ProShares Ultra Correlations

QLD Etf

USD 64.74 -0.02 -0.03%

The current 90-days correlation between ProShares Ultra QQQ and iShares MSCI EAFE is 0.57 (i.e., Very weak diversification).Correlation measures for ProShares Ultra are calculated using historical price returns over a specified window and can shift significantly across different market environments.

Market Correlation - ProShares Ultra

Modest diversification

QLD currently posts a 0.21 correlation with DJI, indicating a Modest diversification relationship for the active sample. This matters because lower overlap can improve diversification, while higher overlap leaves more of the same risk inside the portfolio.

Build AI portfolio with ProShares Etf

Your Equity Center provides context for diversified portfolio design. Broader allocation clarity strengthens diversification analysis. The allocation includes a position in ProShares Ultra QQQ inside the allocation 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 state.

Moving together with ProShares Etf

0.8	SSO	ProShares Ultra SAMPP500	Pair Corr
0.83	SPXL	Direxion Daily SAMPP500	Pair Corr
0.83	UPRO	ProShares UltraPro	Pair Corr
0.97	TECL	Direxion Daily Technology	Pair Corr
0.79	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.7	UYG	ProShares Ultra	Pair Corr
0.91	MAGS	Roundhill Magnificent	Pair Corr
0.75	SEMI	Columbia Seligman	Pair Corr
0.68	AXP	American Express	Pair Corr
0.72	DIS	Walt Disney Sell-off Trend	Pair Corr
0.78	MSFT	Microsoft	Pair Corr

Moving against ProShares Etf

0.75	NRGU	Bank of Montreal	Pair Corr
0.72	GUSH	Direxion Daily SAMPP	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.44	IGA	Voya Global Advantage	Pair Corr
0.41	ARP	Advisors Inner Circle	Pair Corr
0.38	PXMV	Invesco SAMPP MidCap	Pair Corr
0.81	VZ	Verizon Communications	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.73	KO	Coca Cola Aggressive Push	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.65	MRK	Merck Company	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.58	DD	Dupont De Nemours	Pair Corr
0.41	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	XLG	DFIC	IGV	MGV	CIBR	AMLP	AVUS	ESGD	NOBL	SCZ
XLG		-0.56	0.81	-0.62	0.84	-0.84	-0.23	-0.42	-0.62	-0.47	XLG
DFIC	-0.56		-0.9	0.97	-0.82	0.81	0.91	0.98	0.96	0.99	DFIC
IGV	0.81	-0.9		-0.93	0.95	-0.92	-0.71	-0.82	-0.92	-0.84	IGV
MGV	-0.62	0.97	-0.93		-0.85	0.84	0.9	0.94	0.98	0.95	MGV
CIBR	0.84	-0.82	0.95	-0.85		-0.91	-0.58	-0.73	-0.83	-0.74	CIBR
AMLP	-0.84	0.81	-0.92	0.84	-0.91		0.6	0.7	0.82	0.73	AMLP
AVUS	-0.23	0.91	-0.71	0.9	-0.58	0.6		0.95	0.88	0.94	AVUS
ESGD	-0.42	0.98	-0.82	0.94	-0.73	0.7	0.95		0.93	0.99	ESGD
NOBL	-0.62	0.96	-0.92	0.98	-0.83	0.82	0.88	0.93		0.94	NOBL
SCZ	-0.47	0.99	-0.84	0.95	-0.74	0.73	0.94	0.99	0.94		SCZ
	XLG	DFIC	IGV	MGV	CIBR	AMLP	AVUS	ESGD	NOBL	SCZ

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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

SCZ	+ 0.99	DFIC
SCZ	+ 0.99	ESGD
ESGD	+ 0.98	DFIC
NOBL	+ 0.98	MGV
MGV	+ 0.97	DFIC
NOBL	+ 0.96	DFIC

High negative correlations

MGV	- 0.93	IGV
NOBL	- 0.92	IGV
AMLP	- 0.92	IGV
AMLP	- 0.91	CIBR
IGV	- 0.9	DFIC
CIBR	- 0.85	MGV

ProShares Ultra Constituents Risk-Adjusted Indicators

ProShares Ultra ETF may look attractive on headline returns alone, but deeper analysis often tells a different story. 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
XLG	0.60	-0.08	0.00	-0.16	0.00	0.00	0.99	-1.40	3.49
DFIC	0.65	0.10	0.10	0.09	1.01	-0.59	1.07	-1.56	5.20
IGV	1.54	-0.35	0.00	-0.44	0.00	0.00	2.30	-4.61	8.26
MGV	0.51	0.10	0.17	0.10	0.57	-0.55	1.03	-1.13	3.27
CIBR	1.17	-0.17	0.00	-0.25	0.00	0.00	1.84	-3.05	7.47
AMLP	0.50	0.16	0.33	19.39	0.34	-0.59	1.23	-0.82	2.89
AVUS	0.59	0.03	0.05	-0.01	0.80	-0.58	0.98	-1.53	3.66
ESGD	0.69	0.06	0.06	0.03	1.07	-0.64	1.32	-1.60	5.57
NOBL	0.58	0.09	0.16	0.11	0.59	-0.63	1.24	-1.07	2.84
SCZ	0.65	0.06	0.07	0.05	1.04	-0.60	1.21	-1.68	5.10

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