ProShares Ultra Correlations

UYM Etf

USD 27.68 0.85 3.17%

The current 90-days correlation between ProShares Ultra Basic and ProShares Ultra Industrials is 0.73 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Basic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra Basic and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Basic 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 Basic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with ProShares Etf

0.65	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.85	UYG	ProShares Ultra Fina	Pair Corr
0.66	AMPD	Tidal ETF Services	Pair Corr
0.77	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.81	JEPI	JPMorgan Equity Premium	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.62	WMT	Walmart Common Stock	Pair Corr
0.76	BA	Boeing	Pair Corr
0.64	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.43	MPAY	Exchange Traded Concepts	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.32	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	UXI	UMDD	SAA	CBSE	JFLI	EET	RETL	WBIF	ASHS	FDRV
UXI		0.91	0.85	0.57	0.72	0.77	0.76	0.65	0.81	0.52	UXI
UMDD	0.91		0.97	0.58	0.79	0.59	0.89	0.57	0.67	0.32	UMDD
SAA	0.85	0.97		0.53	0.76	0.49	0.91	0.54	0.54	0.26	SAA
CBSE	0.57	0.58	0.53		0.15	0.36	0.7	0.44	0.39	0.68	CBSE
JFLI	0.72	0.79	0.76	0.15		0.58	0.61	0.55	0.66	0.02	JFLI
EET	0.77	0.59	0.49	0.36	0.58		0.34	0.43	0.84	0.55	EET
RETL	0.76	0.89	0.91	0.7	0.61	0.34		0.55	0.48	0.3	RETL
WBIF	0.65	0.57	0.54	0.44	0.55	0.43	0.55		0.54	0.61	WBIF
ASHS	0.81	0.67	0.54	0.39	0.66	0.84	0.48	0.54		0.43	ASHS
FDRV	0.52	0.32	0.26	0.68	0.02	0.55	0.3	0.61	0.43		FDRV
	UXI	UMDD	SAA	CBSE	JFLI	EET	RETL	WBIF	ASHS	FDRV

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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
UXI	1.52	(0.04)	0.02	0.06	1.99	(1.54)	2.55	(3.39)	7.53
UMDD	2.38	(0.04)	0.05	0.07	2.90	(2.38)	5.68	(4.92)	11.99
SAA	1.88	(0.03)	0.05	0.07	2.18	(2.08)	3.62	(4.20)	8.62
CBSE	1.19	(0.09)	(0.04)	0.02	1.52	(1.16)	2.00	(2.73)	7.39
JFLI	0.37	0.03	(0.08)	0.29	0.41	(0.38)	0.77	(0.83)	1.95
EET	1.48	0.04	0.05	0.11	1.79	(1.62)	3.35	(2.39)	9.55
RETL	2.99	(0.05)	0.06	0.07	3.45	(3.70)	6.96	(6.25)	18.57
WBIF	0.63	(0.02)	0.00	(0.10)	0.00	0.00	1.26	(1.27)	4.36
ASHS	1.03	0.11	0.05	0.24	1.38	(1.02)	1.76	(1.91)	6.19
FDRV	1.22	(0.15)	0.00	(0.01)	0.00	0.00	2.26	(2.99)	8.00

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