.95	0.91	0.51	XTJL
HELX	0.22	-0.76	0.2	-0.68	0.68		-0.56	0.64	0.73	-0.08	HELX
FMKT	0.27	0.49	0.32	0.36	-0.13	-0.56		-0.13	-0.27	0.48	FMKT
TSPY	0.69	-0.63	0.84	-0.54	0.95	0.64	-0.13		0.86	0.6	TSPY
QRMI	0.52	-0.75	0.59	-0.61	0.91	0.73	-0.27	0.86		0.27	QRMI
QNXT	0.79	0.0	0.89	0.05	0.51	-0.08	0.48	0.6	0.27		QNXT
	LTL	UPW	RHRX	DUG	XTJL	HELX	FMKT	TSPY	QRMI	QNXT

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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

TSPY	+ 0.95	XTJL
QRMI	+ 0.91	XTJL
QNXT	+ 0.89	RHRX
QRMI	+ 0.86	TSPY
TSPY	+ 0.84	RHRX
QNXT	+ 0.79	LTL

High negative correlations

HELX	- 0.76	UPW
QRMI	- 0.75	UPW
XTJL	- 0.72	UPW
HELX	- 0.68	DUG
TSPY	- 0.63	UPW
QRMI	- 0.61	DUG

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
LTL	1.27	(0.07)	(0.03)	0.03	1.57	(1.32)	2.29	(2.52)	6.11
UPW	1.21	(0.25)	0.00	(0.27)	0.00	0.00	2.37	(2.73)	7.35
RHRX	0.68	(0.06)	(0.08)	0.01	0.90	(0.67)	1.10	(1.69)	4.33
DUG	1.98	(0.04)	0.00	0.13	0.00	0.00	3.32	(3.57)	11.40
XTJL	0.33	0.00	(0.08)	0.08	0.40	(0.31)	0.74	(0.63)	2.11
HELX	0.92	0.14	0.13	0.25	0.77	(1.08)	2.70	(1.42)	5.17
FMKT	1.00	(0.05)	0.00	(0.14)	0.00	0.00	1.95	(2.35)	5.15
TSPY	0.61	(0.04)	(0.06)	0.04	0.81	(0.60)	1.23	(1.14)	3.24
QRMI	0.22	0.03	(0.07)	0.18	0.18	(0.25)	0.77	(0.38)	2.18
QNXT	0.77	(0.12)	0.00	(0.03)	0.00	0.00	1.37	(1.64)	3.94

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