ProShares Ultra Correlations

UCYB Etf

USD 53.66 0.01 0.02%

The current 90-days correlation between ProShares Ultra Nasdaq and ProShares Ultra Cloud is 0.85 (i.e., Very 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

Average diversification

The correlation between ProShares Ultra Nasdaq and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Nasdaq and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Nasdaq. 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

0.72	SSO	ProShares Ultra SP500	Pair Corr
0.75	SPXL	Direxion Daily SP500	Pair Corr
0.76	QLD	ProShares Ultra QQQ	Pair Corr
0.68	UPRO	ProShares UltraPro SP500	Pair Corr
0.86	FNGU	MicroSectors FANG Index	Pair Corr
0.84	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.79	IVV	iShares Core SP	Pair Corr
0.89	VUG	Vanguard Growth Index	Pair Corr
0.8	WMT	Walmart Aggressive Push	Pair Corr
0.81	CSCO	Cisco Systems	Pair Corr
0.76	IBM	International Business Tech Boost	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.64	MSFT	Microsoft	Pair Corr
0.83	AXP	American Express	Pair Corr

Moving against ProShares Etf

0.58	NRGU	Bank Of Montreal	Pair Corr
0.33	LABU	Direxion Daily SP	Pair Corr
0.5	JNJ	Johnson Johnson	Pair Corr
0.49	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.44	HPQ	HP Inc	Pair Corr
0.4	INTC	Intel	Pair Corr
0.39	AA	Alcoa Corp	Pair Corr
0.36	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.36	KO	Coca Cola Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.53	-0.4	-0.48	0.6	0.78	0.5	0.64	-0.12	-0.63	META
MSFT	0.53		-0.46	-0.22	0.43	0.35	0.63	0.25	0.01	-0.43	MSFT
UBER	-0.4	-0.46		0.64	-0.29	-0.17	-0.62	-0.21	0.25	0.77	UBER
F	-0.48	-0.22	0.64		0.05	-0.31	-0.06	-0.05	0.05	0.9	F
T	0.6	0.43	-0.29	0.05		0.43	0.72	0.6	-0.15	-0.19	T
A	0.78	0.35	-0.17	-0.31	0.43		0.29	0.73	-0.18	-0.4	A
CRM	0.5	0.63	-0.62	-0.06	0.72	0.29		0.51	-0.25	-0.34	CRM
JPM	0.64	0.25	-0.21	-0.05	0.6	0.73	0.51		-0.52	-0.25	JPM
MRK	-0.12	0.01	0.25	0.05	-0.15	-0.18	-0.25	-0.52		0.13	MRK
XOM	-0.63	-0.43	0.77	0.9	-0.19	-0.4	-0.34	-0.25	0.13		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
A	+ 0.78	META
XOM	+ 0.77	UBER
JPM	+ 0.73	A
CRM	+ 0.72	T
JPM	+ 0.64	META

High negative correlations

XOM	- 0.63	META
CRM	- 0.62	UBER
MRK	- 0.52	JPM
F	- 0.48	META
UBER	- 0.46	MSFT
XOM	- 0.43	MSFT

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
META	1.40	0.26	0.13	0.73	1.40	(1.60)	3.43	(2.31)	7.43
MSFT	1.11	(0.04)	0.00	(0.73)	0.00	0.00	2.20	(2.79)	10.31
UBER	1.55	(0.21)	0.00	(2.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.46	(0.15)	0.00	(0.17)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.11	0.07	0.29	1.06	(1.12)	1.91	(1.84)	7.94
A	1.19	0.20	0.13	0.49	1.05	(1.41)	2.92	(2.16)	8.06
CRM	1.55	0.24	0.11	0.87	1.52	(1.81)	3.70	(2.95)	14.80
JPM	1.03	0.27	0.18	0.92	1.00	(1.23)	1.92	(1.42)	15.87
MRK	1.00	(0.08)	0.00	(0.29)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.86	(0.19)	0.00	(0.33)	0.00	0.00	1.71	(1.93)	6.06

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