ProShares Ultra Variance
| UYM ETF | | | USD 30.67 -1.27 -3.98% |
Variance is another measure of security risk that shows the amount of dispersion of equity returns around their mean value. Variance is calculated as the average squared deviations from the mean. Evaluating a set of investment alternatives one can use variance to help determine the volatility when purchasing a specific security. Similar to Standard Deviation, the variance is a measure of how far a set of numbers is spread out around its mean. Below is ProShares Ultra's current Variance with peer comparisons and related risk metrics.
Current Variance Value
ProShares Ultra registers a Variance of 5.47, reflecting elevated price variability. This places ProShares Ultra toward the higher end of the volatility range for ETF.
Variance | = | SUM(RET DEV)2N |
| = | 5.47 | |
| SUM | = | Summation notation |
| RET DEV | = | Actual returns deviation over selected period |
| N | = | Number of points for the period |
Variance Peers Comparison
ProShares Ultra's Variance of 5.47 falls below the 6.2 peer average. Values range from 0.5603 (JPMorgan Flexible Income) to 14.02 (Direxion Daily Retail), with wide dispersion across the group. ProShares Ultra has exhibited less price dispersion than the peer average over the measured period.
Variance Relative To Other Indicators
The chart below plots Variance against Maximum Drawdown for ProShares Ultra and its peers. Each point represents one equity — position along the horizontal axis shows Variance while the vertical axis shows Maximum Drawdown. Equities that cluster in different quadrants carry distinct risk-return profiles. Use the dropdowns to swap in other indicators for either axis.
ProShares Ultra shows nearly
1.81 of Maximum Drawdown per unit of Variance (
5.47 versus
9.88 ). This indicates Maximum Drawdown moderately exceeds Variance for ProShares Ultra.
Methodology, Assumptions & Data Sources
The current Variance for ProShares Ultra is 5.47. ProShares Ultra's Variance is computed from historical closing prices over the selected time horizon, applying the indicator's defined mathematical transformation to raw price data. All inputs are based on exchange-reported closing prices, with adjustments for stock splits, dividends, and other corporate actions. The output reflects the selected calculation window — changing the horizon will produce different readings. This ETF metric is provided for analytical reference.
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