ProShares Ultra Correlations

ULE Etf

USD 13.31 0.11 0.83%

The current 90-days correlation between ProShares Ultra Euro and STKd 100 percent is 0.01 (i.e., Significant 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

Poor diversification

The correlation between ProShares Ultra Euro and DJI is 0.63 (i.e., Poor 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 metropolitan statistical area.

Moving together with ProShares Etf

0.98	UDN	Invesco DB Dollar	Pair Corr
0.66	QTJA	Innovator ETFs Trust	Pair Corr
0.67	XTOC	Innovator ETFs Trust	Pair Corr
0.73	QTAP	Innovator Growth 100	Pair Corr
0.71	XTJA	Innovator ETFs Trust	Pair Corr
0.72	XTAP	Innovator Equity Acc	Pair Corr
0.67	OASC	OneAscent Small Cap	Pair Corr
0.73	GAPR	First Trust Exchange	Pair Corr
0.71	BINC	BlackRock ETF Trust	Pair Corr
0.71	AHYB	American Century ETF	Pair Corr
0.65	MCD	McDonalds Earnings Call This Week	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.64	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.68	DD	Dupont De Nemours Earnings Call Tomorrow	Pair Corr

Moving against ProShares Etf

0.98	EUO	ProShares UltraShort Euro	Pair Corr
0.94	UUP	Invesco DB Dollar Sell-off Trend	Pair Corr
0.66	VXX	iPath Series B Downward Rally	Pair Corr
0.66	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.66	VXZ	iPath Series B	Pair Corr
0.65	VIXM	ProShares VIX Mid	Pair Corr
0.58	HPQ	HP Inc	Pair Corr
0.51	MMM	3M Company	Pair Corr

Related Correlations Analysis

	NFXS	AETH	ESMV	EMIF	USVN	EVMT	OND	RFEU	HIYS	LAYS
NFXS		-0.74	0.62	0.84	-0.12	0.87	-0.77	0.86	0.91	-0.27	NFXS
AETH	-0.74		-0.55	-0.72	0.12	-0.67	0.64	-0.76	-0.7	0.14	AETH
ESMV	0.62	-0.55		0.68	0.06	0.66	-0.42	0.66	0.74	-0.08	ESMV
EMIF	0.84	-0.72	0.68		-0.14	0.75	-0.7	0.84	0.83	-0.06	EMIF
USVN	-0.12	0.12	0.06	-0.14		-0.1	-0.17	-0.05	0.04	-0.56	USVN
EVMT	0.87	-0.67	0.66	0.75	-0.1		-0.5	0.89	0.92	-0.04	EVMT
OND	-0.77	0.64	-0.42	-0.7	-0.17	-0.5		-0.65	-0.64	0.62	OND
RFEU	0.86	-0.76	0.66	0.84	-0.05	0.89	-0.65		0.87	-0.06	RFEU
HIYS	0.91	-0.7	0.74	0.83	0.04	0.92	-0.64	0.87		-0.24	HIYS
LAYS	-0.27	0.14	-0.08	-0.06	-0.56	-0.04	0.62	-0.06	-0.24		LAYS
	NFXS	AETH	ESMV	EMIF	USVN	EVMT	OND	RFEU	HIYS	LAYS

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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

HIYS	+ 0.92	EVMT
HIYS	+ 0.91	NFXS
RFEU	+ 0.89	EVMT
EVMT	+ 0.87	NFXS
HIYS	+ 0.87	RFEU
RFEU	+ 0.86	NFXS

High negative correlations

OND	- 0.77	NFXS
RFEU	- 0.76	AETH
AETH	- 0.74	NFXS
EMIF	- 0.72	AETH
OND	- 0.7	EMIF
HIYS	- 0.7	AETH

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
NFXS	1.35	0.43	0.25	3.85	1.01	(1.60)	3.72	(1.81)	8.26
AETH	1.03	(0.15)	0.00	(0.39)	0.00	0.00	3.69	(4.27)	14.85
ESMV	0.50	0.01	(0.04)	0.09	0.79	(0.52)	1.05	(0.78)	7.02
EMIF	0.71	0.20	0.20	0.59	0.41	(0.87)	1.85	(1.34)	3.89
USVN	0.17	0.00	(0.38)	(0.02)	0.18	(0.17)	0.31	(0.29)	0.91
EVMT	0.92	0.14	0.08	0.34	1.06	(1.02)	2.36	(1.89)	7.55
OND	1.00	(0.39)	0.00	(0.37)	0.00	0.00	1.60	(2.72)	6.89
RFEU	0.41	0.07	0.00	0.95	0.32	(0.56)	0.94	(0.86)	2.44
HIYS	0.12	0.01	(0.35)	0.20	0.00	(0.15)	0.28	(0.23)	0.79
LAYS	4.05	(0.65)	0.00	(0.17)	0.00	0.00	10.53	(9.10)	31.06

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