ProShares Ultra Correlations

UYM Etf  USD 23.38  0.57  2.38%   
The current 90-days correlation between ProShares Ultra Basic and ProShares Ultra Real is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Basic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very weak diversification

The correlation between ProShares Ultra Basic and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Basic 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 Basic. 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

  0.65SSO ProShares Ultra SP500PairCorr
  0.67SPXL Direxion Daily SP500PairCorr
  0.7LABU Direxion Daily SPPairCorr
  0.65UYG ProShares Ultra FinaPairCorr
  0.86HD Home DepotPairCorr
  0.77DD Dupont De NemoursPairCorr
  0.65BAC Bank of AmericaPairCorr
  0.86XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.67HPQ HP IncPairCorr
  0.7AA Alcoa CorpPairCorr
  0.69TRV The Travelers CompaniesPairCorr

Moving against ProShares Etf

  0.58WTID UBS ETRACSPairCorr
  0.43FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.52BA BoeingPairCorr
  0.49PFE Pfizer IncPairCorr

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   
UGEURE
UPWURE
UPWUXI
UXIURE
UPWUGE
UGEUXI
  
High negative correlations   
UCCUPW
UCCUGE
UCCURE

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.