ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Euro
ULE Etf  USD 11.34  0.09  0.79%   
The current 90-days correlation between ProShares Ultra Euro and ProShares Ultra Yen is 0.21 (i.e., Modest 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

Average diversification

The correlation between ProShares Ultra Euro and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Euro 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 Euro. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ProShares Etf

  0.68VXX iPath Series BPairCorr
  0.69VIXM ProShares VIX MidPairCorr
  0.83UDN Invesco DB DollarPairCorr
  0.69VXZ iPath Series BPairCorr
  0.73BABX GraniteShares 175x LongPairCorr
  0.66GDXU MicroSectors Gold MinersPairCorr
  0.79XPP ProShares Ultra FTSEPairCorr
  0.68JNUG Direxion Daily JuniorPairCorr
  0.66KO Coca ColaPairCorr
  0.79VZ Verizon CommunicationsPairCorr
  0.64T ATT Inc Earnings Call TodayPairCorr

Moving against ProShares Etf

  1.0EUO ProShares UltraShort EuroPairCorr
  0.98UUP Invesco DB DollarPairCorr
  0.71YCS ProShares UltraShort YenPairCorr
  0.81AXP American ExpressPairCorr
  0.76HPQ HP IncPairCorr
  0.71HD Home DepotPairCorr
  0.57AA Alcoa CorpPairCorr
  0.5CAT CaterpillarPairCorr
  0.5WMT WalmartPairCorr
  0.43JPM JPMorgan ChasePairCorr

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   
EUO
+ 0.72
YCS
UGE
+ 0.69
YCL
LTL
+ 0.46
UGE
LTL
+ 0.32
EUO
LTL
+ 0.08
YCL
  
High negative correlations   
YCS
- 0.99
YCL
EUO
- 0.75
YCL
UGE
- 0.7
YCS
UGE
- 0.37
EUO
LTL
- 0.13
YCS

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.

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