ProShares Ultra Correlations

LTL Etf

USD 26.42 -0.36 -1.34%

The current 90-days correlation between ProShares Ultra and Cambria Cannabis ETF is 0.05 (i.e., Significant diversification).ProShares Ultra's correlation with commodity prices, currency pairs, or macro factors can surface hidden portfolio risks that are not visible in a simple equity-versus-equity analysis.

Correlation With Market Overview: ProShares Ultra

Average diversification

The correlation between LTL and DJI is 0.14, which Macroaxis classifies as Average diversification for the selected horizon. Used correctly, the chart helps investors judge whether adding the second position genuinely diversifies the first.

Build AI portfolio with ProShares Etf

Correlation Analysis provides context for diversified portfolio construction. Additional portfolio transparency improves capital positioning. The allocation includes a position in ProShares Ultra Telecommunications within the portfolio mix. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with ProShares Etf

0.64	QLD	ProShares Ultra QQQ	Pair Corr
0.65	MAGS	Roundhill Magnificent	Pair Corr

Moving against ProShares Etf

0.38	NRGU	Bank of Montreal	Pair Corr
0.33	GUSH	Direxion Daily SAMPP	Pair Corr
0.39	CAT	Caterpillar	Pair Corr
0.37	XOM	Exxon Mobil Corp	Pair Corr
0.36	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	UCC	UPW	DUG	OVS	SHRY	DFVE	LST	EPV	PEMX	TOKE
UCC		-0.86	0.82	-0.24	-0.67	-0.32	-0.27	0.13	-0.56	0.77	UCC
UPW	-0.86		-0.82	0.42	0.81	0.49	0.46	-0.3	0.68	-0.71	UPW
DUG	0.82	-0.82		-0.66	-0.9	-0.72	-0.65	0.54	-0.87	0.89	DUG
OVS	-0.24	0.42	-0.66		0.82	0.98	0.95	-0.89	0.87	-0.48	OVS
SHRY	-0.67	0.81	-0.9	0.82		0.87	0.82	-0.7	0.91	-0.72	SHRY
DFVE	-0.32	0.49	-0.72	0.98	0.87		0.96	-0.9	0.91	-0.53	DFVE
LST	-0.27	0.46	-0.65	0.95	0.82	0.96		-0.95	0.92	-0.48	LST
EPV	0.13	-0.3	0.54	-0.89	-0.7	-0.9	-0.95		-0.87	0.37	EPV
PEMX	-0.56	0.68	-0.87	0.87	0.91	0.91	0.92	-0.87		-0.71	PEMX
TOKE	0.77	-0.71	0.89	-0.48	-0.72	-0.53	-0.48	0.37	-0.71		TOKE
	UCC	UPW	DUG	OVS	SHRY	DFVE	LST	EPV	PEMX	TOKE

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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

DFVE	+ 0.98	OVS
LST	+ 0.96	DFVE
LST	+ 0.95	OVS
PEMX	+ 0.92	LST
PEMX	+ 0.91	SHRY
PEMX	+ 0.91	DFVE

High negative correlations

EPV	- 0.95	LST
EPV	- 0.9	DFVE
SHRY	- 0.9	DUG
EPV	- 0.89	OVS
PEMX	- 0.87	EPV
PEMX	- 0.87	DUG

ProShares Ultra Constituents Risk-Adjusted Indicators

Strong stock returns do not always mean ProShares Ultra ETF is outperforming its peers on a fundamental level. 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
UCC	1.52	-0.32	0.00	6.53	0.00	0.00	3.32	-4.33	8.66
UPW	1.44	0.25	0.16	-0.96	1.62	-1.54	2.81	-2.73	8.94
DUG	2.15	-0.78	0.00	-1.55	0.00	0.00	3.77	-5.14	12.41
OVS	0.87	-0.02	0.03	0.02	1.13	-0.97	1.59	-2.18	6.08
SHRY	0.55	0.02	0.11	-0.11	0.60	-0.61	1.24	-0.96	2.87
DFVE	0.60	-0.01	0.05	0.02	0.75	-0.70	1.14	-1.45	4.01
LST	0.77	-0.01	0.04	0.08	1.00	-0.83	1.33	-1.79	4.73
EPV	1.41	0.02	0.04	-0.20	1.48	-1.72	3.37	-2.27	7.63
PEMX	1.01	0.17	0.13	-7.54	1.46	-1.03	2.39	-2.02	7.42
TOKE	1.36	-0.26	0.00	5.09	0.00	0.00	2.20	-3.16	14.72

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