ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Industrials
UXI Etf  USD 45.25  0.22  0.48%   
The current 90-days correlation between ProShares Ultra Indu and ProShares Ultra Consumer is 0.83 (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

Good diversification

The correlation between ProShares Ultra Industrials and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Industrials 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 Industrials. 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

  0.97SSO ProShares Ultra SP500PairCorr
  0.97SPXL Direxion Daily SP500PairCorr
  0.99QLD ProShares Ultra QQQPairCorr
  0.81NRGU Bank of MontrealPairCorr
  0.99UPRO ProShares UltraPro SP500PairCorr
  0.97TECL Direxion Daily TechnologyPairCorr
  0.84GUSH Direxion Daily SPPairCorr
  0.93UYG ProShares Ultra FinaPairCorr
  0.97VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500PairCorr
  0.98IVV iShares Core SPPairCorr
  0.95VTV Vanguard Value Index Sell-off TrendPairCorr
  0.98VUG Vanguard Growth IndexPairCorr
  0.97VO Vanguard Mid CapPairCorr
  0.95VEA Vanguard FTSE DevelopedPairCorr
  0.96VB Vanguard Small CapPairCorr
  0.96VWO Vanguard FTSE EmergingPairCorr
  0.9IBM International Business Earnings Call TomorrowPairCorr
  0.91MMM 3M CompanyPairCorr
  0.95BAC Bank of AmericaPairCorr
  0.96GE GE Aerospace Earnings Call TodayPairCorr
  0.9AA Alcoa CorpPairCorr
  0.81PFE Pfizer IncPairCorr
  0.96CAT CaterpillarPairCorr
  0.95DIS Walt DisneyPairCorr
  0.97MSFT Microsoft Aggressive PushPairCorr
  0.95JPM JPMorgan Chase Sell-off TrendPairCorr
  0.94AXP American ExpressPairCorr

Moving against ProShares Etf

  0.61FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.59MCD McDonaldsPairCorr
  0.55KO Coca Cola Earnings Call TodayPairCorr
  0.44PG Procter Gamble Earnings Call This WeekPairCorr
  0.32VZ Verizon Communications Aggressive PushPairCorr

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   
SAA
+ 0.95
UCC
UPW
+ 0.89
UCC
SAA
+ 0.86
UPW
RXL
+ 0.17
UGE
UPW
+ 0.09
UGE
  
High negative correlations   
RXL
- 0.52
UCC
RXL
- 0.41
UPW
SAA
- 0.38
RXL
SAA
- 0.18
UGE
UGE
- 0.11
UCC

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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