ProShares UltraPro Correlations

SPXU Etf

USD 49.30 0.35 0.70%

The current 90-days correlation between ProShares UltraPro Short and ProShares Short QQQ is 0.96 (i.e., Almost no diversification). The correlation of ProShares UltraPro 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 UltraPro Correlation With Market

Good diversification

The correlation between ProShares UltraPro Short and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Short and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraPro Short. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with ProShares Etf

0.98	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.97	PSQ	ProShares Short QQQ	Pair Corr
0.87	SPXS	Direxion Daily SP	Pair Corr
0.74	QID	ProShares UltraShort QQQ	Pair Corr
0.98	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr

Moving against ProShares Etf

0.78	VTI	Vanguard Total Stock	Pair Corr
0.78	VUG	Vanguard Growth Index	Pair Corr
0.68	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.68	SUSL	iShares ESG MSCI	Pair Corr
0.66	SPY	SPDR SP 500	Pair Corr
0.66	IVV	iShares Core SP	Pair Corr
0.59	VTV	Vanguard Value Index	Pair Corr
0.53	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.35	BND	Vanguard Total Bond	Pair Corr
0.82	IBM	International Business	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.74	BAC	Bank of America	Pair Corr
0.7	AXP	American Express	Pair Corr
0.64	MMM	3M Company	Pair Corr
0.57	DD	Dupont De Nemours	Pair Corr
0.55	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.47	KO	Coca Cola	Pair Corr
0.46	MRK	Merck Company	Pair Corr
0.43	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.39	PFE	Pfizer Inc	Pair Corr
0.32	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	PSQ	SDS	URTY	JNUG	NAIL	DDM	UVIX	CSM	PPH	RPAR
PSQ		0.65	-0.58	0.05	0.26	0.0	0.61	-0.59	-0.22	-0.51	PSQ
SDS	0.65		-0.47	-0.1	0.16	0.0	0.54	-0.96	-0.41	-0.66	SDS
URTY	-0.58	-0.47		0.33	0.35	0.0	-0.42	0.33	-0.22	0.3	URTY
JNUG	0.05	-0.1	0.33		-0.06	0.0	-0.05	0.15	0.29	0.28	JNUG
NAIL	0.26	0.16	0.35	-0.06		0.0	0.0	-0.33	-0.66	-0.46	NAIL
DDM	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	DDM
UVIX	0.61	0.54	-0.42	-0.05	0.0	0.0		-0.55	-0.25	-0.14	UVIX
CSM	-0.59	-0.96	0.33	0.15	-0.33	0.0	-0.55		0.61	0.68	CSM
PPH	-0.22	-0.41	-0.22	0.29	-0.66	0.0	-0.25	0.61		0.51	PPH
RPAR	-0.51	-0.66	0.3	0.28	-0.46	0.0	-0.14	0.68	0.51		RPAR
	PSQ	SDS	URTY	JNUG	NAIL	DDM	UVIX	CSM	PPH	RPAR

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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

RPAR	+ 0.68	CSM
SDS	+ 0.65	PSQ
UVIX	+ 0.61	PSQ
PPH	+ 0.61	CSM
UVIX	+ 0.54	SDS
RPAR	+ 0.51	PPH

High negative correlations

CSM	- 0.96	SDS
PPH	- 0.66	NAIL
RPAR	- 0.66	SDS
CSM	- 0.59	PSQ
URTY	- 0.58	PSQ
CSM	- 0.55	UVIX

ProShares UltraPro Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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
PSQ	0.76	(0.10)	0.00	1.83	0.00	0.00	2.06	(1.78)	6.15
SDS	1.10	0.04	0.00	0.07	0.00	0.00	2.39	(2.28)	8.58
URTY	2.90	0.27	0.06	0.66	3.64	(2.91)	6.55	(6.01)	16.72
JNUG	4.52	0.61	0.09	0.64	6.02	(4.63)	9.97	(9.04)	31.48
NAIL	3.30	(0.71)	0.00	(0.25)	0.00	0.00	9.62	(8.05)	21.58
DDM	1.08	(0.01)	0.05	0.09	1.29	(1.09)	2.41	(2.14)	5.82
UVIX	5.02	(0.21)	0.00	0.48	0.00	0.00	13.62	(14.19)	41.93
CSM	0.59	(0.01)	(0.02)	0.09	0.84	(0.56)	1.20	(1.38)	3.59
PPH	0.79	0.12	0.12	0.26	0.48	(0.99)	2.83	(1.21)	6.20
RPAR	0.37	0.01	(0.11)	0.12	0.34	(0.40)	0.80	(0.65)	2.03

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