ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra MidCap400
MVV Etf  USD 66.10  0.17  0.26%   
The current 90-days correlation between ProShares Ultra MidCap400 and ProShares Ultra SmallCap600 is 0.97 (i.e., Almost no 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. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra MidCap400 and DJI is 0.82 (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 MidCap400 and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Ultra MidCap400. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with ProShares Etf

  0.97SSO ProShares Ultra SP500PairCorr
  0.97SPXL Direxion Daily SP500PairCorr
  0.96QLD ProShares Ultra QQQPairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.95TECL Direxion Daily TechnologyPairCorr
  0.83GUSH Direxion Daily SPPairCorr
  0.98UYG ProShares Ultra FinaPairCorr
  0.67VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.68SPY SPDR SP 500 Sell-off TrendPairCorr
  0.68IVV iShares Core SP Sell-off TrendPairCorr
  0.7VTV Vanguard Value IndexPairCorr
  0.66VUG Vanguard Growth IndexPairCorr
  0.66VO Vanguard Mid CapPairCorr
  0.67VB Vanguard Small CapPairCorr
  0.66IBM International Business Earnings Call This WeekPairCorr
  0.65MMM 3M CompanyPairCorr
  0.63BAC Bank of AmericaPairCorr
  0.69AA Alcoa CorpPairCorr
  0.7CAT CaterpillarPairCorr
  0.62DIS Walt DisneyPairCorr
  0.65MSFT MicrosoftPairCorr
  0.65JPM JPMorgan ChasePairCorr
  0.69AXP American ExpressPairCorr

Moving against ProShares Etf

  0.52MCD McDonaldsPairCorr
  0.44KO Coca Cola Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
UWM
+ 0.99
SAA
DDM
+ 0.99
UWM
DDM
+ 0.98
SAA
UXI
+ 0.97
UWM
UXI
+ 0.97
DDM
UXI
+ 0.96
SAA
  
High negative correlations   
MZZ
- 0.78
SAA
MZZ
- 0.77
UXI
MZZ
- 0.77
DDM
MZZ
- 0.76
UWM

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.

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