ProShares UltraPro Correlations

URTY Etf

USD 45.78 0.28 0.61%

The current 90-days correlation between ProShares UltraPro and Direxion Daily CSI is 0.48 (i.e., Very weak 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

Poor diversification

The correlation between ProShares UltraPro Russell2000 and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Russell2000 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 Russell2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with ProShares Etf

0.75	SSO	ProShares Ultra SP500	Pair Corr
0.76	SPXL	Direxion Daily SP500	Pair Corr
0.72	QLD	ProShares Ultra QQQ	Pair Corr
0.76	UPRO	ProShares UltraPro SP500	Pair Corr
0.72	TECL	Direxion Daily Technology	Pair Corr
0.72	FNGO	MicroSectors FANG Index	Pair Corr
0.73	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.73	FNGG	Direxion Daily Select	Pair Corr
0.86	BITS	Global X Blockchain	Pair Corr
0.87	SATO	Invesco Alerian Galaxy	Pair Corr
0.72	FELG	Fidelity Covington Trust	Pair Corr
0.72	IYW	iShares Technology ETF	Pair Corr
0.63	GLTR	abrdn Physical Precious	Pair Corr
0.75	XHYT	BondBloxx ETF Trust	Pair Corr
0.81	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.61	MUNC	Northern Funds	Pair Corr
0.67	SHAG	WisdomTree Yield Enhanced	Pair Corr
0.71	FEMR	Fidelity Covington Trust	Pair Corr
0.67	SGDJ	Sprott Junior Gold	Pair Corr
0.62	VGT	Vanguard Information	Pair Corr
0.73	AGMI	Themes Silver Miners	Pair Corr
0.76	TSLP	Kurv Yield Premium	Pair Corr
0.81	IBLC	iShares Blockchain and	Pair Corr
0.65	RFDA	RiverFront Dynamic	Pair Corr
0.72	MCHI	iShares MSCI China	Pair Corr

Related Correlations Analysis

	CWEB	GQRE	QVMM	GVUS	JPME	TBFG	JPUS	EWD	SMOT	EWQ
CWEB		0.4	0.64	0.42	0.6	0.4	0.69	0.42	0.31	0.24	CWEB
GQRE	0.4		0.67	0.26	0.82	0.04	0.77	0.31	0.73	0.2	GQRE
QVMM	0.64	0.67		0.54	0.91	0.35	0.84	0.51	0.73	0.16	QVMM
GVUS	0.42	0.26	0.54		0.44	0.93	0.67	0.86	0.07	0.73	GVUS
JPME	0.6	0.82	0.91	0.44		0.18	0.92	0.39	0.79	0.13	JPME
TBFG	0.4	0.04	0.35	0.93	0.18		0.47	0.85	-0.19	0.78	TBFG
JPUS	0.69	0.77	0.84	0.67	0.92	0.47		0.62	0.57	0.42	JPUS
EWD	0.42	0.31	0.51	0.86	0.39	0.85	0.62		0.2	0.84	EWD
SMOT	0.31	0.73	0.73	0.07	0.79	-0.19	0.57	0.2		-0.05	SMOT
EWQ	0.24	0.2	0.16	0.73	0.13	0.78	0.42	0.84	-0.05		EWQ
	CWEB	GQRE	QVMM	GVUS	JPME	TBFG	JPUS	EWD	SMOT	EWQ

Please upgrade your account to get full access to Macroaxis premium features

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

TBFG	+ 0.93	GVUS
JPUS	+ 0.92	JPME
JPME	+ 0.91	QVMM
EWD	+ 0.86	GVUS
EWD	+ 0.85	TBFG
JPUS	+ 0.84	QVMM

High negative correlations

SMOT	- 0.19	TBFG
EWQ	- 0.05	SMOT

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
CWEB	2.49	(0.05)	0.00	0.01	3.53	(2.60)	4.78	(4.55)	19.94
GQRE	0.50	(0.01)	(0.03)	0.02	0.65	(0.53)	1.06	(1.19)	3.67
QVMM	0.69	(0.04)	(0.04)	0.00	0.92	(0.69)	1.47	(1.16)	5.50
GVUS	0.47	0.00	0.00	0.04	0.60	(0.47)	1.04	(1.07)	3.68
JPME	0.55	(0.02)	(0.04)	0.00	0.68	(0.61)	1.22	(1.04)	4.52
TBFG	0.38	0.02	0.02	0.07	0.48	(0.38)	0.91	(0.80)	3.06
JPUS	0.46	(0.01)	(0.03)	0.02	0.54	(0.50)	0.92	(0.89)	3.16
EWD	0.70	(0.03)	(0.03)	0.00	0.87	(0.69)	1.24	(1.42)	4.27
SMOT	0.68	(0.07)	0.00	(0.04)	0.00	0.00	1.24	(1.33)	5.36
EWQ	0.73	(0.03)	(0.04)	0.00	0.91	(0.76)	1.45	(1.37)	4.21

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC