ProShares Ultra Correlations

UBT Etf

USD 16.16 0.32 2.02%

The current 90-days correlation between ProShares Ultra 20 and Direxion Daily 20 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

Modest diversification

The correlation between ProShares Ultra 20 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 20 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 20. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with ProShares Etf

0.99	TMF	Direxion Daily 20	Pair Corr
0.91	TYD	Direxion Daily 7	Pair Corr
0.83	UST	ProShares Ultra 7	Pair Corr

Moving against ProShares Etf

0.56	BTCL	T Rex 2X	Pair Corr
0.55	BITU	ProShares Trust	Pair Corr
0.55	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.55	BITX	Volatility Shares Trust	Pair Corr
0.4	EWG	iShares MSCI Germany	Pair Corr
0.39	FQAL	Fidelity Quality Factor	Pair Corr
0.38	DFEN	Direxion Daily Aerospace	Pair Corr
0.38	TBLU	Tortoise Capital Series Symbol Change	Pair Corr
0.37	QQQI	NEOS Nasdaq 100	Pair Corr
0.36	INRO	BlackRock Industry	Pair Corr
0.36	VXUS	Vanguard Total Inter	Pair Corr
0.35	XSD	SPDR SP Semiconductor	Pair Corr
0.35	FMDE	Fidelity Covington Trust	Pair Corr
0.35	PAUG	Innovator Equity Power	Pair Corr
0.34	EWA	iShares MSCI Australia	Pair Corr
0.34	XAR	SPDR SP Aerospace	Pair Corr
0.33	PXF	Invesco FTSE RAFI	Pair Corr
0.33	CAMX	Cambiar Aggressive Value	Pair Corr
0.33	MINT	PIMCO Enhanced Short	Pair Corr
0.49	BPI	Grayscale Funds Trust	Pair Corr
0.46	FTXR	First Trust Nasdaq	Pair Corr
0.42	WCLD	WisdomTree Cloud Com	Pair Corr
0.41	AVMV	American Century ETF	Pair Corr
0.38	WBIF	WBI BullBear Value	Pair Corr
0.37	DHSB	Strategy Shares	Pair Corr
0.35	NVDY	Tidal Trust II	Pair Corr
0.34	ESIX	SPDR SP SmallCap	Pair Corr
0.34	JIVE	JPMorgan International	Pair Corr
0.34	VOO	Vanguard SP 500	Pair Corr
0.34	XLG	Invesco SP 500	Pair Corr
0.33	VIOO	Vanguard SP Small	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.81	0.54	0.92	0.25	0.93	0.23	0.54	META
MSFT	0.98		0.86	0.84	0.5	0.88	0.25	0.95	0.24	0.53	MSFT
UBER	0.84	0.86		0.9	0.4	0.8	0.52	0.88	0.21	0.48	UBER
F	0.81	0.84	0.9		0.39	0.84	0.24	0.91	0.43	0.7	F
T	0.54	0.5	0.4	0.39		0.51	0.15	0.49	0.27	0.21	T
A	0.92	0.88	0.8	0.84	0.51		0.16	0.89	0.33	0.66	A
CRM	0.25	0.25	0.52	0.24	0.15	0.16		0.19	-0.27	-0.14	CRM
JPM	0.93	0.95	0.88	0.91	0.49	0.89	0.19		0.3	0.6	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.33	-0.27	0.3		0.55	MRK
XOM	0.54	0.53	0.48	0.7	0.21	0.66	-0.14	0.6	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MSFT	+ 0.98	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.27	CRM
XOM	- 0.14	CRM

ProShares Ultra Competition 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	1.50	0.30	0.24	0.36	1.02	(1.80)	3.99	(2.35)	10.48
MSFT	0.89	0.31	0.27	0.48	0.52	(1.06)	2.33	(1.08)	8.85
UBER	1.63	0.19	0.12	0.32	1.40	(2.06)	4.19	(2.54)	10.87
F	1.29	0.20	0.10	0.41	1.39	(1.42)	2.69	(2.33)	7.46
T	1.03	(0.05)	(0.09)	0.02	1.34	(1.08)	2.35	(2.35)	5.71
A	1.46	0.18	0.00	(0.42)	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.14)	(0.05)	0.04	1.71	(1.31)	2.95	(3.19)	9.31
JPM	0.90	0.35	0.18	(2.74)	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.38	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.06	(0.03)	0.46	1.38	(1.13)	2.40	(2.58)	6.28

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

2025 Macroaxis LLC