ProShares Ultra Correlations

EET Etf

USD 84.85 4.22 5.23%

The current 90-days correlation between ProShares Ultra MSCI and ProShares UltraPro MidCap400 is 0.67 (i.e., 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 MSCI 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 MSCI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Ultra MSCI. 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

0.68

SSO

ProShares Ultra SP500

Pair Corr

Moving against ProShares Etf

0.31

JNJ

Johnson Johnson

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.45	-0.54	0.38	-0.39	0.24	-0.23	-0.42	-0.58	META
MSFT	0.67		0.85	-0.54	0.42	-0.07	-0.02	-0.42	-0.81	-0.64	MSFT
UBER	0.45	0.85		-0.58	0.52	0.09	-0.25	-0.47	-0.85	-0.67	UBER
F	-0.54	-0.54	-0.58		-0.64	0.28	0.34	0.54	0.63	0.77	F
T	0.38	0.42	0.52	-0.64		0.03	-0.63	-0.47	-0.38	-0.58	T
A	-0.39	-0.07	0.09	0.28	0.03		-0.42	-0.34	0.02	0.04	A
CRM	0.24	-0.02	-0.25	0.34	-0.63	-0.42		0.49	0.2	0.3	CRM
JPM	-0.23	-0.42	-0.47	0.54	-0.47	-0.34	0.49		0.57	0.56	JPM
MRK	-0.42	-0.81	-0.85	0.63	-0.38	0.02	0.2	0.57		0.76	MRK
XOM	-0.58	-0.64	-0.67	0.77	-0.58	0.04	0.3	0.56	0.76		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

UBER	+ 0.85	MSFT
XOM	+ 0.77	F
XOM	+ 0.76	MRK
MSFT	+ 0.67	META
MRK	+ 0.63	F
MRK	+ 0.57	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.81	MSFT
XOM	- 0.67	UBER
T	- 0.64	F
XOM	- 0.64	MSFT
CRM	- 0.63	T

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	1.39	(0.22)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.17)	0.00	(0.25)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.45	(0.30)	0.00	(0.23)	0.00	0.00	2.60	(3.82)	10.51
F	1.48	0.12	0.08	0.14	1.67	(1.63)	3.38	(2.63)	16.30
T	0.96	(0.21)	0.00	(0.86)	0.00	0.00	1.61	(2.18)	5.75
A	1.17	0.05	0.04	0.10	1.25	(1.28)	2.12	(2.21)	11.03
CRM	1.51	0.06	0.03	0.13	1.97	(1.51)	3.66	(2.92)	9.91
JPM	1.08	(0.02)	0.00	0.04	1.41	(1.11)	2.00	(1.91)	7.02
MRK	1.32	0.33	0.25	0.46	1.03	(1.70)	3.84	(1.98)	11.45
XOM	0.91	0.12	0.08	0.52	0.82	(1.01)	1.96	(1.41)	4.99

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