ProShares UltraPro Correlations

SRTY Etf

USD 23.52 0.45 1.95%

The current 90-days correlation between ProShares UltraPro Short and FT Vest Equity is -0.05 (i.e., Good 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

Average diversification

The correlation between ProShares UltraPro Short and DJI is 0.1 (i.e., Average diversification) 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 estimate.

Moving together with ProShares Etf

0.96	SH	ProShares Short SP500	Pair Corr
0.95	PSQ	ProShares Short QQQ	Pair Corr
0.93	SPXU	ProShares UltraPro Short	Pair Corr
0.94	SDS	ProShares UltraShort	Pair Corr
0.91	SPXS	Direxion Daily SP	Pair Corr
0.94	QID	ProShares UltraShort QQQ	Pair Corr
1.0	RWM	ProShares Short Russ	Pair Corr
0.96	SPDN	Direxion Daily SP	Pair Corr
0.87	TAIL	Cambria Tail Risk	Pair Corr
0.86	DOG	ProShares Short Dow30 Sell-off Trend	Pair Corr
0.69	JNJ	Johnson Johnson	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr

Moving against ProShares Etf

0.93	UPRO	ProShares UltraPro SP500	Pair Corr
0.87	QTOC	Innovator ETFs Trust	Pair Corr
0.83	XTOC	Innovator ETFs Trust	Pair Corr
0.81	QTJA	Innovator ETFs Trust	Pair Corr
0.78	XTJA	Innovator ETFs Trust	Pair Corr
0.55	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.88	AXP	American Express Sell-off Trend	Pair Corr
0.86	HPQ	HP Inc	Pair Corr
0.85	BAC	Bank of America Sell-off Trend	Pair Corr
0.82	DIS	Walt Disney	Pair Corr
0.81	MSFT	Microsoft	Pair Corr
0.72	BA	Boeing	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.7	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL
DHDG		0.94	-0.01	0.85	-0.3	-0.23	0.81	0.01	0.88	DHDG
MBCC	0.94		0.18	0.75	-0.13	-0.06	0.78	0.22	0.86	MBCC
DIHP	-0.01	0.18		-0.38	0.89	0.96	-0.28	0.93	-0.17	DIHP
MCDS	0.85	0.75	-0.38		-0.61	-0.57	0.9	-0.29	0.93	MCDS
MCHS	-0.3	-0.13	0.89	-0.61		0.94	-0.54	0.86	-0.43	MCHS
DISV	-0.23	-0.06	0.96	-0.57	0.94		-0.5	0.86	-0.41	DISV
DJAN	0.81	0.78	-0.28	0.9	-0.54	-0.5		-0.2	0.95	DJAN
MDLV	0.01	0.22	0.93	-0.29	0.86	0.86	-0.2		-0.08	MDLV
DJUL	0.88	0.86	-0.17	0.93	-0.43	-0.41	0.95	-0.08		DJUL
	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL

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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

DISV	+ 0.96	DIHP
DJUL	+ 0.95	DJAN
MBCC	+ 0.94	DHDG
DISV	+ 0.94	MCHS
MDLV	+ 0.93	DIHP
DJUL	+ 0.93	MCDS

High negative correlations

MCHS	- 0.61	MCDS
DISV	- 0.57	MCDS
DJAN	- 0.54	MCHS
DJAN	- 0.5	DISV
DJUL	- 0.43	MCHS
DJUL	- 0.41	DISV

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DHDG	0.43	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.94)	2.86
MBCC	0.76	(0.03)	0.00	(0.10)	0.00	0.00	1.34	(2.25)	4.26
DIHP	0.59	0.12	0.18	0.16	0.67	(0.63)	1.30	(1.21)	3.71
MCDS	0.79	(0.14)	0.00	1.11	0.00	0.00	1.28	(2.08)	4.01
MCHS	1.14	0.17	0.19	1.25	1.07	(1.27)	2.90	(1.70)	5.93
DISV	0.65	0.18	0.22	0.24	0.68	(0.66)	1.54	(1.20)	5.30
DJAN	0.29	(0.04)	0.00	0.53	0.00	0.00	0.61	(0.77)	2.02
MDLV	0.56	0.04	0.13	(0.70)	0.82	(0.52)	1.08	(1.52)	3.33
DJUL	0.45	(0.07)	0.00	0.57	0.00	0.00	0.80	(1.08)	2.99

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