ProShares Ultra Correlations

UVXY Etf

USD 19.08 0.21 1.11%

The current 90-days correlation between ProShares Ultra VIX and ProShares UltraPro Short is 0.01 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Ultra VIX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with ProShares Etf

0.94	VXX	iPath Series B Low Volatility	Pair Corr
0.94	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.85	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.63	VIIX	VIIX	Pair Corr
0.85	VXZ	iPath Series B Low Volatility	Pair Corr
0.76	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.72	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against ProShares Etf

0.83	BITX	Volatility Shares Trust	Pair Corr
0.77	WEBL	Direxion Daily Dow	Pair Corr
0.74	FNGU	MicroSectors FANG Index	Pair Corr
0.73	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	EUO	ProShares UltraShort Euro	Pair Corr
0.61	UUP	Invesco DB Dollar	Pair Corr
0.59	CEFD	ETRACS Monthly Pay	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.73	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.71	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.69	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr
0.6	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.38	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.42	-0.28	-0.07	0.51	0.28	0.65	0.43	-0.4	0.02	META
MSFT	0.42		-0.49	0.04	0.36	0.16	0.29	0.17	0.1	-0.72	MSFT
UBER	-0.28	-0.49		0.05	-0.7	0.11	-0.59	-0.46	0.4	0.47	UBER
F	-0.07	0.04	0.05		0.25	-0.54	0.32	0.51	-0.36	0.25	F
T	0.51	0.36	-0.7	0.25		-0.29	0.88	0.85	-0.72	-0.17	T
A	0.28	0.16	0.11	-0.54	-0.29		-0.26	-0.46	0.57	-0.08	A
CRM	0.65	0.29	-0.59	0.32	0.88	-0.26		0.92	-0.83	0.03	CRM
JPM	0.43	0.17	-0.46	0.51	0.85	-0.46	0.92		-0.87	0.11	JPM
MRK	-0.4	0.1	0.4	-0.36	-0.72	0.57	-0.83	-0.87		-0.25	MRK
XOM	0.02	-0.72	0.47	0.25	-0.17	-0.08	0.03	0.11	-0.25		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	+ 0.92	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
T	+ 0.51	META

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.83	CRM
MRK	- 0.72	T
XOM	- 0.72	MSFT
T	- 0.7	UBER
CRM	- 0.59	UBER

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
META	1.15	0.21	0.11	0.55	1.25	(1.33)	3.22	(1.87)	8.02
MSFT	0.84	0.02	(0.01)	0.12	1.45	(0.79)	1.83	(1.57)	8.14
UBER	1.83	(0.28)	0.00	(0.13)	0.00	0.00	2.69	(5.35)	20.41
F	1.39	0.01	(0.03)	0.13	2.12	(1.42)	2.53	(2.79)	11.21
T	0.97	0.15	0.06	2.52	1.02	(1.08)	2.36	(1.99)	6.74
A	1.22	0.00	(0.04)	0.09	1.46	(1.30)	2.71	(2.41)	9.02
CRM	1.47	0.40	0.29	0.38	1.04	(1.72)	3.59	(1.93)	13.87
JPM	1.01	0.08	0.13	0.13	0.94	(1.19)	1.73	(1.42)	15.87
MRK	0.96	(0.20)	0.00	(0.82)	0.00	0.00	2.00	(2.17)	5.18
XOM	0.89	(0.02)	(0.07)	0.02	1.18	(0.97)	1.83	(1.96)	6.06

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ProShares Ultra Correlations

Moving together with ProShares Etf

Moving against ProShares Etf

Related Correlations Analysis

Correlation Matchups

ProShares Ultra Constituents Risk-Adjusted Indicators

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