ProShares UltraPro Correlations

TTT Etf

USD 74.29 0.49 0.66%

The current 90-days correlation between ProShares UltraPro Short and Direxion Daily 7 10 is 0.91 (i.e., Almost no 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 0.13 (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

1.0	TBT	ProShares UltraShort	Pair Corr
1.0	TMV	Direxion Daily 20	Pair Corr
1.0	TBF	ProShares Short 20	Pair Corr
0.97	PST	ProShares UltraShort	Pair Corr
0.97	TYO	Direxion Daily 7	Pair Corr
0.64	SHLD	Global X Funds	Pair Corr
0.68	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.63	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.63	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.68	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.74	CSCO	Cisco Systems	Pair Corr

Moving against ProShares Etf

0.67	FNGD	MicroSectors FANG Index	Pair Corr
0.55	SMI	VanEck Vectors ETF	Pair Corr
0.44	DUKH	Ocean Park High	Pair Corr
0.39	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.9	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.8	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.7	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.63	PFE	Pfizer Inc Buyout Trend	Pair Corr
0.57	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.49	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	-0.43	-0.25	0.54	0.31	0.65	0.42	-0.36	-0.28	META
MSFT	0.56		-0.57	-0.08	0.46	0.14	0.39	0.26	0.02	-0.8	MSFT
UBER	-0.43	-0.57		0.16	-0.72	0.1	-0.66	-0.5	0.43	0.52	UBER
F	-0.25	-0.08	0.16		0.14	-0.46	0.19	0.45	-0.27	0.3	F
T	0.54	0.46	-0.72	0.14		-0.3	0.89	0.85	-0.71	-0.34	T
A	0.31	0.14	0.1	-0.46	-0.3		-0.26	-0.47	0.57	-0.02	A
CRM	0.65	0.39	-0.66	0.19	0.89	-0.26		0.9	-0.82	-0.19	CRM
JPM	0.42	0.26	-0.5	0.45	0.85	-0.47	0.9		-0.85	-0.1	JPM
MRK	-0.36	0.02	0.43	-0.27	-0.71	0.57	-0.82	-0.85		-0.1	MRK
XOM	-0.28	-0.8	0.52	0.3	-0.34	-0.02	-0.19	-0.1	-0.1		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	+ 0.9	CRM
CRM	+ 0.89	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.85	JPM
MRK	- 0.82	CRM
XOM	- 0.8	MSFT
T	- 0.72	UBER
MRK	- 0.71	T
CRM	- 0.66	UBER

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	1.15	0.20	0.12	0.49	1.26	(1.30)	3.22	(1.87)	8.02
MSFT	0.85	0.05	0.01	0.15	1.45	(0.81)	1.83	(1.57)	8.14
UBER	1.75	(0.27)	0.00	(0.92)	0.00	0.00	2.67	(5.35)	20.41
F	1.41	(0.08)	0.00	(0.37)	0.00	0.00	2.53	(2.90)	11.21
T	1.02	0.08	0.03	0.36	1.18	(1.10)	2.36	(1.99)	6.74
A	1.22	0.00	(0.03)	0.04	1.47	(1.32)	2.71	(2.41)	9.02
CRM	1.50	0.41	0.28	0.34	1.11	(1.75)	3.59	(1.93)	13.87
JPM	1.00	0.27	0.17	(1.00)	0.90	(1.19)	1.73	(1.42)	15.87
MRK	0.92	(0.25)	0.00	(1.41)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.91	(0.07)	0.00	(0.20)	0.00	0.00	1.83	(2.14)	6.06

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