ProShares Ultra Correlations

EZJ Etf

USD 38.94 1.82 4.90%

The current 90-days correlation between ProShares Ultra MSCI and ProShares Ultra MSCI is 0.76 (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 MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very weak diversification

The correlation between ProShares Ultra MSCI and DJI is 0.53 (i.e., Very weak 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 nation.

Moving together with ProShares Etf

0.62	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.74	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr

Moving against ProShares Etf

0.68	DAPP	VanEck Digital Trans	Pair Corr
0.66	CRPT	First Trust SkyBridge	Pair Corr
0.65	UYG	ProShares Ultra Fina	Pair Corr
0.65	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.64	BITX	Volatility Shares Trust	Pair Corr
0.64	EOS	Eaton Vance Enhanced	Pair Corr
0.61	NVDU	Direxion Daily NVDA	Pair Corr
0.6	NVDL	GraniteShares 15x Long	Pair Corr
0.6	NVDX	T Rex 2X	Pair Corr
0.6	CONL	GraniteShares ETF Trust	Pair Corr
0.6	DPST	Direxion Daily Regional	Pair Corr
0.57	FNGU	MicroSectors FANG Index	Pair Corr
0.48	ETH	Grayscale Ethereum Mini	Pair Corr
0.46	SSO	ProShares Ultra SP500	Pair Corr
0.45	SPXL	Direxion Daily SP500	Pair Corr
0.45	UPRO	ProShares UltraPro SP500	Pair Corr
0.42	QLD	ProShares Ultra QQQ	Pair Corr
0.33	TECL	Direxion Daily Technology	Pair Corr
0.77	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.7	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.69	BAC	Bank of America Aggressive Push	Pair Corr
0.65	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.64	WMT	Walmart Aggressive Push	Pair Corr
0.6	DIS	Walt Disney Sell-off Trend	Pair Corr
0.57	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.47	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.31	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

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
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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