We consider ProShares UltraPro not very volatile. ProShares UltraPro 3x maintains Sharpe Ratio (i.e. Efficiency) of 0.0406 which implies ProShares UltraPro 3x had 0.0406% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of a etf is to use all available market data together with company specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for ProShares UltraPro 3x which you can use to evaluate future volatility of the etf. Please check ProShares UltraPro 3x Coefficient Of Variation of
(1,521) and Risk Adjusted Performance of (0.008477) to confirm if risk estimate we provide are consistent with the epected return of 0.1488%.
|Investment Horizon||30 Days Login to change|
ProShares UltraPro Market Sensitivity
|As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, ProShares UltraPro will likely underperform.One Month Beta |Analyze ProShares UltraPro 3x Demand TrendCheck current 30 days ProShares UltraPro correlation with market (DOW)|
β = 7.2639
Projected Return Density Against MarketGiven the investment horizon of 30 days, the etf has beta coefficient of 7.2639 . This implies as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are expected to be negative, ProShares UltraPro will likely underperform. Additionally, ProShares UltraPro 3x Short Crude Oil has a negative alpha implying that the risk taken by holding this equity is not justified. The company is significantly underperforming DOW
Given the investment horizon of 30 days, the coefficient of variation of ProShares UltraPro is 2461.84. The daily returns are destributed with a variance of 13.41 and standard deviation of 3.66. The mean deviation of ProShares UltraPro 3x Short Crude Oil is currently at 2.62. For similar time horizon, the selected benchmark (DOW) has volatility of 0.27