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

0.61	SSO	ProShares Ultra SP500 Sell-off Trend	Pair Corr
0.89	UYG	ProShares Ultra Fina	Pair Corr
0.65	VTI	Vanguard Total Stock	Pair Corr
0.61	SPY	SPDR SP 500	Pair Corr
0.62	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.83	VTV	Vanguard Value Index	Pair Corr
0.8	VO	Vanguard Mid Cap	Pair Corr
0.69	WMT	Walmart Aggressive Push	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr

Moving against ProShares Etf

0.57

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	URE	UXI	UGE	UPW	UCC
URE		0.22	0.82	0.47	-0.23	URE
UXI	0.22		-0.01	0.46	0.73	UXI
UGE	0.82	-0.01		0.37	-0.26	UGE
UPW	0.47	0.46	0.37		0.01	UPW
UCC	-0.23	0.73	-0.26	0.01		UCC
	URE	UXI	UGE	UPW	UCC

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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

UGE	+ 0.82	URE
UCC	+ 0.73	UXI
UPW	+ 0.47	URE
UPW	+ 0.46	UXI
UPW	+ 0.37	UGE
UXI	+ 0.22	URE

High negative correlations

UCC	- 0.26	UGE
UCC	- 0.23	URE
UGE	- 0.01	UXI

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	1.73	0.14	0.05	0.04	2.35	(1.64)	3.59	(3.76)	10.24
UXI	1.57	0.06	0.00	(0.03)	0.00	0.00	2.68	(3.20)	8.50
UGE	1.37	0.00	0.00	(0.10)	0.00	0.00	2.52	(3.18)	10.31
UPW	1.61	0.11	0.07	0.30	2.01	(1.63)	3.84	(4.18)	9.92
UCC	2.03	(0.38)	0.00	(0.25)	0.00	0.00	3.97	(4.92)	12.69

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