ProShares UltraPro Correlations

SMDD Etf

USD 7.25 0.07 0.97%

The current 90-days correlation between ProShares UltraPro Short and ProShares UltraShort FTSE is 0.38 (i.e., Weak diversification). The correlation of ProShares UltraPro 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 UltraPro Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraPro Short and DJI is -0.9 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Short and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraPro Short. 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

0.96	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.92	PSQ	ProShares Short QQQ	Pair Corr
0.96	SPXU	ProShares UltraPro Short	Pair Corr
0.96	SDS	ProShares UltraShort	Pair Corr
0.96	SPXS	Direxion Daily SP	Pair Corr
0.92	QID	ProShares UltraShort QQQ	Pair Corr
0.98	RWM	ProShares Short Russ	Pair Corr
0.96	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr
0.9	TAIL	Cambria Tail Risk	Pair Corr
0.97	DOG	ProShares Short Dow30	Pair Corr
0.7	WTID	UBS ETRACS	Pair Corr
0.73	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.77	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.68	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.74	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against ProShares Etf

0.9	CRPT	First Trust SkyBridge	Pair Corr
0.89	DAPP	VanEck Digital Trans	Pair Corr
0.89	WGMI	Valkyrie Bitcoin Miners Downward Rally	Pair Corr
0.85	BITX	Volatility Shares Trust	Pair Corr
0.77	NVDL	GraniteShares 15x Long	Pair Corr
0.77	NVDU	Direxion Daily NVDA	Pair Corr
0.76	NVDX	T Rex 2X	Pair Corr
0.71	USD	ProShares Ultra Semi	Pair Corr
0.92	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.9	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.88	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.87	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.48	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.42	IBM	International Business Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

ProShares UltraPro Competition Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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