ProShares Ultra Correlations

UYM Etf  USD 23.29  0.58  2.43%   
The current 90-days correlation between ProShares Ultra Basic and ProShares Ultra Real is -0.25 (i.e., Very good 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

Good diversification

The correlation between ProShares Ultra Basic and DJI is -0.06 (i.e., Good 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

  0.61SSO ProShares Ultra SP500 Sell-off TrendPairCorr
  0.89UYG ProShares Ultra FinaPairCorr
  0.65VTI Vanguard Total StockPairCorr
  0.61SPY SPDR SP 500PairCorr
  0.62IVV iShares Core SP Sell-off TrendPairCorr
  0.83VTV Vanguard Value IndexPairCorr
  0.8VO Vanguard Mid CapPairCorr
  0.69WMT Walmart Aggressive PushPairCorr
  0.85JPM JPMorgan ChasePairCorr

Moving against ProShares Etf

  0.57MRK Merck CompanyPairCorr

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
UCCUXI
UPWURE
UPWUXI
UPWUGE
UXIURE
  
High negative correlations   
UCCUGE
UCCURE
UGEUXI

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.