Proshares Ultra Bloomberg Etf Market Value
| UCO Etf | USD 25.53 0.03 0.12% |
| Symbol | ProShares |
The market value of ProShares Ultra Bloomberg is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Ultra's value that differs from its market value or its book value, called intrinsic value, which is ProShares Ultra's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares Ultra's market value can be influenced by many factors that don't directly affect ProShares Ultra's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares Ultra's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Ultra is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Ultra's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
ProShares Ultra 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to ProShares Ultra's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of ProShares Ultra.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in ProShares Ultra on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Ultra Bloomberg or generate 0.0% return on investment in ProShares Ultra over 30 days. ProShares Ultra is related to or competes with ProShares UltraShort, United States, Direxion Daily, Direxion Daily, and Direxion Daily. The fund seeks to meet its investment objective by investing, under normal market conditions, in any one of, or combinat... More
ProShares Ultra Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure ProShares Ultra's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess ProShares Ultra Bloomberg upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 16.55 | |||
| Value At Risk | (6.18) | |||
| Potential Upside | 5.25 |
ProShares Ultra Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Ultra's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Ultra's standard deviation. In reality, there are many statistical measures that can use ProShares Ultra historical prices to predict the future ProShares Ultra's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.79) | |||
| Treynor Ratio | 1.16 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Ultra's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
ProShares Ultra Bloomberg Backtested Returns
ProShares Ultra Bloomberg maintains Sharpe Ratio (i.e., Efficiency) of -0.0274, which implies the entity had a -0.0274% return per unit of risk over the last 3 months. ProShares Ultra Bloomberg exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check ProShares Ultra's Coefficient Of Variation of (1,756), risk adjusted performance of (0.04), and Variance of 13.18 to confirm the risk estimate we provide. The etf holds a Beta of -0.19, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning ProShares Ultra are expected to decrease at a much lower rate. During the bear market, ProShares Ultra is likely to outperform the market.
Auto-correlation | 0.66 |
Good predictability
ProShares Ultra Bloomberg has good predictability. Overlapping area represents the amount of predictability between ProShares Ultra time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of ProShares Ultra Bloomberg price movement. The serial correlation of 0.66 indicates that around 66.0% of current ProShares Ultra price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | -0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 0.45 |
ProShares Ultra Bloomberg lagged returns against current returns
Autocorrelation, which is ProShares Ultra etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting ProShares Ultra's etf expected returns. We can calculate the autocorrelation of ProShares Ultra returns to help us make a trade decision. For example, suppose you find that ProShares Ultra has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
ProShares Ultra regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If ProShares Ultra etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Ultra etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Ultra etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Ultra Lagged Returns
When evaluating ProShares Ultra's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Ultra etf have on its future price. ProShares Ultra autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, ProShares Ultra autocorrelation shows the relationship between ProShares Ultra etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Ultra Bloomberg.
Regressed Prices |
| Timeline |
Pair Trading with ProShares Ultra
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ProShares Ultra position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ProShares Ultra will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to ProShares Ultra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Ultra when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares Ultra - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares Ultra Bloomberg to buy it.
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 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 Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for ProShares Ultra can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out ProShares Ultra Correlation, ProShares Ultra Volatility and ProShares Ultra Alpha and Beta module to complement your research on ProShares Ultra. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
ProShares Ultra technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.