ProShares Ultra Correlations

UGE Etf

USD 17.95 0.11 0.61%

The current 90-days correlation between ProShares Ultra Consumer and ProShares Ultra Consumer is 0.19 (i.e., Average diversification). The correlation of ProShares Ultra 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 Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra Consumer and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with ProShares Etf

0.83	PG	Procter Gamble	Pair Corr
0.66	T	ATT Inc Aggressive Push	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.77	MCD	McDonalds	Pair Corr
0.71	KO	Coca Cola Sell-off Trend	Pair Corr

Moving against ProShares Etf

0.71	GUSH	Direxion Daily SP	Pair Corr
0.65	OIH	VanEck Oil Services	Pair Corr
0.51	HUM	Humana Inc	Pair Corr
0.45	WTMF	WisdomTree Managed	Pair Corr
0.59	CAT	Caterpillar	Pair Corr
0.57	AA	Alcoa Corp	Pair Corr
0.44	MRK	Merck Company	Pair Corr
0.42	BAC	Bank of America Aggressive Push	Pair Corr
0.42	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	UCC	UXI	UPW	RXL	LTL
UCC		0.68	-0.12	-0.43	0.46	UCC
UXI	0.68		0.48	0.19	0.66	UXI
UPW	-0.12	0.48		0.62	0.51	UPW
RXL	-0.43	0.19	0.62		0.44	RXL
LTL	0.46	0.66	0.51	0.44		LTL
	UCC	UXI	UPW	RXL	LTL

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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

UXI	+ 0.68	UCC
LTL	+ 0.66	UXI
RXL	+ 0.62	UPW
LTL	+ 0.51	UPW
UPW	+ 0.48	UXI
LTL	+ 0.46	UCC

High negative correlations

RXL	- 0.43	UCC
UPW	- 0.12	UCC

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
UCC	2.07	(0.57)	0.00	1.07	0.00	0.00	3.97	(5.01)	12.69
UXI	1.57	(0.14)	0.00	0.37	0.00	0.00	2.68	(3.23)	8.50
UPW	1.65	0.03	0.04	(0.11)	2.15	(1.61)	3.84	(4.20)	9.92
RXL	1.29	0.20	0.15	0.19	1.22	(1.46)	2.51	(2.20)	6.57
LTL	1.60	(0.13)	0.00	0.56	0.00	0.00	2.43	(3.53)	8.61

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