ProShares UltraPro Correlations

Etfs . USA . 
Etf . ProShares UltraPro Dow30
UDOW Etf  USD 111.10  0.96  0.86%   
The current 90-days correlation between ProShares UltraPro Dow30 and ProShares UltraPro Short is -1.0 (i.e., Pay attention - limited upside). The correlation of ProShares UltraPro 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 UltraPro Correlation With Market

No risk reduction

The correlation between ProShares UltraPro Dow30 and DJI is 1.0 (i.e., No risk reduction) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Dow30 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 UltraPro Dow30. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with ProShares Etf

  0.96SSO ProShares Ultra SP500PairCorr
  0.96SPXL Direxion Daily SP500PairCorr
  0.9QLD ProShares Ultra QQQPairCorr
  0.96UPRO ProShares UltraPro SP500PairCorr
  0.84TECL Direxion Daily TechnologyPairCorr
  0.67GUSH Direxion Daily SPPairCorr
  0.9FNGU MicroSectors FANG IndexPairCorr
  0.91UYG ProShares Ultra FinaPairCorr
  0.62OIH VanEck Oil ServicesPairCorr
  0.9ARKW ARK Next GenerationPairCorr
  0.65WTMF WisdomTree ManagedPairCorr
  0.92EWC iShares MSCI CanadaPairCorr
  0.85BST BlackRock Science TechPairCorr
  0.87AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.85WMT Walmart Aggressive PushPairCorr
  0.96AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.64XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.82HD Home Depot Sell-off TrendPairCorr
  0.78TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.72T ATT Inc Aggressive PushPairCorr
  0.9CSCO Cisco Systems Aggressive PushPairCorr
  0.83DIS Walt Disney Aggressive PushPairCorr
  0.81CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.87CVX Chevron Corp Sell-off TrendPairCorr
  0.8JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against ProShares Etf

  0.74JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.64NRGU Bank Of MontrealPairCorr
  0.42HUM Humana Inc Fiscal Year End 23rd of January 2025 PairCorr
  0.32IRET Tidal Trust IIPairCorr
  0.72MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.68KO Coca Cola Sell-off TrendPairCorr
  0.64PFE Pfizer Inc Aggressive PushPairCorr
  0.64BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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   
SPXL
+ 1.0
UPRO
TECL
+ 0.94
UPRO
TECL
+ 0.94
SPXL
URTY
+ 0.9
UPRO
SPXL
+ 0.9
URTY
TECL
+ 0.75
URTY
  
High negative correlations   
SPXL
- 0.98
SDOW
UPRO
- 0.98
SDOW
URTY
- 0.92
SDOW
TECL
- 0.87
SDOW

ProShares UltraPro Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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.

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