ProShares UltraPro Correlations

URTY Etf

USD 57.36 2.58 4.71%

The current 90-days correlation between ProShares UltraPro and Direxion Daily CSI is 0.59 (i.e., Very weak diversification). The correlation of ProShares UltraPro 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 UltraPro Correlation With Market

Very poor diversification

The correlation between ProShares UltraPro Russell2000 and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Russell2000 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 UltraPro Russell2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with ProShares Etf

0.68	SSO	ProShares Ultra SP500	Pair Corr
0.69	SPXL	Direxion Daily SP500	Pair Corr
0.69	UPRO	ProShares UltraPro SP500	Pair Corr
0.7	UYG	ProShares Ultra Fina	Pair Corr
0.71	ITDD	iShares Trust	Pair Corr
0.62	CPST	Calamos ETF Trust	Pair Corr
0.95	ITWO	Proshares Russell 2000	Pair Corr

Related Correlations Analysis

	CWEB	GQRE	QVMM	GVUS	JPME	TBFG	JPUS	EWD	SMOT	EWQ
CWEB		0.25	-0.34	-0.57	-0.31	-0.37	-0.33	-0.2	-0.25	-0.14	CWEB
GQRE	0.25		0.38	0.3	0.53	0.31	0.57	0.39	0.51	0.58	GQRE
QVMM	-0.34	0.38		0.94	0.96	0.86	0.93	0.84	0.95	0.69	QVMM
GVUS	-0.57	0.3	0.94		0.92	0.9	0.91	0.8	0.88	0.67	GVUS
JPME	-0.31	0.53	0.96	0.92		0.77	0.99	0.76	0.93	0.68	JPME
TBFG	-0.37	0.31	0.86	0.9	0.77		0.75	0.88	0.82	0.75	TBFG
JPUS	-0.33	0.57	0.93	0.91	0.99	0.75		0.73	0.91	0.68	JPUS
EWD	-0.2	0.39	0.84	0.8	0.76	0.88	0.73		0.88	0.85	EWD
SMOT	-0.25	0.51	0.95	0.88	0.93	0.82	0.91	0.88		0.81	SMOT
EWQ	-0.14	0.58	0.69	0.67	0.68	0.75	0.68	0.85	0.81		EWQ
	CWEB	GQRE	QVMM	GVUS	JPME	TBFG	JPUS	EWD	SMOT	EWQ

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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

JPUS	+ 0.99	JPME
JPME	+ 0.96	QVMM
SMOT	+ 0.95	QVMM
GVUS	+ 0.94	QVMM
JPUS	+ 0.93	QVMM
SMOT	+ 0.93	JPME

High negative correlations

GVUS	- 0.57	CWEB
TBFG	- 0.37	CWEB
QVMM	- 0.34	CWEB
JPUS	- 0.33	CWEB
JPME	- 0.31	CWEB
SMOT	- 0.25	CWEB

ProShares UltraPro Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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
CWEB	2.33	(0.46)	0.00	(0.14)	0.00	0.00	4.44	(4.55)	16.49
GQRE	0.45	(0.04)	0.00	(0.03)	0.00	0.00	0.78	(1.15)	2.87
QVMM	0.75	(0.02)	(0.01)	0.04	0.99	(0.74)	1.78	(1.57)	3.82
GVUS	0.55	0.01	0.01	0.07	0.64	(0.54)	1.08	(1.08)	2.52
JPME	0.59	(0.03)	(0.05)	0.02	0.76	(0.58)	1.28	(1.10)	2.86
TBFG	0.42	0.01	(0.02)	0.07	0.57	(0.41)	0.83	(0.94)	2.32
JPUS	0.51	(0.03)	(0.06)	0.02	0.61	(0.52)	0.93	(0.97)	2.44
EWD	0.72	0.04	0.03	0.10	0.86	(0.69)	1.52	(1.42)	3.28
SMOT	0.68	(0.03)	(0.03)	0.03	0.83	(0.70)	1.26	(1.22)	3.20
EWQ	0.66	0.01	(0.01)	0.07	0.72	(0.72)	1.63	(1.30)	3.22

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