ProShares Ultra Correlations

UJB Etf

USD 79.73 0.41 0.52%

The current 90-days correlation between ProShares Ultra High and Fm Compoundr Aggregate is 0.33 (i.e., Weak 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

Weak diversification

The correlation between ProShares Ultra High and DJI is 0.38 (i.e., Weak 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

0.94	CPST	Calamos ETF Trust	Pair Corr
0.93	ITDD	iShares Trust	Pair Corr
0.89	INTL	Main International ETF	Pair Corr
0.66	AIFD	TCW Artificial Intel	Pair Corr
0.88	SPYD	SPDR Portfolio SP	Pair Corr
0.81	XSLV	Invesco SP SmallCap	Pair Corr
0.85	ISRA	VanEck Israel ETF	Pair Corr
0.95	CPSA	Calamos SP 500	Pair Corr
0.84	SEA	US Global Sea	Pair Corr
0.93	GAPR	First Trust Exchange	Pair Corr
0.8	BBAX	JPMorgan BetaBuilders	Pair Corr
0.9	SCDS	JPMorgan Fundamental Data	Pair Corr
0.93	JEPI	JPMorgan Equity Premium	Pair Corr
0.87	VSDB	Vanguard Short Duration	Pair Corr
0.89	KFEB	Innovator Small Cap	Pair Corr
0.9	NRES	Xtrackers RREEF Global	Pair Corr
0.92	VT	Vanguard Total World	Pair Corr
0.85	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.94	DDX	Defined Duration Symbol Change	Pair Corr
0.91	BUFG	First Trust Exchange	Pair Corr
0.91	ZTWO	Fm 2 Year	Pair Corr
0.83	BBUS	JPMorgan BetaBuilders	Pair Corr
0.9	VAW	Vanguard Materials Index	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.88	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.89	RJMG	First Trust Exchange	Pair Corr
0.92	RYLG	Global X Russell	Pair Corr
0.83	RBUF	Innovator Small Cap	Pair Corr
0.75	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.93	VTV	Vanguard Value Index	Pair Corr
0.8	KMLM	KFA Mount Lucas	Pair Corr
0.75	MCHS	Matthews China Discovery	Pair Corr

Moving against ProShares Etf

0.73	MPAY	Exchange Traded Concepts	Pair Corr
0.56	TMF	Direxion Daily 20	Pair Corr
0.48	TYD	Direxion Daily 7	Pair Corr

Related Correlations Analysis

	CPAG	EAOM	LMBO	NSCR	EZJ	NFXS	LQAI	DAT	KEUA	BRAZ
CPAG		0.4	0.21	0.18	0.21	0.01	0.11	0.08	0.03	-0.16	CPAG
EAOM	0.4		-0.17	0.91	0.88	0.73	0.21	-0.04	0.71	0.56	EAOM
LMBO	0.21	-0.17		-0.2	-0.09	-0.62	0.74	0.72	-0.66	-0.7	LMBO
NSCR	0.18	0.91	-0.2		0.73	0.67	0.24	0.05	0.62	0.58	NSCR
EZJ	0.21	0.88	-0.09	0.73		0.66	0.26	-0.1	0.69	0.56	EZJ
NFXS	0.01	0.73	-0.62	0.67	0.66		-0.25	-0.43	0.9	0.68	NFXS
LQAI	0.11	0.21	0.74	0.24	0.26	-0.25		0.67	-0.23	-0.35	LQAI
DAT	0.08	-0.04	0.72	0.05	-0.1	-0.43	0.67		-0.49	-0.61	DAT
KEUA	0.03	0.71	-0.66	0.62	0.69	0.9	-0.23	-0.49		0.72	KEUA
BRAZ	-0.16	0.56	-0.7	0.58	0.56	0.68	-0.35	-0.61	0.72		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

NSCR	+ 0.91	EAOM
KEUA	+ 0.9	NFXS
EZJ	+ 0.88	EAOM
LQAI	+ 0.74	LMBO
NFXS	+ 0.73	EAOM
EZJ	+ 0.73	NSCR

High negative correlations

BRAZ	- 0.7	LMBO
KEUA	- 0.66	LMBO
NFXS	- 0.62	LMBO
BRAZ	- 0.61	DAT
KEUA	- 0.49	DAT
DAT	- 0.43	NFXS

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	0.15	(0.02)	0.00	(0.18)	0.00	0.00	0.29	(0.31)	0.82
EAOM	0.26	(0.01)	(0.12)	0.04	0.33	(0.26)	0.55	(0.54)	1.37
LMBO	4.98	(0.91)	0.00	(0.15)	0.00	0.00	10.98	(10.61)	27.15
NSCR	0.61	(0.03)	(0.04)	0.03	0.85	(0.58)	1.31	(1.36)	3.60
EZJ	1.38	0.07	0.05	0.11	1.85	(1.38)	3.85	(3.28)	8.75
NFXS	1.49	0.50	0.27	(1.61)	1.03	(1.78)	3.85	(2.25)	13.79
LQAI	0.73	(0.02)	(0.06)	(0.05)	1.21	(0.65)	1.30	(2.48)	5.26
DAT	1.16	(0.25)	0.00	(0.21)	0.00	0.00	2.00	(2.14)	5.74
KEUA	0.82	0.23	0.20	(5.89)	0.58	(1.01)	1.91	(1.25)	4.86
BRAZ	1.03	0.20	0.11	0.32	1.47	(1.08)	2.43	(1.96)	9.07

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