ProShares Ultra Correlations

UCO Etf

USD 25.53 0.03 0.12%

The current 90-days correlation between ProShares Ultra Bloomberg and ProShares UltraShort Bloomberg is -1.0 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra Bloomberg and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Bloomberg 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 Ultra Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ProShares Etf

0.72

WTIU

UBS ETRACS

Pair Corr

Moving against ProShares Etf

0.39	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.38	PG	Procter Gamble	Pair Corr
0.37	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	SCO	USO	ERX	GUSH	NUGT
SCO		-0.96	-0.65	-0.66	-0.15	SCO
USO	-0.96		0.48	0.54	0.21	USO
ERX	-0.65	0.48		0.96	-0.37	ERX
GUSH	-0.66	0.54	0.96		-0.4	GUSH
NUGT	-0.15	0.21	-0.37	-0.4		NUGT
	SCO	USO	ERX	GUSH	NUGT

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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

GUSH	+ 0.96	ERX
GUSH	+ 0.54	USO
ERX	+ 0.48	USO
NUGT	+ 0.21	USO

High negative correlations

USO	- 0.96	SCO
GUSH	- 0.66	SCO
ERX	- 0.65	SCO
NUGT	- 0.4	GUSH
NUGT	- 0.37	ERX
NUGT	- 0.15	SCO

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
SCO	2.88	0.18	0.02	1.08	3.34	(2.92)	6.10	(5.33)	15.79
USO	1.74	(0.10)	0.00	1.67	0.00	0.00	3.33	(4.17)	9.20
ERX	1.86	(0.03)	0.00	0.10	2.51	(1.85)	3.65	(3.99)	11.63
GUSH	2.47	(0.11)	0.00	0.06	3.12	(2.52)	4.29	(4.96)	14.55
NUGT	2.95	(0.18)	0.00	(0.70)	0.00	0.00	5.43	(6.14)	21.53

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