ProShares Ultra Correlations

UYG Etf

USD 90.94 0.85 0.93%

The current 90-days correlation between ProShares Ultra Fina and ProShares Ultra Real is 0.62 (i.e., Poor 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

Very poor diversification

The correlation between ProShares Ultra Financials and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Financials 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 Financials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with ProShares Etf

0.67	SSO	ProShares Ultra SP500	Pair Corr
0.64	SPXL	Direxion Daily SP500	Pair Corr
0.68	ARKW	ARK Next Generation	Pair Corr
0.86	EWC	iShares MSCI Canada	Pair Corr
0.69	BST	BlackRock Science Tech	Pair Corr
0.64	IRET	iREIT MarketVector	Pair Corr
0.66	AXP	American Express	Pair Corr
0.69	GE	GE Aerospace	Pair Corr
0.69	BAC	Bank of America Aggressive Push	Pair Corr

Moving against ProShares Etf

0.59

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	URE	SKF	UYM	DIG	SSO
URE		-0.67	0.59	0.2	0.07	URE
SKF	-0.67		-0.89	-0.48	-0.6	SKF
UYM	0.59	-0.89		0.51	0.59	UYM
DIG	0.2	-0.48	0.51		0.1	DIG
SSO	0.07	-0.6	0.59	0.1		SSO
	URE	SKF	UYM	DIG	SSO

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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

UYM	+ 0.59	URE
SSO	+ 0.59	UYM
DIG	+ 0.51	UYM
DIG	+ 0.2	URE
SSO	+ 0.1	DIG
SSO	+ 0.07	URE

High negative correlations

UYM	- 0.89	SKF
SKF	- 0.67	URE
SSO	- 0.6	SKF
DIG	- 0.48	SKF

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
URE	1.78	0.08	0.03	0.05	2.35	(1.67)	3.59	(3.76)	10.24
SKF	1.56	(0.18)	0.00	0.09	0.00	0.00	3.45	(3.55)	11.90
UYM	1.45	0.05	0.02	0.03	1.83	(1.51)	2.79	(2.54)	9.55
DIG	1.87	0.35	0.12	0.29	2.63	(1.81)	4.17	(4.15)	11.41
SSO	1.57	(0.10)	0.00	(0.05)	0.00	0.00	3.02	(3.43)	8.89

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