ProShares Ultra Correlations

EFO Etf

USD 44.70 0.82 1.80%

The current 90-days correlation between ProShares Ultra MSCI and ProShares Ultra SP500 is 0.4 (i.e., Very weak 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 MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Modest diversification

The correlation between ProShares Ultra MSCI and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra MSCI and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Ultra MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with ProShares Etf

0.9	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.63	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.83	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against ProShares Etf

0.82	UYG	ProShares Ultra Fina	Pair Corr
0.79	BITX	Volatility Shares Trust	Pair Corr
0.7	WEBL	Direxion Daily Dow	Pair Corr
0.68	NVDU	Direxion Daily NVDA	Pair Corr
0.67	FNGU	MicroSectors FANG Index	Pair Corr
0.67	NVDL	GraniteShares 15x Long Downward Rally	Pair Corr
0.67	NVDX	T Rex 2X	Pair Corr
0.61	SSO	ProShares Ultra SP500	Pair Corr
0.6	SPXL	Direxion Daily SP500	Pair Corr
0.6	UPRO	ProShares UltraPro SP500	Pair Corr
0.56	QLD	ProShares Ultra QQQ	Pair Corr
0.55	GUSH	Direxion Daily SP	Pair Corr
0.44	TECL	Direxion Daily Technology	Pair Corr
0.41	USD	ProShares Ultra Semi	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.77	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.77	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.72	DIS	Walt Disney	Pair Corr
0.72	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.37	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	SSO	SPXL	QLD	UPRO	TECL	LABU	GUSH	FNGU	UYG
SSO		1.0	0.98	1.0	0.93	-0.24	0.69	0.96	0.91	SSO
SPXL	1.0		0.98	1.0	0.94	-0.23	0.68	0.96	0.91	SPXL
QLD	0.98	0.98		0.98	0.96	-0.21	0.61	0.97	0.85	QLD
UPRO	1.0	1.0	0.98		0.94	-0.23	0.68	0.96	0.91	UPRO
TECL	0.93	0.94	0.96	0.94		-0.17	0.57	0.9	0.75	TECL
LABU	-0.24	-0.23	-0.21	-0.23	-0.17		-0.4	-0.29	-0.34	LABU
GUSH	0.69	0.68	0.61	0.68	0.57	-0.4		0.6	0.73	GUSH
FNGU	0.96	0.96	0.97	0.96	0.9	-0.29	0.6		0.89	FNGU
UYG	0.91	0.91	0.85	0.91	0.75	-0.34	0.73	0.89		UYG
	SSO	SPXL	QLD	UPRO	TECL	LABU	GUSH	FNGU	UYG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

SPXL	+ 1.0	SSO
UPRO	+ 1.0	SSO
UPRO	+ 1.0	SPXL
QLD	+ 0.98	SSO
QLD	+ 0.98	SPXL
UPRO	+ 0.98	QLD

High negative correlations

GUSH	- 0.4	LABU
UYG	- 0.34	LABU
FNGU	- 0.29	LABU
LABU	- 0.24	SSO
LABU	- 0.23	UPRO
LABU	- 0.23	SPXL

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
SSO	0.94	0.11	0.12	0.19	1.04	(1.01)	1.99	(1.86)	7.58
SPXL	1.40	0.16	0.14	0.19	1.64	(1.47)	3.00	(2.79)	11.38
QLD	1.38	0.21	0.13	0.24	1.50	(1.43)	3.15	(2.83)	10.27
UPRO	1.41	0.16	0.15	0.19	1.64	(1.48)	3.00	(2.77)	11.39
TECL	2.56	0.25	0.12	0.21	3.32	(2.76)	5.54	(6.15)	19.94
LABU	2.98	(0.43)	0.00	(0.01)	0.00	0.00	6.23	(6.91)	23.20
GUSH	2.37	0.02	0.02	0.13	3.13	(2.37)	4.29	(4.96)	16.99
FNGU	2.77	0.63	0.21	0.38	2.99	(3.11)	7.14	(4.98)	20.09
UYG	1.38	0.02	0.12	0.12	1.21	(1.55)	2.72	(2.52)	15.62

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

2024 Macroaxis LLC