ProShares Ultra Correlations

UXI Etf  USD 35.75  0.00  0.00%   
The current 90-days correlation between ProShares Ultra Indu and ProShares Ultra Consumer is -0.08 (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.

ProShares Ultra Correlation With Market

ProSharesDowDiversified AwayProSharesDowDiversified Away100%

Significant diversification

The correlation between ProShares Ultra Industrials and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Industrials and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Industrials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with ProShares Etf

  0.84HD Home DepotPairCorr
  0.63DD Dupont De NemoursPairCorr
  0.72XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.62AA Alcoa CorpPairCorr
  0.66TRV The Travelers CompaniesPairCorr

Moving against ProShares Etf

  0.31NVDL GraniteShares 15x LongPairCorr
  0.47PFE Pfizer IncPairCorr
  0.46BA BoeingPairCorr

Related Correlations Analysis

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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   
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RXLUGE
SAAUGE
UPWUGE
SAARXL
SAAUCC
  
High negative correlations   
RXLUCC
UGEUCC
UPWUCC

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.

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