ProShares Ultra Correlations

EFO Etf

USD 58.96 0.48 0.81%

The current 90-days correlation between ProShares Ultra MSCI and ProShares Ultra MSCI is 0.68 (i.e., Poor 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 MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Average diversification

The correlation between ProShares Ultra MSCI and DJI is 0.12 (i.e., Average 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 price.

Moving together with ProShares Etf

0.7	SSO	ProShares Ultra SP500	Pair Corr
0.72	SPXL	Direxion Daily SP500	Pair Corr
0.62	QLD	ProShares Ultra QQQ	Pair Corr
0.75	UPRO	ProShares UltraPro SP500	Pair Corr
0.67	LABU	Direxion Daily SP	Pair Corr
0.69	UYG	ProShares Ultra Fina	Pair Corr
0.73	ITWO	Proshares Russell 2000	Pair Corr
0.76	ITDD	iShares Trust	Pair Corr
0.71	BAC	Bank of America	Pair Corr
0.67	T	ATT Inc	Pair Corr
0.72	CVX	Chevron Corp	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.7	PFE	Pfizer Inc	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr
0.73	VZ	Verizon Communications	Pair Corr
0.8	MRK	Merck Company	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr

Moving against ProShares Etf

0.67

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	EET	EZJ	UPV	LTL	XPP
EET		0.71	0.65	0.81	0.9	EET
EZJ	0.71		0.53	0.83	0.68	EZJ
UPV	0.65	0.53		0.56	0.54	UPV
LTL	0.81	0.83	0.56		0.72	LTL
XPP	0.9	0.68	0.54	0.72		XPP
	EET	EZJ	UPV	LTL	XPP

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
EET	1.21	0.25	0.13	0.86	1.19	(1.39)	2.58	(2.53)	7.96
EZJ	1.72	0.07	0.08	0.15	1.68	(1.97)	3.85	(2.76)	13.04
UPV	1.21	0.10	(0.01)	(0.73)	1.65	(1.17)	2.11	(2.80)	7.44
LTL	1.32	0.18	0.17	0.23	1.14	(1.56)	3.34	(2.17)	6.14
XPP	1.81	0.20	0.08	0.43	1.88	(2.03)	3.93	(3.18)	11.02

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