ProShares Ultra Correlations

UWM Etf

USD 47.97 0.95 2.02%

The current 90-days correlation between ProShares Ultra Russ and Oppenheimer Russell 2000 is 0.97 (i.e., Almost no 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 Russell2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra Russell2000 and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra 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 Ultra 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 producer price index.

Moving together with ProShares Etf

0.71	SSO	ProShares Ultra SP500	Pair Corr
0.72	SPXL	Direxion Daily SP500	Pair Corr
0.72	UPRO	ProShares UltraPro SP500	Pair Corr
0.71	UYG	ProShares Ultra Fina	Pair Corr
0.76	ITDD	iShares Trust	Pair Corr
0.69	CPST	Calamos ETF Trust	Pair Corr
0.97	ITWO	Proshares Russell 2000	Pair Corr

Moving against ProShares Etf

0.32	T	ATT Inc	Pair Corr
0.34	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	OMFS	IWMI	KJAN	XSLV	BINT	EQIN	OAIM	FPAG	LCTD	HOLA
OMFS		0.96	0.96	0.75	0.73	0.86	0.8	0.86	0.78	0.74	OMFS
IWMI	0.96		1.0	0.76	0.83	0.9	0.83	0.94	0.84	0.85	IWMI
KJAN	0.96	1.0		0.76	0.81	0.9	0.83	0.92	0.83	0.85	KJAN
XSLV	0.75	0.76	0.76		0.6	0.86	0.7	0.81	0.7	0.75	XSLV
BINT	0.73	0.83	0.81	0.6		0.87	0.9	0.92	0.95	0.91	BINT
EQIN	0.86	0.9	0.9	0.86	0.87		0.92	0.95	0.91	0.91	EQIN
OAIM	0.8	0.83	0.83	0.7	0.9	0.92		0.9	0.95	0.91	OAIM
FPAG	0.86	0.94	0.92	0.81	0.92	0.95	0.9		0.91	0.92	FPAG
LCTD	0.78	0.84	0.83	0.7	0.95	0.91	0.95	0.91		0.94	LCTD
HOLA	0.74	0.85	0.85	0.75	0.91	0.91	0.91	0.92	0.94		HOLA
	OMFS	IWMI	KJAN	XSLV	BINT	EQIN	OAIM	FPAG	LCTD	HOLA

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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
OMFS	0.89	(0.04)	(0.02)	0.02	1.07	(0.98)	2.11	(1.92)	4.61
IWMI	0.77	0.00	0.01	0.05	0.95	(0.79)	1.73	(1.70)	4.64
KJAN	0.66	(0.01)	(0.02)	0.04	0.81	(0.67)	1.63	(1.21)	4.02
XSLV	0.61	(0.01)	(0.04)	0.02	0.75	(0.61)	1.27	(1.25)	3.12
BINT	0.56	0.02	0.02	0.08	0.77	(0.56)	0.95	(1.35)	3.11
EQIN	0.51	(0.01)	(0.04)	0.03	0.56	(0.62)	1.19	(0.98)	2.64
OAIM	0.55	0.02	0.01	0.09	0.72	(0.54)	0.98	(1.13)	2.97
FPAG	0.66	0.01	0.02	0.06	0.78	(0.68)	1.45	(1.45)	3.22
LCTD	0.57	0.03	0.02	0.08	0.74	(0.56)	1.09	(1.22)	2.72
HOLA	0.41	0.04	0.02	0.12	0.45	(0.42)	0.79	(0.80)	1.70

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