ProShares Ultra Correlations

UGL Etf

USD 71.24 3.03 4.44%

The current 90-days correlation between ProShares Ultra Gold and Goldman Sachs ActiveBeta is 0.27 (i.e., Modest diversification). 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 Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra Gold and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Gold 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 Gold. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with ProShares Etf

0.75	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
1.0	DGP	DB Gold Double	Pair Corr
0.93	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	WTIU	UBS ETRACS	Pair Corr
0.99	SHNY	Microsectors Gold	Pair Corr
0.91	MUU	Direxion Daily MU Trending	Pair Corr
0.9	MULL	GraniteShares 2x Long Trending	Pair Corr
0.87	KORU	Direxion Daily South	Pair Corr
0.95	JNUG	Direxion Daily Junior	Pair Corr
0.69	FNGD	MicroSectors FANG Index	Pair Corr
0.96	NUGT	Direxion Daily Gold	Pair Corr
0.77	BWET	ETF Managers Group	Pair Corr
0.91	FNDC	Schwab Fundamental	Pair Corr
0.81	GAPR	First Trust Exchange	Pair Corr
0.81	PMAY	Innovator SP 500	Pair Corr
0.83	QLV	FlexShares Quality Low	Pair Corr
0.86	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.82	JPIE	JP Morgan Exchange	Pair Corr
0.78	XAUG	FT Cboe Vest	Pair Corr
0.86	VGUS	Vanguard Ultra Short	Pair Corr
0.91	SCZ	iShares MSCI EAFE Sell-off Trend	Pair Corr
0.75	NCPB	Nuveen Core Plus	Pair Corr
0.86	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.82	SCDV	ETF Series Solutions	Pair Corr
0.9	FPXE	First Trust IPOX	Pair Corr
1.0	IAUM	iShares Gold Trust	Pair Corr
0.83	TLCI	Touchstone ETF Trust	Pair Corr
0.78	PSFD	Pacer Swan SOS	Pair Corr
0.73	FXC	Invesco CurrencyShares	Pair Corr
0.88	LSEQ	Harbor ETF Trust	Pair Corr
0.69	VTHR	Vanguard Russell 3000	Pair Corr
0.87	CTEX	ProShares SP Kensho	Pair Corr
0.87	WLDR	Affinity World Leaders	Pair Corr
0.86	FIDU	Fidelity MSCI Industrials	Pair Corr
0.81	UMAY	Innovator ETFs Trust	Pair Corr
0.89	EWT	iShares MSCI Taiwan	Pair Corr
0.8	SPVM	Invesco SP 500	Pair Corr
0.91	CHPS	Xtrackers Semiconductor	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.35	-0.4	0.4	0.13	-0.47	-0.07	0.34	0.42	0.38	META
MSFT	-0.35		0.82	-0.57	-0.71	0.74	0.85	0.07	-0.87	-0.92	MSFT
UBER	-0.4	0.82		-0.51	-0.57	0.81	0.6	-0.07	-0.8	-0.77	UBER
F	0.4	-0.57	-0.51		0.17	-0.46	-0.31	0.28	0.72	0.63	F
T	0.13	-0.71	-0.57	0.17		-0.47	-0.78	-0.15	0.5	0.63	T
A	-0.47	0.74	0.81	-0.46	-0.47		0.54	-0.01	-0.66	-0.8	A
CRM	-0.07	0.85	0.6	-0.31	-0.78	0.54		0.44	-0.64	-0.83	CRM
JPM	0.34	0.07	-0.07	0.28	-0.15	-0.01	0.44		0.2	-0.1	JPM
MRK	0.42	-0.87	-0.8	0.72	0.5	-0.66	-0.64	0.2		0.86	MRK
XOM	0.38	-0.92	-0.77	0.63	0.63	-0.8	-0.83	-0.1	0.86		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	+ 0.86	MRK
CRM	+ 0.85	MSFT
UBER	+ 0.82	MSFT
A	+ 0.81	UBER
A	+ 0.74	MSFT
MRK	+ 0.72	F

High negative correlations

XOM	- 0.92	MSFT
MRK	- 0.87	MSFT
XOM	- 0.83	CRM
XOM	- 0.8	A
MRK	- 0.8	UBER
CRM	- 0.78	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	1.47	0.07	0.04	0.14	1.43	(1.78)	3.43	(2.60)	13.69
MSFT	1.33	(0.37)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.55	(0.39)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
F	1.21	0.03	0.02	0.07	1.25	(1.45)	3.34	(2.30)	7.16
T	1.01	0.14	0.10	(18.48)	0.95	(1.16)	3.87	(1.76)	5.31
A	1.27	(0.31)	0.00	(0.20)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.72	(0.42)	0.00	(0.40)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.10)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.29	0.43	0.31	0.77	0.98	(1.58)	2.93	(1.98)	8.74
XOM	1.27	0.39	0.25	1.59	1.08	(1.47)	2.90	(2.12)	6.83

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