Correlation Analysis Between DOW and ProShares UltraPro

This module allows you to analyze existing cross correlation between DOW and ProShares UltraPro 3x Shrt Crude Oil ETF. You can compare the effects of market volatilities on DOW and ProShares UltraPro and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in DOW with a short position of ProShares UltraPro. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and ProShares UltraPro.
Horizon     30 Days    Login   to change
Symbolsvs

DOW  vs.  ProShares UltraPro 3x Shrt Cru

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.1 times more return on investment than ProShares UltraPro. However, DOW is 10.24 times less risky than ProShares UltraPro. It trades about 0.23 of its potential returns per unit of risk. ProShares UltraPro 3x Shrt Crude Oil ETF is currently generating about -0.23 per unit of risk. If you would invest  2,575,869  in DOW on August 20, 2018 and sell it today you would earn a total of  48,827  from holding DOW or generate 1.9% return on investment over 30 days.

Pair Corralation between DOW and ProShares UltraPro

-0.56
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and ProShares UltraPro 3x Shrt Cru in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ProShares UltraPro and DOW is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on DOW are associated (or correlated) with ProShares UltraPro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares UltraPro has no effect on the direction of DOW i.e. DOW and ProShares UltraPro go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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