ProShares UltraPro Correlations

UPRO Etf

USD 117.03 3.88 3.21%

The current 90-days correlation between ProShares UltraPro SP500 and Vanguard Russell 3000 is 0.99 (i.e., No risk reduction). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraPro moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraPro SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraPro Correlation With Market

Very poor diversification

The correlation between ProShares UltraPro SP500 and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro SP500 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 SP500. 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

1.0	SSO	ProShares Ultra SP500	Pair Corr
1.0	SPXL	Direxion Daily SP500	Pair Corr
0.98	QLD	ProShares Ultra QQQ	Pair Corr
0.94	TECL	Direxion Daily Technology	Pair Corr
0.88	LABU	Direxion Daily SP	Pair Corr
0.7	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.89	USD	ProShares Ultra Semi	Pair Corr
0.9	DFEN	Direxion Daily Aerospace	Pair Corr
0.86	URNM	Sprott Uranium Miners	Pair Corr
0.95	FNGO	MicroSectors FANG Index	Pair Corr
0.84	XME	SPDR SP Metals	Pair Corr
0.92	GE	GE Aerospace	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.9	IBM	International Business Tech Boost	Pair Corr
0.87	AA	Alcoa Corp Downward Rally	Pair Corr
0.87	AXP	American Express	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.84	BAC	Bank of America Aggressive Push	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr

Moving against ProShares Etf

0.68	MLPR	ETRACS Quarterly Pay	Pair Corr
0.58	VZ	Verizon Communications Aggressive Push	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	VTHR	DSI	OMFL	SCHK	SHLD	PVAL	VFLO	VIOO	BKLC	XMMO
VTHR		0.98	0.96	1.0	0.87	0.96	0.86	0.86	1.0	0.95	VTHR
DSI	0.98		0.9	0.98	0.87	0.92	0.77	0.76	0.99	0.91	DSI
OMFL	0.96	0.9		0.95	0.79	0.95	0.87	0.89	0.95	0.89	OMFL
SCHK	1.0	0.98	0.95		0.87	0.96	0.85	0.84	1.0	0.94	SCHK
SHLD	0.87	0.87	0.79	0.87		0.79	0.7	0.65	0.87	0.84	SHLD
PVAL	0.96	0.92	0.95	0.96	0.79		0.94	0.94	0.95	0.92	PVAL
VFLO	0.86	0.77	0.87	0.85	0.7	0.94		0.96	0.84	0.85	VFLO
VIOO	0.86	0.76	0.89	0.84	0.65	0.94	0.96		0.83	0.84	VIOO
BKLC	1.0	0.99	0.95	1.0	0.87	0.95	0.84	0.83		0.94	BKLC
XMMO	0.95	0.91	0.89	0.94	0.84	0.92	0.85	0.84	0.94		XMMO
	VTHR	DSI	OMFL	SCHK	SHLD	PVAL	VFLO	VIOO	BKLC	XMMO

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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
VTHR	0.54	0.01	0.01	0.10	0.59	(0.58)	1.30	(0.69)	4.35
DSI	0.55	0.02	0.02	0.11	0.61	(0.61)	1.34	(0.80)	4.47
OMFL	0.45	(0.03)	(0.08)	0.06	0.53	(0.48)	1.00	(0.92)	3.25
SCHK	0.53	0.01	0.01	0.10	0.61	(0.61)	1.14	(0.74)	4.35
SHLD	0.94	0.08	0.04	0.20	1.21	(0.97)	2.08	(1.94)	6.03
PVAL	0.45	0.00	(0.02)	0.09	0.51	(0.46)	1.17	(0.87)	3.37
VFLO	0.67	(0.02)	(0.02)	0.07	0.79	(0.73)	1.43	(0.94)	5.53
VIOO	0.87	(0.06)	(0.01)	0.06	0.89	(1.02)	2.27	(1.39)	6.99
BKLC	0.52	0.02	0.01	0.11	0.62	(0.56)	1.21	(0.69)	4.27
XMMO	0.69	(0.06)	(0.07)	0.03	0.79	(0.73)	1.70	(1.22)	4.43

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