ProShares Ultra Correlations

UGE Etf

USD 17.31 0.15 0.86%

The current 90-days correlation between ProShares Ultra Consumer and ProShares Ultra MSCI is 0.01 (i.e., Significant 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

Average diversification

The correlation between ProShares Ultra Consumer and DJI is 0.18 (i.e., Average 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 rate.

Moving against ProShares Etf

0.39	OIH	VanEck Oil Services	Pair Corr
0.34	TECL	Direxion Daily Technology	Pair Corr
0.48	IBM	International Business	Pair Corr
0.39	CAT	Caterpillar	Pair Corr
0.35	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	EZJ	DAT	PWER	ESMV	MNRS	MCDS	MAPP	ESIX	SCDS	DIVG
EZJ		0.05	0.46	0.18	-0.01	0.6	0.83	0.34	0.62	0.31	EZJ
DAT	0.05		-0.29	0.36	0.67	0.21	-0.06	0.16	0.06	0.12	DAT
PWER	0.46	-0.29		0.25	-0.17	0.64	0.77	0.4	0.67	0.61	PWER
ESMV	0.18	0.36	0.25		0.2	0.5	0.32	0.4	0.27	0.68	ESMV
MNRS	-0.01	0.67	-0.17	0.2		-0.08	0.04	-0.19	-0.12	-0.07	MNRS
MCDS	0.6	0.21	0.64	0.5	-0.08		0.69	0.82	0.93	0.84	MCDS
MAPP	0.83	-0.06	0.77	0.32	0.04	0.69		0.42	0.74	0.52	MAPP
ESIX	0.34	0.16	0.4	0.4	-0.19	0.82	0.42		0.8	0.75	ESIX
SCDS	0.62	0.06	0.67	0.27	-0.12	0.93	0.74	0.8		0.69	SCDS
DIVG	0.31	0.12	0.61	0.68	-0.07	0.84	0.52	0.75	0.69		DIVG
	EZJ	DAT	PWER	ESMV	MNRS	MCDS	MAPP	ESIX	SCDS	DIVG

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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

SCDS	+ 0.93	MCDS
DIVG	+ 0.84	MCDS
MAPP	+ 0.83	EZJ
ESIX	+ 0.82	MCDS
SCDS	+ 0.8	ESIX
MAPP	+ 0.77	PWER

High negative correlations

PWER	- 0.29	DAT
ESIX	- 0.19	MNRS
MNRS	- 0.17	PWER
SCDS	- 0.12	MNRS
MCDS	- 0.08	MNRS
DIVG	- 0.07	MNRS

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
EZJ	1.52	(0.09)	(0.01)	0.02	2.37	(1.48)	3.85	(3.26)	11.98
DAT	1.18	(0.15)	0.00	(0.08)	0.00	0.00	2.11	(2.77)	5.82
PWER	0.97	0.05	0.04	0.10	1.28	(0.94)	2.11	(2.14)	6.01
ESMV	0.50	(0.02)	(0.06)	0.01	0.86	(0.49)	0.98	(0.86)	7.02
MNRS	4.07	(0.42)	0.00	(0.09)	0.00	0.00	7.90	(8.62)	23.19
MCDS	0.63	(0.04)	(0.05)	0.02	0.85	(0.60)	1.34	(1.28)	3.52
MAPP	0.40	(0.02)	(0.07)	0.04	0.54	(0.40)	0.77	(0.83)	2.43
ESIX	0.93	(0.02)	(0.03)	0.04	1.23	(0.99)	2.10	(1.71)	10.25
SCDS	0.89	(0.04)	(0.01)	0.03	1.08	(0.94)	2.31	(1.79)	5.16
DIVG	0.53	0.00	(0.03)	0.06	0.65	(0.56)	1.06	(1.17)	2.82

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