Proshares Ultra Sp500 Etf Market Value
| SSO Etf | USD 95.92 0.54 0.57% |
| Symbol | ProShares |
The market value of ProShares Ultra SP500 is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Ultra's value that differs from its market value or its book value, called intrinsic value, which is ProShares Ultra's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares Ultra's market value can be influenced by many factors that don't directly affect ProShares Ultra's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares Ultra's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Ultra is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Ultra's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
ProShares Ultra 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to ProShares Ultra's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of ProShares Ultra.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in ProShares Ultra on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Ultra SP500 or generate 0.0% return on investment in ProShares Ultra over 30 days. ProShares Ultra is related to or competes with ProShares Ultra, ProShares Ultra, ProShares UltraShort, ProShares Ultra, and ProShares UltraShort. The fund invests in financial instruments that the advisors believe, in combination, should produce daily returns consis... More
ProShares Ultra Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure ProShares Ultra's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess ProShares Ultra SP500 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.63 | |||
| Information Ratio | 0.043 | |||
| Maximum Drawdown | 7.58 | |||
| Value At Risk | (2.62) | |||
| Potential Upside | 2.17 |
ProShares Ultra Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Ultra's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Ultra's standard deviation. In reality, there are many statistical measures that can use ProShares Ultra historical prices to predict the future ProShares Ultra's volatility.| Risk Adjusted Performance | 0.1036 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.0403 | |||
| Treynor Ratio | 0.1123 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Ultra's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
ProShares Ultra SP500 Backtested Returns
As of now, ProShares Etf is very steady. ProShares Ultra SP500 maintains Sharpe Ratio (i.e., Efficiency) of 0.11, which implies the entity had a 0.11% return per unit of risk over the last 3 months. We have found thirty technical indicators for ProShares Ultra SP500, which you can use to evaluate the volatility of the etf. Please check ProShares Ultra's Coefficient Of Variation of 777.99, semi deviation of 1.4, and Risk Adjusted Performance of 0.1036 to confirm if the risk estimate we provide is consistent with the expected return of 0.17%. The etf holds a Beta of 1.66, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, ProShares Ultra will likely underperform.
Auto-correlation | 0.39 |
Below average predictability
ProShares Ultra SP500 has below average predictability. Overlapping area represents the amount of predictability between ProShares Ultra time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of ProShares Ultra SP500 price movement. The serial correlation of 0.39 indicates that just about 39.0% of current ProShares Ultra price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.39 | |
| Spearman Rank Test | -0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 1.64 |
ProShares Ultra SP500 lagged returns against current returns
Autocorrelation, which is ProShares Ultra etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting ProShares Ultra's etf expected returns. We can calculate the autocorrelation of ProShares Ultra returns to help us make a trade decision. For example, suppose you find that ProShares Ultra has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
ProShares Ultra regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If ProShares Ultra etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Ultra etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Ultra etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Ultra Lagged Returns
When evaluating ProShares Ultra's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Ultra etf have on its future price. ProShares Ultra autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, ProShares Ultra autocorrelation shows the relationship between ProShares Ultra etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Ultra SP500.
Regressed Prices |
| Timeline |
Pair Trading with ProShares Ultra
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ProShares Ultra position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ProShares Ultra will appreciate offsetting losses from the drop in the long position's value.Moving together with ProShares Etf
| 1.0 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.98 | QLD | ProShares Ultra QQQ | PairCorr |
| 1.0 | UPRO | ProShares UltraPro SP500 | PairCorr |
Moving against ProShares Etf
The ability to find closely correlated positions to ProShares Ultra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Ultra when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares Ultra - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares Ultra SP500 to buy it.
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 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 SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for ProShares Ultra can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out ProShares Ultra Correlation, ProShares Ultra Volatility and ProShares Ultra Alpha and Beta module to complement your research on ProShares Ultra. You can also try the Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
ProShares Ultra technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.