ProShares Ultra Correlations

UYM Etf

USD 25.79 -0.96 -3.59%

The current 90-days correlation between ProShares Ultra Basic and Fidelity Covington Trust is 0.64 (i.e., Poor 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.

ProShares Ultra Correlation With Broad Market

Very weak diversification

The correlation between UYM and DJI is 0.45, which Macroaxis classifies as Very weak diversification for the selected horizon. The cleaner interpretation is to review correlation beside volatility, expected return, and the role each holding plays in the portfolio.

Build portfolio with ProShares Etf

World Market Map provides a view into diversified allocation design. Such insight adds context to allocation decisions within a diversified portfolio. Diversification analysis considers the interaction of positions within a portfolio. A position in ProShares Ultra Basic is part of the allocation. This appears in the portfolio view. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with ProShares Etf

0.73	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.76	GIGL	Goldman Sachs ETF	Pair Corr
0.86	BLUI	Exchange Traded Concepts	Pair Corr
0.84	KGLD	Kurv Gold Enhanced	Pair Corr
0.93	CAT	Caterpillar	Pair Corr
0.72	T	ATT Inc Aggressive Push	Pair Corr
0.84	WMT	Walmart Common Stock	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.8	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.88	PG	Procter Gamble	Pair Corr
0.68	INTC	Intel Downward Rally	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr

Moving against ProShares Etf

0.83	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.57	AVGG	Leverage Shares 2X	Pair Corr
0.56	MDBX	Tradr 2X Long	Pair Corr
0.51	UYG	ProShares Ultra	Pair Corr
0.49	TECL	Direxion Daily Technology	Pair Corr
0.36	QLD	ProShares Ultra QQQ	Pair Corr
0.85	HPQ	HP Inc	Pair Corr
0.79	MSFT	Microsoft	Pair Corr
0.62	IBM	International Business	Pair Corr
0.5	AXP	American Express	Pair Corr

Related Correlations Analysis

	UXI	UMDD	SAA	CBSE	JFLI	EET	RETL	WBIF	ASHS	FDRV
UXI		0.85	0.81	0.72	0.92	0.89	-0.09	0.94	0.84	0.51	UXI
UMDD	0.85		0.98	0.86	0.87	0.86	0.41	0.76	0.7	0.79	UMDD
SAA	0.81	0.98		0.84	0.82	0.82	0.45	0.72	0.67	0.74	SAA
CBSE	0.72	0.86	0.84		0.82	0.85	0.32	0.67	0.81	0.78	CBSE
JFLI	0.92	0.87	0.82	0.82		0.96	0.04	0.86	0.88	0.63	JFLI
EET	0.89	0.86	0.82	0.85	0.96		0.05	0.79	0.89	0.71	EET
RETL	-0.09	0.41	0.45	0.32	0.04	0.05		-0.18	-0.13	0.52	RETL
WBIF	0.94	0.76	0.72	0.67	0.86	0.79	-0.18		0.82	0.37	WBIF
ASHS	0.84	0.7	0.67	0.81	0.88	0.89	-0.13	0.82		0.49	ASHS
FDRV	0.51	0.79	0.74	0.78	0.63	0.71	0.52	0.37	0.49		FDRV
	UXI	UMDD	SAA	CBSE	JFLI	EET	RETL	WBIF	ASHS	FDRV

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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

SAA	+ 0.98	UMDD
EET	+ 0.96	JFLI
WBIF	+ 0.94	UXI
JFLI	+ 0.92	UXI
EET	+ 0.89	UXI
ASHS	+ 0.89	EET

High negative correlations

WBIF	- 0.18	RETL
ASHS	- 0.13	RETL
RETL	- 0.09	UXI

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
UXI	1.62	0.30	0.09	0.06	2.29	-1.50	2.75	-4.01	10.41
UMDD	2.09	0.28	0.03	0.00	2.81	-2.25	3.81	-5.28	17.38
SAA	1.60	0.17	0.00	-0.01	0.00	0.00	2.94	-3.71	11.19
CBSE	1.14	0.16	0.10	0.04	1.30	-1.17	1.89	-2.23	7.32
JFLI	0.43	0.06	0.16	0.02	0.56	-0.43	0.75	-1.11	3.11
EET	1.97	0.40	0.10	0.09	2.85	-1.97	4.31	-4.31	15.61
RETL	2.50	-0.19	0.00	-0.15	0.00	0.00	5.24	-5.74	14.03
WBIF	0.49	0.06	0.14	0.01	0.62	-0.55	1.19	-0.99	4.19
ASHS	1.06	0.23	0.16	0.29	1.47	-1.08	2.26	-2.08	8.77
FDRV	1.12	0.09	0.00	-0.02	0.00	0.00	2.49	-2.40	9.54

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