ProShares Ultra Correlations

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 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 SP500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in state.
  
The ability to find closely correlated positions to ProShares Ultra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Ultra when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares Ultra - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares Ultra SP500 to buy it.

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
JPMF
XOMJPM
CRMUBER
JPMA
XOMF
UBERMETA
  
High negative correlations   
XOMT
TMETA
TUBER
MRKA
XOMCRM

ProShares Ultra Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.90  0.13  0.05  0.21  2.31 
 3.27 
 30.88 
MSFT  0.98 (0.07)(0.05) 0.01  1.15 
 2.11 
 5.31 
UBER  1.58  0.14 (0.01)(0.07) 1.66 
 2.64 
 18.39 
F  1.58  0.10  0.10  0.12  1.63 
 4.88 
 9.61 
T  0.92  0.00 (0.05) 0.08  1.08 
 1.95 
 5.92 
A  1.22  0.07 (0.01)(0.70) 1.37 
 2.29 
 6.31 
CRM  1.20 (0.09) 0.00 (0.20) 0.00 
 2.64 
 10.84 
JPM  0.80  0.10  0.08  0.16  1.25 
 1.94 
 8.65 
MRK  0.68  0.09  0.10  0.20  0.54 
 1.35 
 6.92 
XOM  0.81  0.23  0.18  0.57  0.71 
 1.96 
 4.66 

ProShares Ultra Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ProShares Ultra etf to make a market-neutral strategy. Peer analysis of ProShares Ultra could also be used in its relative valuation, which is a method of valuing ProShares Ultra by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Already Invested in ProShares Ultra SP500?

The danger of trading ProShares Ultra SP500 is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of ProShares Ultra is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than ProShares Ultra. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ProShares Ultra SP500 is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in state.
You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.

Other Tools for ProShares Etf

When running ProShares Ultra's price analysis, check to measure ProShares Ultra's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ProShares Ultra is operating at the current time. Most of ProShares Ultra's value examination focuses on studying past and present price action to predict the probability of ProShares Ultra's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ProShares Ultra's price. Additionally, you may evaluate how the addition of ProShares Ultra to your portfolios can decrease your overall portfolio volatility.
Latest Portfolios
Quick portfolio dashboard that showcases your latest portfolios
Portfolio Comparator
Compare the composition, asset allocations and performance of any two portfolios in your account
CEOs Directory
Screen CEOs from public companies around the world
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Portfolio Dashboard
Portfolio dashboard that provides centralized access to all your investments
Bond Analysis
Evaluate and analyze corporate bonds as a potential investment for your portfolios.
ETF Categories
List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments
Headlines Timeline
Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity
Alpha Finder
Use alpha and beta coefficients to find investment opportunities after accounting for the risk
Portfolio Center
All portfolio management and optimization tools to improve performance of your portfolios