ProShares Ultra Correlations

XPP Etf

USD 25.71 0.94 3.53%

The current 90-days correlation between ProShares Ultra FTSE and ProShares Ultra MSCI is 0.82 (i.e., Very 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra FTSE and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra FTSE and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in ProShares Ultra FTSE. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with ProShares Etf

0.85	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.78	T	ATT Inc Earnings Call Today	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.66	TRV	The Travelers Companies	Pair Corr
0.63	IBM	International Business	Pair Corr
0.76	MCD	McDonalds	Pair Corr
0.81	KO	Coca Cola	Pair Corr

Moving against ProShares Etf

0.66	LABU	Direxion Daily SP	Pair Corr
0.65	GUSH	Direxion Daily SP	Pair Corr
0.64	OIH	VanEck Oil Services	Pair Corr
0.59	WTMF	WisdomTree Managed	Pair Corr
0.56	TECL	Direxion Daily Technology	Pair Corr
0.55	SSO	ProShares Ultra SP500	Pair Corr
0.48	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.47	SPXL	Direxion Daily SP500	Pair Corr
0.47	QLD	ProShares Ultra QQQ	Pair Corr
0.47	UPRO	ProShares UltraPro SP500	Pair Corr
0.44	ARKW	ARK Next Generation	Pair Corr
0.43	HUM	Humana Inc	Pair Corr
0.42	BST	BlackRock Science Tech	Pair Corr
0.63	AXP	American Express	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.58	BAC	Bank of America	Pair Corr
0.56	MSFT	Microsoft	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.49	DIS	Walt Disney	Pair Corr
0.43	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		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	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

ProShares Ultra Competition 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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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