ProShares Ultra Correlations

UPW Etf

USD 21.44 0.68 3.07%

The current 90-days correlation between ProShares Ultra Utilities and Managed Portfolio Series is -0.07 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Ultra Correlation With Market

Excellent diversification

The correlation between ProShares Ultra Utilities and DJI is -0.66 (i.e., Excellent 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 board of governors.

Moving together with ProShares Etf

0.76

MPAY

Exchange Traded Concepts

Pair Corr

Moving against ProShares Etf

0.75	LABU	Direxion Daily SP	Pair Corr
0.73	CPST	Calamos ETF Trust	Pair Corr
0.69	UYG	ProShares Ultra Fina	Pair Corr
0.59	BAC	Bank of America Aggressive Push	Pair Corr
0.57	MCD	McDonalds	Pair Corr
0.56	ITDD	iShares Trust	Pair Corr
0.41	SSO	ProShares Ultra SP500	Pair Corr
0.37	SPXL	Direxion Daily SP500	Pair Corr
0.36	UPRO	ProShares UltraPro SP500	Pair Corr
0.8	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.71	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.58	BA	Boeing	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.48	AXP	American Express	Pair Corr
0.44	PFE	Pfizer Inc Earnings Call Today	Pair Corr
0.4	DIS	Walt Disney	Pair Corr
0.32	INTC	Intel Aggressive Push	Pair Corr

Related Correlations Analysis

	LTL	UCC	RAYJ	FTXH	HECA	SCAP	PEMX	SIXZ	ITDI	LST
LTL		0.65	0.2	0.58	0.47	0.66	0.55	0.85	0.77	0.72	LTL
UCC	0.65		0.52	0.33	0.57	0.62	0.53	0.74	0.73	0.74	UCC
RAYJ	0.2	0.52		0.2	0.8	0.46	0.69	0.47	0.62	0.61	RAYJ
FTXH	0.58	0.33	0.2		0.55	0.85	0.63	0.73	0.69	0.75	FTXH
HECA	0.47	0.57	0.8	0.55		0.73	0.94	0.73	0.86	0.87	HECA
SCAP	0.66	0.62	0.46	0.85	0.73		0.79	0.9	0.89	0.91	SCAP
PEMX	0.55	0.53	0.69	0.63	0.94	0.79		0.8	0.92	0.88	PEMX
SIXZ	0.85	0.74	0.47	0.73	0.73	0.9	0.8		0.96	0.9	SIXZ
ITDI	0.77	0.73	0.62	0.69	0.86	0.89	0.92	0.96		0.95	ITDI
LST	0.72	0.74	0.61	0.75	0.87	0.91	0.88	0.9	0.95		LST
	LTL	UCC	RAYJ	FTXH	HECA	SCAP	PEMX	SIXZ	ITDI	LST

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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	0.00	0.01	0.05	1.38	(1.45)	2.34	(2.52)	6.50
UCC	1.77	(0.01)	(0.02)	0.00	2.35	(1.78)	3.46	(4.27)	10.45
RAYJ	1.09	0.05	0.01	0.48	1.47	(1.01)	2.60	(2.20)	7.83
FTXH	0.82	0.21	0.26	0.40	0.49	(1.06)	1.95	(1.24)	4.73
HECA	0.57	0.07	0.03	1.15	0.66	(0.60)	1.06	(1.15)	2.49
SCAP	0.76	0.09	0.10	0.15	0.75	(0.93)	1.51	(1.62)	3.80
PEMX	0.75	0.17	0.16	0.29	0.77	(0.84)	1.82	(1.75)	4.15
SIXZ	0.30	0.01	(0.04)	0.06	0.38	(0.31)	0.73	(0.75)	2.23
ITDI	0.53	0.02	0.01	0.07	0.74	(0.49)	1.01	(1.29)	3.15
LST	0.67	0.07	0.03	1.20	0.75	(0.74)	1.33	(1.26)	3.66

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