ProShares Ultra Correlations

UPW Etf

USD 26.38 0.19 0.73%

The current 90-days correlation between ProShares Ultra Utilities and Managed Portfolio Series is 0.19 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Ultra Correlation With Market

Significant diversification

The correlation between ProShares Ultra Utilities and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Utilities 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 Utilities. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with ProShares Etf

0.68	NRGU	Bank of Montreal	Pair Corr
0.71	GUSH	Direxion Daily SP	Pair Corr
0.73	AMPD	Tidal ETF Services	Pair Corr
0.72	IGEB	iShares Edge Investment	Pair Corr
0.71	ERET	iShares Environmentally	Pair Corr

Moving against ProShares Etf

0.76	UYG	ProShares Ultra Fina	Pair Corr
0.6	TECL	Direxion Daily Technology	Pair Corr
0.54	QLD	ProShares Ultra QQQ	Pair Corr
0.4	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr

Related Correlations Analysis

	LTL	UCC	RAYJ	FTXH	HECA	SCAP	PEMX	SIXZ	ITDI	LST
LTL		0.74	-0.05	0.15	0.04	0.33	0.09	0.71	0.38	0.29	LTL
UCC	0.74		-0.28	-0.09	-0.14	0.24	-0.17	0.56	0.18	0.09	UCC
RAYJ	-0.05	-0.28		0.88	0.95	0.78	0.93	0.52	0.83	0.87	RAYJ
FTXH	0.15	-0.09	0.88		0.9	0.81	0.93	0.67	0.9	0.93	FTXH
HECA	0.04	-0.14	0.95	0.9		0.86	0.98	0.64	0.92	0.94	HECA
SCAP	0.33	0.24	0.78	0.81	0.86		0.85	0.81	0.93	0.93	SCAP
PEMX	0.09	-0.17	0.93	0.93	0.98	0.85		0.65	0.93	0.95	PEMX
SIXZ	0.71	0.56	0.52	0.67	0.64	0.81	0.65		0.88	0.82	SIXZ
ITDI	0.38	0.18	0.83	0.9	0.92	0.93	0.93	0.88		0.98	ITDI
LST	0.29	0.09	0.87	0.93	0.94	0.93	0.95	0.82	0.98		LST
	LTL	UCC	RAYJ	FTXH	HECA	SCAP	PEMX	SIXZ	ITDI	LST

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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

PEMX	+ 0.98	HECA
LST	+ 0.98	ITDI
HECA	+ 0.95	RAYJ
LST	+ 0.95	PEMX
LST	+ 0.94	HECA
PEMX	+ 0.93	RAYJ

High negative correlations

RAYJ	- 0.28	UCC
PEMX	- 0.17	UCC
HECA	- 0.14	UCC
FTXH	- 0.09	UCC
RAYJ	- 0.05	LTL

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
LTL	1.25	0.02	0.01	0.12	1.40	(1.42)	2.80	(2.52)	8.94
UCC	1.60	(0.07)	0.01	0.06	2.01	(1.68)	3.36	(3.07)	9.55
RAYJ	1.08	0.19	0.12	0.30	1.08	(1.14)	2.83	(1.92)	7.83
FTXH	0.79	0.12	0.11	0.29	0.55	(1.02)	1.95	(1.24)	3.80
HECA	0.62	0.12	0.11	0.29	0.51	(0.72)	1.25	(1.20)	3.43
SCAP	0.77	0.18	0.08	(1.92)	0.76	(0.93)	1.73	(1.77)	5.16
PEMX	0.76	0.31	0.34	0.54	0.22	(0.96)	2.39	(1.06)	4.15
SIXZ	0.33	0.00	(0.10)	0.09	0.39	(0.35)	0.73	(0.74)	2.25
ITDI	0.54	0.06	0.05	0.18	0.53	(0.56)	1.01	(1.21)	3.64
LST	0.72	0.09	0.08	0.19	0.73	(0.83)	1.34	(1.11)	4.73

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