ProShares Ultra Correlations

ULE Etf

USD 13.28 0.05 0.38%

The current 90-days correlation between ProShares Ultra Euro and Lottery is -0.02 (i.e., Good 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

Very weak diversification

The correlation between ProShares Ultra Euro and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Euro 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 Euro. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with ProShares Etf

0.96	UDN	Invesco DB Dollar	Pair Corr
0.73	DGP	DB Gold Double	Pair Corr
0.74	UGL	ProShares Ultra Gold	Pair Corr
0.64	NUGT	Direxion Daily Gold	Pair Corr
0.65	AUMI	Themes Gold Miners	Pair Corr
0.66	DISV	Dimensional ETF Trust	Pair Corr
0.61	UAUG	Innovator Equity Ultra	Pair Corr
0.64	ESGD	iShares ESG Aware	Pair Corr
0.61	FEM	First Trust Emerging	Pair Corr
0.62	RSST	Return Stacked Stocks	Pair Corr
0.66	AVDS	Avantis International	Pair Corr
0.66	ILOW	AB Active ETFs	Pair Corr
0.63	QTAP	Innovator Growth 100	Pair Corr

Moving against ProShares Etf

0.98	EUO	ProShares UltraShort Euro	Pair Corr
0.96	UUP	Invesco DB Dollar Sell-off Trend	Pair Corr
0.56	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.5	YCS	ProShares UltraShort Yen	Pair Corr
0.47	VXX	iPath Series B Low Volatility	Pair Corr
0.47	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.43	VIXM	ProShares VIX Mid	Pair Corr

Related Correlations Analysis

	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL	SEGI	SEGG
MSTSX		0.81	0.91	0.98	0.43	0.0	-0.2	0.77	-0.61	-0.08	MSTSX
LBHIX	0.81		0.82	0.85	0.49	0.0	-0.28	0.72	-0.56	-0.04	LBHIX
VIASP	0.91	0.82		0.95	0.37	0.0	-0.32	0.85	-0.68	0.06	VIASP
RRTLX	0.98	0.85	0.95		0.4	0.0	-0.2	0.86	-0.63	-0.01	RRTLX
WQTM	0.43	0.49	0.37	0.4		0.0	-0.1	0.11	-0.15	0.1	WQTM
OSHDF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OSHDF
SITKF	-0.2	-0.28	-0.32	-0.2	-0.1	0.0		-0.13	0.31	-0.21	SITKF
RWAYL	0.77	0.72	0.85	0.86	0.11	0.0	-0.13		-0.58	0.03	RWAYL
SEGI	-0.61	-0.56	-0.68	-0.63	-0.15	0.0	0.31	-0.58		0.06	SEGI
SEGG	-0.08	-0.04	0.06	-0.01	0.1	0.0	-0.21	0.03	0.06		SEGG
	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL	SEGI	SEGG

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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

RRTLX	+ 0.98	MSTSX
RRTLX	+ 0.95	VIASP
VIASP	+ 0.91	MSTSX
RWAYL	+ 0.86	RRTLX
RRTLX	+ 0.85	LBHIX
RWAYL	+ 0.85	VIASP

High negative correlations

SEGI	- 0.68	VIASP
SEGI	- 0.63	RRTLX
SEGI	- 0.61	MSTSX
SEGI	- 0.58	RWAYL
SEGI	- 0.56	LBHIX
SITKF	- 0.32	VIASP

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
MSTSX	0.60	0.20	0.25	0.37	0.00	(0.74)	0.93	(0.88)	12.34
LBHIX	0.12	0.04	(0.35)	0.46	0.00	(0.22)	0.24	(0.12)	2.15
VIASP	0.28	0.05	(0.09)	10.66	0.17	(0.33)	0.64	(0.59)	1.72
RRTLX	0.25	0.07	0.06	0.31	0.00	(0.34)	0.57	(0.40)	3.30
WQTM	1.68	0.07	0.05	0.12	1.88	(1.73)	3.48	(3.22)	9.00
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SITKF	2.67	0.20	0.06	0.28	2.79	(3.55)	7.81	(5.71)	16.83
RWAYL	0.12	0.01	(0.39)	0.46	0.00	(0.15)	0.24	(0.20)	0.88
SEGI	11.24	0.91	0.04	1.79	11.89	(29.49)	33.33	(25.00)	58.33
SEGG	10.85	0.48	0.04	(2.41)	9.29	(16.75)	28.00	(16.76)	101.30

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