ProShares Ultra Correlations

UYM Etf

USD 22.90 0.18 0.78%

The current 90-days correlation between ProShares Ultra Basic and ProShares Ultra Real is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Basic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Almost no diversification

The correlation between ProShares Ultra Basic and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Basic 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 Basic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with ProShares Etf

0.95	SSO	ProShares Ultra SP500	Pair Corr
0.91	SPXL	Direxion Daily SP500	Pair Corr
0.89	QLD	ProShares Ultra QQQ	Pair Corr
0.66	NRGU	Bank of Montreal	Pair Corr
0.91	UPRO	ProShares UltraPro SP500	Pair Corr
0.9	TECL	Direxion Daily Technology	Pair Corr
0.92	LABU	Direxion Daily SP	Pair Corr
0.92	GUSH	Direxion Daily SP	Pair Corr
0.94	UYG	ProShares Ultra Fina	Pair Corr
0.95	DHF	BNY Mellon High	Pair Corr
0.88	MAGS	Roundhill Magnificent	Pair Corr
0.78	ARP	Advisors Inner Circle	Pair Corr
0.9	PXMV	Invesco SP MidCap	Pair Corr
0.86	SEMI	Columbia Seligman	Pair Corr
0.61	MRK	Merck Company	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.84	AXP	American Express	Pair Corr
0.95	CAT	Caterpillar	Pair Corr
0.9	DIS	Walt Disney Aggressive Push	Pair Corr
0.73	GE	GE Aerospace	Pair Corr
0.87	PFE	Pfizer Inc	Pair Corr
0.87	IBM	International Business	Pair Corr
0.94	HPQ	HP Inc	Pair Corr
0.66	INTC	Intel Aggressive Push	Pair Corr

Moving against ProShares Etf

0.47	KO	Coca Cola	Pair Corr
0.45	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	URE	UXI	UGE	UPW	UCC
URE		0.75	0.53	0.57	0.68	URE
UXI	0.75		0.39	0.75	0.89	UXI
UGE	0.53	0.39		0.52	0.34	UGE
UPW	0.57	0.75	0.52		0.57	UPW
UCC	0.68	0.89	0.34	0.57		UCC
	URE	UXI	UGE	UPW	UCC

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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
URE	1.99	(0.05)	0.00	0.07	0.00	0.00	4.02	(5.03)	16.02
UXI	2.48	0.24	0.04	0.03	3.73	(2.48)	4.04	(4.63)	23.34
UGE	1.74	0.11	0.05	0.05	2.33	(1.84)	3.13	(3.47)	11.66
UPW	1.73	0.13	0.04	0.05	2.87	(1.56)	3.82	(4.18)	15.00
UCC	3.23	(0.01)	0.00	(0.08)	0.00	0.00	6.17	(7.60)	29.84

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