ProShares Ultra Correlations

UYM Etf

USD 28.10 0.28 0.99%

The current 90-days correlation between ProShares Ultra Basic and ProShares Ultra Industrials is 0.67 (i.e., Poor 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 Basic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra Basic and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Basic 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 Basic. 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

0.64	SSO	ProShares Ultra SP500	Pair Corr
0.62	SPXL	Direxion Daily SP500	Pair Corr
0.61	UPRO	ProShares UltraPro SP500	Pair Corr
0.77	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.75	UYG	ProShares Ultra Fina	Pair Corr
0.85	CPST	Calamos ETF Trust	Pair Corr
0.88	ITDD	iShares Trust	Pair Corr
0.94	ESN	Essential 40 Stock	Pair Corr
0.91	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.8	JPIE	JP Morgan Exchange	Pair Corr
0.72	PDBC	Invesco Optimum Yield	Pair Corr
0.73	MEM	MAYBANK EMERGING ETF	Pair Corr
0.85	VT	Vanguard Total World	Pair Corr
0.77	STOT	SPDR DoubleLine Short	Pair Corr
0.86	FALN	iShares Fallen Angels	Pair Corr
0.76	SMH	VanEck Semiconductor ETF	Pair Corr
0.77	XLF	Financial Select Sector	Pair Corr
0.73	SGVT	Schwab Strategic Trust	Pair Corr
0.89	KFEB	Innovator Small Cap	Pair Corr
0.67	VV	Vanguard Large Cap	Pair Corr
0.68	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.78	IWO	iShares Russell 2000	Pair Corr
0.79	VGSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.74	PQJL	PGIM Nasdaq 100	Pair Corr
0.65	ARLU	AIM ETF Products	Pair Corr
0.9	PAPI	Morgan Stanley ETF	Pair Corr
0.85	VYM	Vanguard High Dividend	Pair Corr
0.7	VOO	Vanguard SP 500 Sell-off Trend	Pair Corr
0.94	SETM	Sprott Energy Transition	Pair Corr
0.89	FIVA	Fidelity International	Pair Corr
0.66	QTUM	Defiance Quantum ETF	Pair Corr
0.84	SKOR	FlexShares Credit	Pair Corr

Moving against ProShares Etf

0.58

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	UXI	UMDD	SAA	CBSE	JFLI	EET	RETL	WBIF	ASHS	FDRV
UXI		0.94	0.89	0.75	0.85	0.87	0.8	0.87	0.91	0.54	UXI
UMDD	0.94		0.98	0.75	0.92	0.74	0.91	0.88	0.81	0.41	UMDD
SAA	0.89	0.98		0.73	0.88	0.65	0.94	0.88	0.72	0.38	SAA
CBSE	0.75	0.75	0.73		0.53	0.63	0.78	0.73	0.61	0.67	CBSE
JFLI	0.85	0.92	0.88	0.53		0.74	0.76	0.75	0.8	0.22	JFLI
EET	0.87	0.74	0.65	0.63	0.74		0.53	0.73	0.93	0.62	EET
RETL	0.8	0.91	0.94	0.78	0.76	0.53		0.78	0.62	0.37	RETL
WBIF	0.87	0.88	0.88	0.73	0.75	0.73	0.78		0.68	0.69	WBIF
ASHS	0.91	0.81	0.72	0.61	0.8	0.93	0.62	0.68		0.47	ASHS
FDRV	0.54	0.41	0.38	0.67	0.22	0.62	0.37	0.69	0.47		FDRV
	UXI	UMDD	SAA	CBSE	JFLI	EET	RETL	WBIF	ASHS	FDRV

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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
UXI	1.39	0.07	0.08	0.12	1.63	(1.45)	2.55	(3.15)	7.53
UMDD	2.10	0.03	0.08	0.10	2.37	(2.12)	4.58	(4.00)	11.32
SAA	1.71	0.02	0.08	0.10	1.82	(1.96)	3.62	(2.77)	8.61
CBSE	1.05	(0.05)	(0.03)	0.04	1.38	(1.00)	1.85	(2.50)	5.36
JFLI	0.33	0.02	(0.05)	0.14	0.26	(0.36)	0.71	(0.71)	1.95
EET	1.31	0.16	0.13	0.21	1.24	(1.50)	2.86	(2.38)	7.22
RETL	2.68	(0.06)	0.06	0.07	3.00	(3.43)	5.26	(4.88)	15.95
WBIF	0.54	(0.03)	(0.06)	0.05	0.65	(0.55)	1.19	(1.18)	2.84
ASHS	0.94	0.19	0.12	0.55	0.91	(1.01)	1.76	(1.76)	5.04
FDRV	1.08	(0.12)	(0.05)	0.00	1.55	(1.01)	2.25	(2.07)	6.65

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