ProShares Ultra Correlations
| UCO Etf | USD 26.52 0.06 0.23% |
The current 90-days correlation between ProShares Ultra Bloomberg and ProShares UltraShort Bloomberg is -1.0 (i.e., Pay attention - limited upside). 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 Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
ProShares Ultra Correlation With Market
Significant diversification
The correlation between ProShares Ultra Bloomberg and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Bloomberg and DJI in the same portfolio, assuming nothing else is changed.
ProShares |
Moving against ProShares Etf
| 0.55 | BND | Vanguard Total Bond | PairCorr |
| 0.49 | HPQ | HP Inc | PairCorr |
| 0.37 | WTIU | UBS ETRACS | PairCorr |
| 0.75 | DIS | Walt Disney | PairCorr |
| 0.62 | VZ | Verizon Communications Sell-off Trend | PairCorr |
| 0.55 | DD | Dupont De Nemours | PairCorr |
| 0.46 | MCD | McDonalds | PairCorr |
| 0.44 | AA | Alcoa Corp | PairCorr |
Related Correlations Analysis
| -0.9 | -0.08 | -0.29 | -0.14 | SCO | ||
| -0.9 | 0.12 | 0.35 | 0.02 | USO | ||
| -0.08 | 0.12 | 0.91 | 0.36 | ERX | ||
| -0.29 | 0.35 | 0.91 | 0.12 | GUSH | ||
| -0.14 | 0.02 | 0.36 | 0.12 | NUGT | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCO | 1.74 | (0.01) | 0.00 | 0.11 | 0.00 | 4.14 | 10.80 | |||
| USO | 1.16 | 0.09 | 0.09 | (0.32) | 1.21 | 2.70 | 7.42 | |||
| ERX | 1.88 | (0.17) | 0.00 | (0.19) | 0.00 | 3.17 | 9.86 | |||
| GUSH | 2.31 | (0.32) | 0.00 | (0.33) | 0.00 | 3.71 | 13.98 | |||
| NUGT | 2.76 | 0.18 | 0.04 | 0.15 | 3.89 | 5.69 | 15.22 |