ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra High
UJB Etf  USD 74.64  0.15  0.20%   
The current 90-days correlation between ProShares Ultra High and ProShares Ultra FTSE is 0.8 (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

Very poor diversification

The correlation between ProShares Ultra High and DJI is 0.88 (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 High 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 High. 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

  0.94SIXD AIM ETF ProductsPairCorr
  0.62PFFL ETRACS 2xMonthly PayPairCorr
  0.94CEFD ETRACS Monthly PayPairCorr
  0.83SEIE SEI Select InternationalPairCorr
  0.79IDVZ Opal InternationalPairCorr
  0.88AVEM Avantis Emerging MarketsPairCorr
  0.7FFDI FFDIPairCorr
  0.67MISL First Trust IndxxPairCorr
  0.88MOO VanEck Agribusiness ETFPairCorr
  0.75DTH WisdomTree InternationalPairCorr
  0.76GHYG iShares Intl HighPairCorr
  0.83WNDY Global X WindPairCorr
  0.83EWN iShares MSCI NetherlandsPairCorr
  0.68PPT Putnam Premier IncomePairCorr
  0.68ICLN iShares Global CleanPairCorr
  0.75FNDC Schwab FundamentalPairCorr
  0.87EXI iShares Global IndusPairCorr
  0.85DFAX Dimensional WorldPairCorr

Moving against ProShares Etf

  0.87VIXY ProShares VIX Short Potential GrowthPairCorr
  0.87VXX iPath Series BPairCorr
  0.39UST ProShares Ultra 7PairCorr
  0.31YCL ProShares Ultra YenPairCorr
  0.68VXZ iPath Series BPairCorr

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   
EFO
+ 1.0
UPV
EZJ
+ 0.97
EFO
EZJ
+ 0.95
UPV
UBR
+ 0.78
UPV
UBR
+ 0.78
EFO
EZJ
+ 0.75
UBR
  
High negative correlations   
UBR
- 0.52
UBT
UBT
- 0.41
UPV
UBT
- 0.38
EFO
EZJ
- 0.31
UBT

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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