ProShares Ultra Correlations

UVXY Etf

USD 16.79 0.19 1.12%

The current 90-days correlation between ProShares Ultra VIX and ProShares UltraPro Short is -0.08 (i.e., Good 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

Average diversification

The correlation between ProShares Ultra VIX and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra VIX 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 VIX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with ProShares Etf

0.96	VXX	iPath Series B Potential Growth	Pair Corr
1.0	VIXY	ProShares VIX Short Sell-off Trend	Pair Corr
0.87	VIXM	ProShares VIX Mid	Pair Corr
0.86	VXZ	iPath Series B	Pair Corr
0.61	MCD	McDonalds	Pair Corr

Moving against ProShares Etf

0.96	CEFD	ETRACS Monthly Pay	Pair Corr
0.96	ITDD	iShares Trust	Pair Corr
0.96	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.95	DIS	Walt Disney	Pair Corr
0.95	BAC	Bank of America Aggressive Push	Pair Corr
0.94	BA	Boeing Earnings Call This Week	Pair Corr
0.94	CAT	Caterpillar	Pair Corr
0.94	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.94	GE	GE Aerospace	Pair Corr
0.93	AXP	American Express	Pair Corr
0.89	MMM	3M Company	Pair Corr
0.88	IBM	International Business Earnings Call Today	Pair Corr
0.84	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.69	YCS	ProShares UltraShort Yen	Pair Corr
0.57	AMPD	Tidal ETF Services	Pair Corr
0.57	PMBS	PIMCO Mortgage Backed	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.5	UDN	Invesco DB Dollar	Pair Corr
0.47	XOM	Exxon Mobil Corp	Pair Corr
0.43	T	ATT Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.83	0.8	0.55	0.92	0.22	0.93	0.22	0.52	META
MSFT	0.98		0.86	0.84	0.5	0.86	0.22	0.96	0.27	0.51	MSFT
UBER	0.83	0.86		0.89	0.4	0.79	0.49	0.87	0.23	0.46	UBER
F	0.8	0.84	0.89		0.39	0.81	0.21	0.9	0.41	0.69	F
T	0.55	0.5	0.4	0.39		0.56	0.15	0.48	0.17	0.2	T
A	0.92	0.86	0.79	0.81	0.56		0.19	0.86	0.29	0.64	A
CRM	0.22	0.22	0.49	0.21	0.15	0.19		0.15	-0.28	-0.17	CRM
JPM	0.93	0.96	0.87	0.9	0.48	0.86	0.15		0.32	0.6	JPM
MRK	0.22	0.27	0.23	0.41	0.17	0.29	-0.28	0.32		0.51	MRK
XOM	0.52	0.51	0.46	0.69	0.2	0.64	-0.17	0.6	0.51		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.9	F
F	+ 0.89	UBER

High negative correlations

MRK	- 0.28	CRM
XOM	- 0.17	CRM

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.47	0.31	0.27	0.41	0.82	(1.80)	3.99	(2.00)	10.48
MSFT	0.86	0.33	0.38	0.59	0.00	(1.06)	2.33	(1.03)	8.85
UBER	1.61	0.18	0.12	0.34	1.40	(2.02)	4.19	(2.54)	10.87
F	1.30	0.17	0.08	0.40	1.40	(1.42)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.10)	0.10	1.30	(1.05)	2.35	(2.35)	5.71
A	1.50	(0.07)	0.02	0.12	1.79	(1.57)	2.58	(2.89)	14.01
CRM	1.30	(0.15)	(0.04)	0.06	1.69	(1.29)	2.95	(3.19)	9.31
JPM	0.87	0.22	0.18	0.42	0.58	(0.99)	2.25	(1.31)	6.03
MRK	1.38	0.11	(0.06)	(0.10)	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.12	0.04	(0.06)	0.32	1.38	(1.11)	2.40	(2.58)	6.28

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