ProShares Ultra Correlations
| DIG Etf | USD 41.04 0.59 1.42% |
The current 90-days correlation between ProShares Ultra Oil and ProShares UltraShort Oil is -1.0 (i.e., Pay attention - limited upside). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
ProShares Ultra Correlation With Market
Very weak diversification
The correlation between ProShares Ultra Oil and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Oil and DJI in the same portfolio, assuming nothing else is changed.
ProShares |
Moving together with ProShares Etf
| 0.72 | GUSH | Direxion Daily SP | PairCorr |
| 0.62 | OIH | VanEck Oil Services | PairCorr |
| 0.73 | XOM | Exxon Mobil Corp | PairCorr |
Moving against ProShares Etf
Related Correlations Analysis
| -0.53 | -0.46 | -0.26 | -0.22 | DUG | ||
| -0.53 | 0.87 | 0.61 | 0.81 | UYM | ||
| -0.46 | 0.87 | 0.6 | 0.87 | UYG | ||
| -0.26 | 0.61 | 0.6 | 0.33 | URE | ||
| -0.22 | 0.81 | 0.87 | 0.33 | DDM | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DUG | 2.05 | (0.19) | 0.00 | 0.10 | 0.00 | 4.75 | 12.69 | |||
| UYM | 1.53 | (0.03) | 0.00 | (0.09) | 0.00 | 2.75 | 9.55 | |||
| UYG | 1.60 | 0.11 | 0.00 | (0.01) | 0.00 | 2.75 | 12.12 | |||
| URE | 1.86 | 0.00 | 0.00 | (0.07) | 0.00 | 3.59 | 10.24 | |||
| DDM | 1.36 | (0.03) | 0.00 | (0.09) | 0.00 | 2.47 | 7.34 |