ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Dow30
DDM Etf  USD 94.30  2.49  2.71%   
The current 90-days correlation between ProShares Ultra Dow30 and ProShares Ultra SP500 is 0.89 (i.e., Very 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 Dow30 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra Dow30 and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Dow30 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Dow30. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with ProShares Etf

  0.91SSO ProShares Ultra SP500 Sell-off TrendPairCorr
  0.89SPXL Direxion Daily SP500 Sell-off TrendPairCorr
  0.81QLD ProShares Ultra QQQPairCorr
  0.89UPRO ProShares UltraPro SP500PairCorr
  0.66TECL Direxion Daily TechnologyPairCorr
  0.63LABU Direxion Daily SPPairCorr
  0.75FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.87UYG ProShares Ultra FinaPairCorr
  0.65OIH VanEck Oil ServicesPairCorr
  0.9ARKW ARK Next GenerationPairCorr
  0.72WTMF WisdomTree ManagedPairCorr
  0.8EWC iShares MSCI CanadaPairCorr
  0.87BST BlackRock Science TechPairCorr
  0.89AXP American Express Sell-off TrendPairCorr
  0.74DIS Walt DisneyPairCorr
  0.85BAC Bank of America Sell-off TrendPairCorr

Moving against ProShares Etf

  0.39TRV The Travelers CompaniesPairCorr
  0.33MRK Merck CompanyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
QLD
+ 0.98
SSO
MVV
+ 0.98
UWM
UWM
+ 0.94
QLD
UWM
+ 0.93
SSO
MVV
+ 0.93
SSO
MVV
+ 0.91
QLD
  
High negative correlations   
DXD
- 0.91
SSO
MVV
- 0.85
DXD
QLD
- 0.82
DXD
UWM
- 0.8
DXD

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY