ProShares Ultra Correlations

QLD Etf

USD 141.06 5.48 3.74%

The current 90-days correlation between ProShares Ultra QQQ and Avantis Equity ETF is 0.89 (i.e., Very 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. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ProShares Ultra Correlation With Market

Poor diversification

The correlation between ProShares Ultra QQQ and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra QQQ and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.98	SSO	ProShares Ultra SP500	Pair Corr
0.98	SPXL	Direxion Daily SP500	Pair Corr
0.98	UPRO	ProShares UltraPro SP500	Pair Corr
0.99	TECL	Direxion Daily Technology	Pair Corr
0.91	LABU	Direxion Daily SP	Pair Corr
0.79	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.96	VTI	Vanguard Total Stock	Pair Corr
0.98	SPY	SPDR SP 500	Pair Corr
0.98	IVV	iShares Core SP	Pair Corr
0.8	BND	Vanguard Total Bond	Pair Corr
0.79	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.99	VUG	Vanguard Growth Index	Pair Corr
0.65	VO	Vanguard Mid Cap	Pair Corr
0.91	VEA	Vanguard FTSE Developed	Pair Corr
0.64	VB	Vanguard Small Cap	Pair Corr
0.92	VWO	Vanguard FTSE Emerging	Pair Corr
0.9	PICK	iShares MSCI Global	Pair Corr
0.94	JANW	AIM ETF Products	Pair Corr
0.9	AIPO	Defiance AI Power	Pair Corr
0.9	FLSP	Franklin Liberty Sys	Pair Corr
0.95	NVBT	AIM ETF Products	Pair Corr
0.64	AVEE	American Century ETF	Pair Corr
0.89	AHLT	American Beacon Select	Pair Corr
0.83	NVDY	YieldMax NVDA Option	Pair Corr
0.98	SDTY	YieldMax SP 500	Pair Corr
0.95	YMAG	YieldMax Magnificent	Pair Corr
0.65	INDE	Matthews International	Pair Corr
0.82	MGOV	First Trust Exchange	Pair Corr
0.96	ITOT	iShares Core SP	Pair Corr
0.97	SMH	VanEck Semiconductor ETF	Pair Corr
0.75	HFMF	Unlimited HFMF Managed	Pair Corr
0.78	JOET	Virtus ETF Trust	Pair Corr
0.76	FLGV	Franklin Liberty Treasury	Pair Corr

Related Correlations Analysis

	AVUS	DUHP	XLG	VONE	IGV	VPU	EFG	DFAU	AVDE	VUIAX
AVUS		0.95	0.96	0.99	0.81	0.63	0.88	0.99	0.94	0.61	AVUS
DUHP	0.95		0.92	0.97	0.84	0.77	0.94	0.97	0.95	0.74	DUHP
XLG	0.96	0.92		0.99	0.81	0.71	0.86	0.98	0.89	0.7	XLG
VONE	0.99	0.97	0.99		0.83	0.71	0.91	1.0	0.94	0.69	VONE
IGV	0.81	0.84	0.81	0.83		0.59	0.75	0.82	0.77	0.55	IGV
VPU	0.63	0.77	0.71	0.71	0.59		0.78	0.69	0.69	0.98	VPU
EFG	0.88	0.94	0.86	0.91	0.75	0.78		0.91	0.96	0.76	EFG
DFAU	0.99	0.97	0.98	1.0	0.82	0.69	0.91		0.94	0.67	DFAU
AVDE	0.94	0.95	0.89	0.94	0.77	0.69	0.96	0.94		0.66	AVDE
VUIAX	0.61	0.74	0.7	0.69	0.55	0.98	0.76	0.67	0.66		VUIAX
	AVUS	DUHP	XLG	VONE	IGV	VPU	EFG	DFAU	AVDE	VUIAX

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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
AVUS	0.51	(0.01)	(0.01)	0.07	0.63	(0.51)	1.14	(0.98)	4.73
DUHP	0.46	(0.03)	(0.07)	0.05	0.55	(0.50)	0.90	(0.84)	3.45
XLG	0.60	0.04	0.04	0.13	0.74	(0.64)	1.11	(1.33)	4.46
VONE	0.51	0.00	0.00	0.08	0.63	(0.53)	1.18	(1.00)	4.28
IGV	0.93	(0.13)	0.00	(0.03)	0.00	0.00	1.58	(2.18)	5.47
VPU	0.58	0.02	(0.04)	0.15	0.65	(0.61)	1.24	(1.09)	3.28
EFG	0.64	(0.01)	(0.02)	0.07	0.76	(0.66)	1.18	(1.13)	3.85
DFAU	0.50	0.00	0.00	0.08	0.65	(0.52)	1.10	(1.06)	4.51
AVDE	0.50	0.01	(0.02)	0.10	0.54	(0.52)	1.02	(0.89)	3.42
VUIAX	0.60	0.06	(0.04)	(0.71)	0.66	(0.64)	1.25	(1.13)	3.32

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ProShares Ultra Correlations

ProShares Ultra Correlation With Market

Poor diversification

Moving together with ProShares Etf

Related Correlations Analysis

ProShares Ultra Constituents Risk-Adjusted Indicators

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