ProShares UltraPro Correlations

Etfs . USA . 
Etf . ProShares UltraPro Short
SPXU Etf  USD 21.66  0.23  1.07%   
The current 90-days correlation between ProShares UltraPro Short and ProShares UltraPro Short is 0.84 (i.e., Very poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraPro Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraPro Short and DJI is -0.83 (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 interest.

Moving together with ProShares Etf

  1.0SH ProShares Short SP500PairCorr
  0.99PSQ ProShares Short QQQPairCorr
  1.0SDS ProShares UltraShortPairCorr
  1.0SPXS Direxion Daily SPPairCorr
  0.99QID ProShares UltraShort QQQPairCorr
  0.89RWM ProShares Short Russ Sell-off TrendPairCorr
  1.0SPDN Direxion Daily SPPairCorr
  0.91TAIL Cambria Tail RiskPairCorr
  0.95DOG ProShares Short Dow30PairCorr
  0.76JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.72KO Coca Cola Sell-off TrendPairCorr
  0.68BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Moving against ProShares Etf

  0.88CRPT First Trust SkyBridgePairCorr
  0.87NVDL GraniteShares 15x LongPairCorr
  0.87NVDX T Rex 2XPairCorr
  0.87NVDU Direxion Daily NVDAPairCorr
  0.87USD ProShares Ultra SemiPairCorr
  0.86DAPP VanEck Digital TransPairCorr
  0.79DPST Direxion Daily RegionalPairCorr
  0.77BITX Volatility Shares Trust Upward RallyPairCorr
  0.75CONL GraniteShares ETF Trust Upward RallyPairCorr
  0.94CSCO Cisco Systems Aggressive PushPairCorr
  0.93AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.92AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.87CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.85CVX Chevron Corp Sell-off TrendPairCorr
  0.83HD Home Depot Sell-off TrendPairCorr
  0.82WMT Walmart Aggressive PushPairCorr
  0.76DIS Walt Disney Aggressive PushPairCorr
  0.68XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.58GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.5IBM International Business Fiscal Year End 22nd of January 2025 PairCorr
  0.4MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.37DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

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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   
SPXS
+ 0.99
SQQQ
SPXS
+ 0.97
SDOW
SQQQ
+ 0.93
SDOW
SRTY
+ 0.93
SDOW
SRTY
+ 0.92
SPXS
SRTY
+ 0.87
SQQQ
  
High negative correlations   
SPXS
- 1.0
UPRO
UPRO
- 0.98
SQQQ
UPRO
- 0.98
SDOW
SRTY
- 0.93
UPRO

ProShares UltraPro Constituents 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.

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