ProShares UltraPro Correlations

Etfs . USA . 
Etf . ProShares UltraPro Russell2000
URTY Etf  USD 37.18  0.52  1.38%   
The current 90-days correlation between ProShares UltraPro and ProShares UltraPro MidCap400 is 0.96 (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

Very poor diversification

The correlation between ProShares UltraPro Russell2000 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Russell2000 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 Russell2000. 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

  0.91SSO ProShares Ultra SP500PairCorr
  0.92SPXL Direxion Daily SP500PairCorr
  0.91QLD ProShares Ultra QQQPairCorr
  0.79UPRO ProShares UltraPro SP500PairCorr
  0.89TECL Direxion Daily TechnologyPairCorr
  0.84LABU Direxion Daily SPPairCorr
  0.8GUSH Direxion Daily SPPairCorr
  0.63FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.89OIH VanEck Oil ServicesPairCorr
  0.91ARKW ARK Next GenerationPairCorr
  0.93WTMF WisdomTree ManagedPairCorr
  0.84BST BlackRock Science TechPairCorr
  0.68CAT CaterpillarPairCorr
  0.87AXP American ExpressPairCorr
  0.62DIS Walt DisneyPairCorr
  0.88BAC Bank of AmericaPairCorr

Moving against ProShares Etf

  0.45PG Procter GamblePairCorr
  0.31GDXU MicroSectors Gold MinersPairCorr
  0.62TRV The Travelers CompaniesPairCorr
  0.54MCD McDonaldsPairCorr
  0.54KO Coca Cola Aggressive PushPairCorr
  0.52JNJ Johnson JohnsonPairCorr
  0.47T ATT Inc Aggressive PushPairCorr

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   
MIDU
+ 0.94
UPRO
MIDU
+ 0.91
UMDD
UDOW
+ 0.88
UMDD
UPRO
+ 0.84
UDOW
UPRO
+ 0.81
UMDD
MIDU
+ 0.81
UDOW
  
High negative correlations   
SRTY
- 0.93
UMDD
MIDU
- 0.87
SRTY
UDOW
- 0.79
SRTY
UPRO
- 0.78
SRTY

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.

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