ProShares UltraPro Correlations

TQQQ Etf

USD 103.99 1.94 1.90%

The current 90-days correlation between ProShares UltraPro QQQ and Consumer Discretionary Select is 0.72 (i.e., Poor 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 QQQ and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro QQQ 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 QQQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with ProShares Etf

0.97	SSO	ProShares Ultra SP500	Pair Corr
0.97	SPXL	Direxion Daily SP500	Pair Corr
1.0	QLD	ProShares Ultra QQQ	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.98	TECL	Direxion Daily Technology	Pair Corr
0.86	LABU	Direxion Daily SP	Pair Corr
0.93	USD	ProShares Ultra Semi	Pair Corr
0.98	BULZ	MicroSectors Solactive	Pair Corr
0.87	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.93	FNGO	MicroSectors FANG Index	Pair Corr
0.9	GDXU	MicroSectors Gold Miners	Pair Corr
0.9	JNUG	Direxion Daily Junior	Pair Corr
0.9	NUGT	Direxion Daily Gold	Pair Corr
0.93	FNGG	Direxion Daily Select	Pair Corr
0.89	GDMN	WisdomTree Efficient Gold	Pair Corr
0.73	IBM	International Business Earnings Call This Week	Pair Corr
0.7	AXP	American Express	Pair Corr
0.83	INTC	Intel	Pair Corr
0.86	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.76	CAT	Caterpillar	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr

Moving against ProShares Etf

0.72	DIS	Walt Disney	Pair Corr
0.66	KO	Coca Cola Earnings Call This Week	Pair Corr
0.42	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.34	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	XLY	VITNX	OEF	QLD	SPYV	XLC	SPDW	VTCIX	MGK	IUSG
XLY		0.9	0.88	0.79	0.88	0.95	0.87	0.9	0.83	0.86	XLY
VITNX	0.9		0.99	0.96	0.95	0.92	0.95	1.0	0.98	0.98	VITNX
OEF	0.88	0.99		0.97	0.93	0.91	0.94	1.0	0.99	0.99	OEF
QLD	0.79	0.96	0.97		0.88	0.83	0.89	0.96	0.99	0.98	QLD
SPYV	0.88	0.95	0.93	0.88		0.85	0.95	0.95	0.9	0.89	SPYV
XLC	0.95	0.92	0.91	0.83	0.85		0.87	0.92	0.87	0.91	XLC
SPDW	0.87	0.95	0.94	0.89	0.95	0.87		0.95	0.91	0.91	SPDW
VTCIX	0.9	1.0	1.0	0.96	0.95	0.92	0.95		0.98	0.99	VTCIX
MGK	0.83	0.98	0.99	0.99	0.9	0.87	0.91	0.98		0.99	MGK
IUSG	0.86	0.98	0.99	0.98	0.89	0.91	0.91	0.99	0.99		IUSG
	XLY	VITNX	OEF	QLD	SPYV	XLC	SPDW	VTCIX	MGK	IUSG

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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
XLY	0.78	0.09	0.02	(0.28)	0.95	(0.83)	1.94	(1.65)	5.79
VITNX	0.49	0.09	0.05	(0.37)	0.58	(0.56)	1.27	(0.64)	4.42
OEF	0.51	0.11	0.07	(0.60)	0.63	(0.57)	1.07	(0.85)	4.30
QLD	1.23	0.21	0.07	(0.39)	1.77	(1.27)	2.54	(2.40)	10.69
SPYV	0.43	0.07	0.03	(0.48)	0.50	(0.50)	1.04	(0.72)	3.64
XLC	0.60	0.11	0.07	(0.72)	0.57	(0.66)	1.54	(1.07)	3.76
SPDW	0.57	0.11	0.07	(0.45)	0.58	(0.63)	1.19	(0.99)	4.23
VTCIX	0.48	0.09	0.05	(0.36)	0.57	(0.51)	1.19	(0.64)	4.29
MGK	0.66	0.11	0.05	(0.40)	0.87	(0.69)	1.53	(1.20)	5.29
IUSG	0.62	0.11	0.05	(0.33)	0.76	(0.66)	1.29	(1.19)	5.05

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