ProShares UltraPro Correlations

UMDD Etf

USD 24.05 0.10 0.41%

The current 90-days correlation between ProShares UltraPro and ProShares Ultra SP500 is -0.05 (i.e., Good diversification). The correlation of ProShares UltraPro 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 UltraPro Correlation With Market

Good diversification

The correlation between ProShares UltraPro MidCap400 and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro MidCap400 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 UltraPro 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 unemployment.

Moving together with ProShares Etf

0.96	SSO	ProShares Ultra SP500	Pair Corr
0.96	SPXL	Direxion Daily SP500	Pair Corr
0.97	QLD	ProShares Ultra QQQ	Pair Corr
0.84	NRGU	Bank of Montreal	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.95	TECL	Direxion Daily Technology	Pair Corr
0.84	GUSH	Direxion Daily SP	Pair Corr
0.94	UYG	ProShares Ultra Fina	Pair Corr
0.96	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.94	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.96	VUG	Vanguard Growth Index	Pair Corr
0.96	VO	Vanguard Mid Cap	Pair Corr
0.91	VEA	Vanguard FTSE Developed	Pair Corr
0.97	VB	Vanguard Small Cap	Pair Corr
0.94	VWO	Vanguard FTSE Emerging	Pair Corr
0.87	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.91	MMM	3M Company	Pair Corr
0.94	BAC	Bank of America	Pair Corr
0.9	GE	GE Aerospace Earnings Call Today	Pair Corr
0.91	AA	Alcoa Corp	Pair Corr
0.8	PFE	Pfizer Inc	Pair Corr
0.94	CAT	Caterpillar	Pair Corr
0.92	DIS	Walt Disney	Pair Corr
0.94	MSFT	Microsoft Aggressive Push	Pair Corr
0.95	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.94	AXP	American Express	Pair Corr

Moving against ProShares Etf

0.56	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.56	KO	Coca Cola Earnings Call Today	Pair Corr
0.56	MCD	McDonalds	Pair Corr
0.5	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SSO	SPXL	QLD	NRGU	UPRO	TECL	LABU	GUSH	UYG
SSO		1.0	0.98	0.86	0.98	0.99	0.67	0.87	0.96	SSO
SPXL	1.0		0.98	0.86	0.98	0.99	0.67	0.87	0.96	SPXL
QLD	0.98	0.98		0.84	1.0	0.98	0.63	0.87	0.92	QLD
NRGU	0.86	0.86	0.84		0.84	0.87	0.62	0.97	0.77	NRGU
UPRO	0.98	0.98	1.0	0.84		0.98	0.65	0.86	0.92	UPRO
TECL	0.99	0.99	0.98	0.87	0.98		0.68	0.87	0.93	TECL
LABU	0.67	0.67	0.63	0.62	0.65	0.68		0.53	0.56	LABU
GUSH	0.87	0.87	0.87	0.97	0.86	0.87	0.53		0.78	GUSH
UYG	0.96	0.96	0.92	0.77	0.92	0.93	0.56	0.78		UYG
	SSO	SPXL	QLD	NRGU	UPRO	TECL	LABU	GUSH	UYG

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ProShares UltraPro Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraPro 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 UltraPro'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
SSO	1.31	0.21	0.17	0.25	1.34	(1.43)	4.12	(2.27)	9.89
SPXL	1.97	0.31	0.20	0.25	2.10	(2.19)	6.15	(3.38)	14.80
QLD	1.58	0.62	0.23	(4.26)	1.45	(1.79)	4.64	(2.57)	10.91
NRGU	3.71	0.58	0.15	0.57	3.64	(4.45)	8.63	(6.66)	19.87
UPRO	1.98	0.70	0.20	(2.95)	2.12	(2.23)	6.11	(3.49)	14.81
TECL	2.79	0.74	0.32	0.37	2.66	(3.43)	6.98	(4.35)	19.26
LABU	3.92	0.05	0.07	0.15	5.16	(4.21)	8.36	(7.25)	28.59
GUSH	2.76	0.40	0.12	0.59	2.92	(3.02)	6.28	(4.94)	14.64
UYG	1.49	0.03	0.08	0.15	1.65	(1.70)	3.49	(3.32)	10.74

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