ProShares Ultra Correlations

UCC Etf

USD 45.50 1.23 2.78%

The current 90-days correlation between ProShares Ultra Consumer and ProShares Ultra SP500 is 0.95 (i.e., Almost no diversification). The correlation of ProShares Ultra 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.

ProShares Ultra Correlation With Market

Almost no diversification

The correlation between ProShares Ultra Consumer and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Consumer 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 Ultra Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ProShares Etf

0.96	SSO	ProShares Ultra SP500	Pair Corr
0.96	SPXL	Direxion Daily SP500	Pair Corr
0.96	QLD	ProShares Ultra QQQ	Pair Corr
0.96	UPRO	ProShares UltraPro SP500	Pair Corr
0.93	TECL	Direxion Daily Technology	Pair Corr
0.67	GUSH	Direxion Daily SP	Pair Corr
0.94	UYG	ProShares Ultra Fina	Pair Corr
0.92	SIXD	AIM ETF Products	Pair Corr
0.66	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.92	CEFD	ETRACS Monthly Pay	Pair Corr
0.71	DD	Dupont De Nemours	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.92	GE	GE Aerospace	Pair Corr
0.95	CAT	Caterpillar	Pair Corr
0.95	AXP	American Express	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.62	PFE	Pfizer Inc	Pair Corr
0.93	MMM	3M Company	Pair Corr
0.93	DIS	Walt Disney	Pair Corr
0.94	BAC	Bank of America Aggressive Push	Pair Corr

Moving against ProShares Etf

0.91	VXX	iPath Series B	Pair Corr
0.91	VIXY	ProShares VIX Short Sell-off Trend	Pair Corr
0.33	YCL	ProShares Ultra Yen	Pair Corr
0.32	FNGU	BANK OF MONTREAL Symbol Change	Pair Corr

Related Correlations Analysis

	SSO	SPXL	QLD	NRGU	UPRO	TECL	LABU	GUSH	UYG
SSO		1.0	0.99	0.45	1.0	0.99	0.51	0.7	0.94	SSO
SPXL	1.0		0.98	0.51	1.0	0.98	0.54	0.74	0.95	SPXL
QLD	0.99	0.98		0.35	0.98	0.99	0.43	0.62	0.9	QLD
NRGU	0.45	0.51	0.35		0.51	0.39	0.69	0.94	0.56	NRGU
UPRO	1.0	1.0	0.98	0.51		0.98	0.54	0.74	0.95	UPRO
TECL	0.99	0.98	0.99	0.39	0.98		0.44	0.66	0.88	TECL
LABU	0.51	0.54	0.43	0.69	0.54	0.44		0.67	0.57	LABU
GUSH	0.7	0.74	0.62	0.94	0.74	0.66	0.67		0.74	GUSH
UYG	0.94	0.95	0.9	0.56	0.95	0.88	0.57	0.74		UYG
	SSO	SPXL	QLD	NRGU	UPRO	TECL	LABU	GUSH	UYG

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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
SSO	2.17	0.11	0.04	0.09	3.39	(2.04)	4.15	(4.74)	25.75
SPXL	3.25	0.15	0.05	0.09	5.08	(3.12)	6.19	(7.12)	37.76
QLD	2.54	0.22	0.07	0.13	3.82	(2.54)	5.10	(6.01)	31.69
NRGU	5.11	(0.42)	0.00	(0.06)	0.00	0.00	8.63	(9.64)	52.38
UPRO	3.24	0.16	0.05	0.09	5.04	(3.12)	6.20	(7.10)	38.41
TECL	4.36	0.47	0.09	0.16	6.40	(4.42)	8.85	(10.32)	52.34
LABU	5.14	(0.33)	0.00	(0.06)	0.00	0.00	9.39	(12.98)	41.44
GUSH	3.80	(0.18)	0.00	(0.02)	0.00	0.00	6.46	(7.78)	39.69
UYG	2.12	0.00	0.01	0.04	3.71	(2.22)	4.04	(4.37)	20.53

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