ProShares Ultra Correlations

UGL Etf

USD 48.68 0.57 1.16%

The current 90-days correlation between ProShares Ultra Gold and iShares Healthcare Providers is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra Gold and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Gold 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 Gold. 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 together with ProShares Etf

0.91	AGQ	ProShares Ultra Silver	Pair Corr
0.95	DGP	DB Gold Double	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.93	SHNY	Microsectors Gold	Pair Corr
0.89	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.7	NVBU	AllianzIM Equity Buffer15	Pair Corr
0.71	IVVB	Blackrock ETF Trust	Pair Corr
0.77	IXN	iShares Global Tech	Pair Corr
0.68	OCTW	AIM ETF Products	Pair Corr
0.83	TBLL	Invesco Short Term	Pair Corr
0.79	COAL	Exchange Traded Concepts	Pair Corr
0.85	SETM	Sprott Energy Transition	Pair Corr
0.79	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.64	WMT	Walmart	Pair Corr
0.62	AXP	American Express	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.8	IBM	International Business	Pair Corr
0.81	INTC	Intel Aggressive Push	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr

Moving against ProShares Etf

0.41	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.77	VZ	Verizon Communications Aggressive Push	Pair Corr
0.68	DIS	Walt Disney	Pair Corr
0.65	PG	Procter Gamble	Pair Corr
0.34	MCD	McDonalds Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	-0.28	-0.51	0.64	-0.68	-0.25	-0.35	-0.6	-0.42	META
MSFT	-0.01		-0.15	0.26	-0.63	0.26	0.07	0.01	0.09	-0.04	MSFT
UBER	-0.28	-0.15		0.47	-0.05	0.37	-0.09	0.74	0.31	0.63	UBER
F	-0.51	0.26	0.47		-0.57	0.79	0.38	0.46	0.66	0.67	F
T	0.64	-0.63	-0.05	-0.57		-0.76	-0.29	-0.18	-0.53	-0.31	T
A	-0.68	0.26	0.37	0.79	-0.76		0.31	0.47	0.78	0.64	A
CRM	-0.25	0.07	-0.09	0.38	-0.29	0.31		-0.02	0.2	0.36	CRM
JPM	-0.35	0.01	0.74	0.46	-0.18	0.47	-0.02		0.16	0.77	JPM
MRK	-0.6	0.09	0.31	0.66	-0.53	0.78	0.2	0.16		0.37	MRK
XOM	-0.42	-0.04	0.63	0.67	-0.31	0.64	0.36	0.77	0.37		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.79	F
MRK	+ 0.78	A
XOM	+ 0.77	JPM
JPM	+ 0.74	UBER
XOM	+ 0.67	F
MRK	+ 0.66	F

High negative correlations

A	- 0.76	T
A	- 0.68	META
T	- 0.63	MSFT
MRK	- 0.6	META
T	- 0.57	F
MRK	- 0.53	T

ProShares Ultra Competition 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
META	1.31	(0.40)	0.00	(0.19)	0.00	0.00	2.13	(2.72)	14.85
MSFT	0.79	(0.13)	0.00	(0.06)	0.00	0.00	1.86	(1.76)	5.12
UBER	1.41	0.07	0.02	0.19	1.67	(1.49)	3.62	(2.71)	8.86
F	1.33	0.13	0.10	0.19	1.51	(1.54)	3.62	(2.04)	16.35
T	0.98	(0.15)	0.00	(2.17)	0.00	0.00	1.84	(2.32)	6.47
A	1.33	0.24	0.20	0.28	0.95	(1.48)	3.82	(2.04)	10.46
CRM	1.59	(0.08)	(0.04)	0.02	2.08	(1.58)	3.59	(3.33)	8.74
JPM	0.87	(0.03)	(0.02)	0.07	1.19	(0.82)	1.69	(1.91)	4.80
MRK	1.13	0.10	0.05	0.27	0.98	(1.36)	1.80	(1.73)	9.11
XOM	0.89	0.00	(0.05)	0.11	1.17	(0.83)	1.77	(2.07)	4.70

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