ProShares Ultra Correlations

UYM Etf

USD 28.38 0.17 0.60%

The current 90-days correlation between ProShares Ultra Basic and Innovator SP 500 is 0.53 (i.e., Very weak 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 0.72 (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 manufacturing.

Moving together with ProShares Etf

0.63	SSO	ProShares Ultra SP500	Pair Corr
0.73	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.77	UYG	ProShares Ultra Fina	Pair Corr
0.74	AMPD	Tidal ETF Services	Pair Corr
0.84	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.88	JEPI	JPMorgan Equity Premium	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.92	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.74	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.85	BA	Boeing	Pair Corr
0.65	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.62	INTC	Intel Aggressive Push	Pair Corr

Moving against ProShares Etf

0.57	MPAY	Exchange Traded Concepts	Pair Corr
0.58	HPQ	HP Inc	Pair Corr
0.49	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	UNOV	PSMO	XDQQ	EAPR	PSCW	MAYW	XBOC	IAUG	JUNW	MARW
UNOV		0.97	0.85	0.88	0.95	0.93	0.97	0.93	0.91	0.9	UNOV
PSMO	0.97		0.87	0.92	0.98	0.96	0.99	0.92	0.95	0.93	PSMO
XDQQ	0.85	0.87		0.9	0.84	0.83	0.88	0.78	0.91	0.89	XDQQ
EAPR	0.88	0.92	0.9		0.93	0.94	0.92	0.9	0.98	0.98	EAPR
PSCW	0.95	0.98	0.84	0.93		0.99	0.98	0.94	0.96	0.96	PSCW
MAYW	0.93	0.96	0.83	0.94	0.99		0.96	0.93	0.97	0.97	MAYW
XBOC	0.97	0.99	0.88	0.92	0.98	0.96		0.93	0.95	0.94	XBOC
IAUG	0.93	0.92	0.78	0.9	0.94	0.93	0.93		0.93	0.92	IAUG
JUNW	0.91	0.95	0.91	0.98	0.96	0.97	0.95	0.93		0.99	JUNW
MARW	0.9	0.93	0.89	0.98	0.96	0.97	0.94	0.92	0.99		MARW
	UNOV	PSMO	XDQQ	EAPR	PSCW	MAYW	XBOC	IAUG	JUNW	MARW

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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
UNOV	0.23	(0.01)	(0.20)	0.07	0.28	(0.23)	0.45	(0.55)	1.62
PSMO	0.26	0.00	(0.20)	0.10	0.18	(0.29)	0.56	(0.53)	1.52
XDQQ	0.73	0.08	0.00	0.51	0.93	(0.73)	1.69	(1.69)	5.41
EAPR	0.15	0.03	(0.32)	0.46	0.00	(0.19)	0.41	(0.27)	1.14
PSCW	0.16	0.01	(0.36)	0.14	0.00	(0.18)	0.40	(0.29)	1.20
MAYW	0.11	0.01	(0.47)	0.14	0.00	(0.13)	0.27	(0.21)	0.76
XBOC	0.27	0.00	(0.15)	0.10	0.25	(0.27)	0.60	(0.54)	1.76
IAUG	0.28	0.02	(0.12)	0.16	0.20	(0.32)	0.60	(0.54)	1.39
JUNW	0.13	0.02	(0.38)	0.51	0.00	(0.14)	0.31	(0.24)	0.82
MARW	0.14	0.03	(0.25)	0.47	0.00	(0.15)	0.39	(0.33)	0.98

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