ProShares UltraPro Correlations

URTY Etf

USD 42.39 1.87 4.23%

The current 90-days correlation between ProShares UltraPro and ProShares UltraPro MidCap400 is 0.98 (i.e., Almost no 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraPro Correlation With Market

Almost no diversification

The correlation between ProShares UltraPro Russell2000 and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraPro Russell2000 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 Russell2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with ProShares Etf

0.98	SSO	ProShares Ultra SP500	Pair Corr
0.95	SPXL	Direxion Daily SP500	Pair Corr
0.95	QLD	ProShares Ultra QQQ	Pair Corr
0.89	NRGU	Bank of Montreal	Pair Corr
0.95	UPRO	ProShares UltraPro SP500	Pair Corr
0.98	TECL	Direxion Daily Technology	Pair Corr
0.75	LABU	Direxion Daily SP	Pair Corr
0.9	GUSH	Direxion Daily SP	Pair Corr
0.96	UYG	ProShares Ultra Fina	Pair Corr
0.8	LENS	Sarmaya Thematic ETF	Pair Corr
0.96	MAPP	Harbor ETF Trust	Pair Corr
0.66	PRME	Prime Medicine, Common	Pair Corr
0.7	HART	IQ Healthy Hearts	Pair Corr
0.86	JUNE	Junee Limited Ordinary Symbol Change	Pair Corr
0.97	SNPD	DBX ETF Trust	Pair Corr
0.99	EVUS	iShares ESG Aware	Pair Corr
0.92	XOP	SPDR SP Oil	Pair Corr
0.8	INTC	Intel Aggressive Push	Pair Corr
0.95	CSCO	Cisco Systems	Pair Corr
0.97	BAC	Bank of America Earnings Call This Week	Pair Corr
0.9	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.8	CVX	Chevron Corp	Pair Corr
0.95	DD	Dupont De Nemours	Pair Corr
0.92	GE	GE Aerospace	Pair Corr
0.92	MMM	3M Company Earnings Call This Week	Pair Corr
0.73	HD	Home Depot	Pair Corr
0.98	AXP	American Express Earnings Call This Week	Pair Corr
0.71	T	ATT Inc	Pair Corr
0.94	AA	Alcoa Corp Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.76	WNTR	Tidal Trust II	Pair Corr
0.56	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	UMDD	SRTY	UDOW	UPRO	MIDU
UMDD		-0.98	0.97	0.94	1.0	UMDD
SRTY	-0.98		-0.94	-0.93	-0.98	SRTY
UDOW	0.97	-0.94		0.94	0.97	UDOW
UPRO	0.94	-0.93	0.94		0.94	UPRO
MIDU	1.0	-0.98	0.97	0.94		MIDU
	UMDD	SRTY	UDOW	UPRO	MIDU

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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

MIDU	+ 1.0	UMDD
UDOW	+ 0.97	UMDD
MIDU	+ 0.97	UDOW
UPRO	+ 0.94	UMDD
UPRO	+ 0.94	UDOW
MIDU	+ 0.94	UPRO

High negative correlations

MIDU	- 0.98	SRTY
SRTY	- 0.98	UMDD
UDOW	- 0.94	SRTY
UPRO	- 0.93	SRTY

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
UMDD	3.07	0.08	0.17	0.26	3.46	(3.68)	6.66	(6.05)	40.74
SRTY	3.33	(0.18)	0.00	0.29	0.00	0.00	6.29	(7.51)	33.48
UDOW	2.55	0.00	0.15	0.23	2.72	(3.01)	5.34	(5.46)	30.73
UPRO	2.68	1.21	0.20	(0.86)	2.85	(3.04)	6.20	(5.00)	38.41
MIDU	3.11	0.03	0.16	0.25	3.53	(3.60)	7.01	(6.67)	45.58

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