ProShares Ultra Correlations

UVXY Etf

USD 38.51 0.08 0.21%

The current 90-days correlation between ProShares Ultra VIX and ProShares Short QQQ is 0.8 (i.e., Very poor 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

Pay attention - limited upside

The correlation between ProShares Ultra VIX and DJI is -0.89 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra VIX 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 VIX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with ProShares Etf

1.0	VXX	iPath Series B Sell-off Trend	Pair Corr
1.0	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.98	VIXM	ProShares VIX Mid	Pair Corr
0.98	VXZ	iPath Series B Low Volatility	Pair Corr

Moving against ProShares Etf

0.8	CEFD	ETRACS Monthly Pay	Pair Corr
0.77	JNUG	Direxion Daily Junior	Pair Corr
0.75	NUGT	Direxion Daily Gold	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	UDN	Invesco DB Dollar	Pair Corr
0.67	MUU	Direxion Daily MU Trending	Pair Corr
0.67	MULL	GraniteShares 2x Long Trending	Pair Corr
0.63	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.57	KORU	Direxion Daily South	Pair Corr
0.42	FNGD	MicroSectors FANG Index	Pair Corr
0.39	BWET	ETF Managers Group	Pair Corr
0.32	YCS	ProShares UltraShort Yen	Pair Corr
0.96	XAUG	FT Cboe Vest	Pair Corr
0.95	PSFD	Pacer Swan SOS	Pair Corr
0.94	XYLD	Global X SP	Pair Corr
0.88	IQSZ	Invesco Actively Managed	Pair Corr
0.88	PFFA	Virtus InfraCap Preferred	Pair Corr
0.85	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.84	FPXE	First Trust IPOX	Pair Corr
0.73	CHPS	Xtrackers Semiconductor	Pair Corr
0.71	GENW	Spinnaker ETF Series	Pair Corr
0.71	DBA	Invesco DB Agriculture	Pair Corr
0.71	BSMS	Invesco BulletShares 2028	Pair Corr
0.7	REGL	ProShares SP MidCap	Pair Corr
0.67	NCPB	Nuveen Core Plus	Pair Corr
0.63	SHNY	Microsectors Gold	Pair Corr
0.62	FHLC	Fidelity MSCI Health	Pair Corr
0.6	EMES	Harbor ETF Trust	Pair Corr
0.53	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.95	JANW	AIM ETF Products	Pair Corr
0.95	SIXJ	AIM ETF Products	Pair Corr
0.95	GAPR	First Trust Exchange	Pair Corr
0.85	PFF	iShares Preferred Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.38	-0.43	0.41	0.14	-0.49	-0.08	0.34	0.45	0.41	META
MSFT	-0.38		0.81	-0.55	-0.68	0.73	0.83	0.07	-0.86	-0.91	MSFT
UBER	-0.43	0.81		-0.49	-0.53	0.8	0.58	-0.08	-0.8	-0.76	UBER
F	0.41	-0.55	-0.49		0.14	-0.45	-0.28	0.28	0.7	0.62	F
T	0.14	-0.68	-0.53	0.14		-0.44	-0.77	-0.14	0.45	0.6	T
A	-0.49	0.73	0.8	-0.45	-0.44		0.52	-0.02	-0.66	-0.79	A
CRM	-0.08	0.83	0.58	-0.28	-0.77	0.52		0.44	-0.61	-0.82	CRM
JPM	0.34	0.07	-0.08	0.28	-0.14	-0.02	0.44		0.21	-0.09	JPM
MRK	0.45	-0.86	-0.8	0.7	0.45	-0.66	-0.61	0.21		0.84	MRK
XOM	0.41	-0.91	-0.76	0.62	0.6	-0.79	-0.82	-0.09	0.84		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.84	MRK
CRM	+ 0.83	MSFT
UBER	+ 0.81	MSFT
A	+ 0.8	UBER
A	+ 0.73	MSFT
MRK	+ 0.7	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.86	MSFT
XOM	- 0.82	CRM
MRK	- 0.8	UBER
XOM	- 0.79	A
CRM	- 0.77	T

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
META	1.50	0.02	0.00	0.07	1.52	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.38)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.44)	0.00	(0.83)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.07	0.05	0.13	1.18	(1.44)	3.34	(2.30)	7.16
T	1.00	0.21	0.17	6.48	0.77	(1.18)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.22)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.71	(0.45)	0.00	(0.42)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.10)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.29	0.43	0.31	0.78	1.00	(1.59)	2.93	(1.98)	8.74
XOM	1.25	0.32	0.20	1.60	1.14	(1.43)	2.68	(2.12)	6.83

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