ProShares Ultra Correlations

UJB Etf

USD 79.69 0.11 0.14%

The current 90-days correlation between ProShares Ultra High and Global X Funds is 0.28 (i.e., Modest 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

Almost no diversification

The correlation between ProShares Ultra High and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra High 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 High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ProShares Etf

0.7	USD	ProShares Ultra Semi	Pair Corr
0.89	DFEN	Direxion Daily Aerospace	Pair Corr
0.82	DGP	DB Gold Double	Pair Corr
0.8	UGL	ProShares Ultra Gold	Pair Corr
0.86	NUGT	Direxion Daily Gold	Pair Corr
0.72	DIG	ProShares Ultra Oil	Pair Corr
0.7	MLPR	ETRACS Quarterly Pay	Pair Corr
0.84	DUSL	Direxion Daily Indus	Pair Corr
0.82	MNZL	Manzil Russell Halal	Pair Corr
0.75	FOPC	Advisors Inner	Pair Corr
0.92	RNMC	First Trust Mid	Pair Corr
0.83	VFMV	Vanguard Minimum Vol	Pair Corr
0.91	BUYW	Main Buywrite ETF	Pair Corr
0.9	CLIP	Global X Funds	Pair Corr
0.87	YDEC	First Trust Exchange	Pair Corr
0.92	FNX	First Trust Mid	Pair Corr
0.95	PFXF	VanEck Preferred Sec	Pair Corr
0.67	ENFR	Alerian Energy Infra	Pair Corr
0.87	ROMO	Strategy Shares Newf	Pair Corr
0.77	GRID	First Trust NASDAQ	Pair Corr
0.63	USRT	iShares Core REIT	Pair Corr
0.89	CLSE	Trust For Professional	Pair Corr
0.81	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.88	HFMF	Unlimited HFMF Managed	Pair Corr
0.64	DOGG	First Trust Exchange	Pair Corr
0.95	AAAA	Amplius Aggressive Asset	Pair Corr
0.89	EDGI	Advisors Inner	Pair Corr
0.9	FNDA	Schwab Fundamental Small	Pair Corr
0.91	CNAV	Mohr Company Low Volatility	Pair Corr
0.88	DWM	WisdomTree International	Pair Corr
0.95	QTAP	Innovator Growth 100	Pair Corr
0.77	LALT	Invesco Multi Strategy	Pair Corr
0.88	HYP	Golden Eagle Dynamic	Pair Corr
0.67	PIPE	Invesco SteelPath MLP	Pair Corr
0.79	GEND	Spinnaker ETF Series	Pair Corr

Moving against ProShares Etf

0.65

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	CPAG	EAOM	LMBO	NSCR	EZJ	NFXS	LQAI	DAT	KEUA	BRAZ
CPAG		0.75	-0.63	-0.26	0.8	0.62	0.51	-0.72	-0.77	0.7	CPAG
EAOM	0.75		-0.47	0.26	0.91	0.87	0.86	-0.69	-0.42	0.85	EAOM
LMBO	-0.63	-0.47		0.51	-0.66	-0.66	-0.15	0.79	0.67	-0.63	LMBO
NSCR	-0.26	0.26	0.51		-0.06	0.02	0.55	0.38	0.57	-0.09	NSCR
EZJ	0.8	0.91	-0.66	-0.06		0.89	0.67	-0.83	-0.6	0.9	EZJ
NFXS	0.62	0.87	-0.66	0.02	0.89		0.65	-0.77	-0.41	0.85	NFXS
LQAI	0.51	0.86	-0.15	0.55	0.67	0.65		-0.41	-0.22	0.65	LQAI
DAT	-0.72	-0.69	0.79	0.38	-0.83	-0.77	-0.41		0.69	-0.9	DAT
KEUA	-0.77	-0.42	0.67	0.57	-0.6	-0.41	-0.22	0.69		-0.56	KEUA
BRAZ	0.7	0.85	-0.63	-0.09	0.9	0.85	0.65	-0.9	-0.56		BRAZ
	CPAG	EAOM	LMBO	NSCR	EZJ	NFXS	LQAI	DAT	KEUA	BRAZ

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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

EZJ	+ 0.91	EAOM
BRAZ	+ 0.9	EZJ
NFXS	+ 0.89	EZJ
NFXS	+ 0.87	EAOM
LQAI	+ 0.86	EAOM
BRAZ	+ 0.85	EAOM

High negative correlations

BRAZ	- 0.9	DAT
DAT	- 0.83	EZJ
DAT	- 0.77	NFXS
KEUA	- 0.77	CPAG
DAT	- 0.72	CPAG
DAT	- 0.69	EAOM

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
CPAG	0.14	0.01	(0.57)	0.57	0.00	(0.16)	0.29	(0.24)	0.67
EAOM	0.24	0.03	(0.14)	0.20	0.00	(0.27)	0.61	(0.43)	1.57
LMBO	4.93	(0.35)	(0.01)	0.02	5.76	(5.68)	11.19	(9.26)	30.35
NSCR	0.62	(0.04)	(0.07)	0.06	0.77	(0.64)	1.12	(1.36)	3.91
EZJ	1.57	0.37	0.26	0.35	1.24	(1.93)	4.28	(2.91)	11.92
NFXS	1.47	0.36	0.12	(1.52)	1.48	(1.70)	3.45	(2.31)	11.06
LQAI	0.60	0.03	0.00	0.16	0.62	(0.68)	1.13	(1.08)	5.62
DAT	1.51	(0.34)	0.00	(0.13)	0.00	0.00	2.66	(3.77)	10.21
KEUA	1.60	(0.03)	0.00	0.14	0.00	0.00	2.72	(4.37)	12.63
BRAZ	1.28	0.33	0.10	3.65	1.81	(1.31)	2.53	(2.97)	9.07

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