ProShares Ultra Correlations

QLD Etf

USD 96.55 2.22 2.35%

The current 90-days correlation between ProShares Ultra QQQ and ProShares UltraShort QQQ is -1.0 (i.e., Pay attention - limited upside). 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

Very weak diversification

The correlation between ProShares Ultra QQQ and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra QQQ and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Ultra QQQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ProShares Etf

0.84	SSO	ProShares Ultra SP500	Pair Corr
0.87	SPXL	Direxion Daily SP500	Pair Corr
0.87	UPRO	ProShares UltraPro SP500	Pair Corr
0.97	TECL	Direxion Daily Technology Buyout Trend	Pair Corr
0.96	FNGU	MicroSectors FANG Index	Pair Corr
0.93	MAGS	Roundhill Magnificent Symbol Change	Pair Corr
0.76	ARP	Advisors Inner Circle	Pair Corr
0.72	ENTR	ERShares Entrepreneurs Symbol Change	Pair Corr
0.89	SEMI	Columbia Seligman	Pair Corr
0.9	MSFT	Microsoft	Pair Corr

Moving against ProShares Etf

0.64	FNTC	Direxion	Pair Corr
0.46	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.44	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.38	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.32	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	QID	444859BR2	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP
QID		0.16	0.0	-0.41	0.05	-0.03	0.12	0.03	QID
444859BR2	0.16		0.0	0.33	0.65	0.56	-0.14	-0.48	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	-0.41	0.33	0.0		0.54	0.81	-0.18	-0.29	MSTSX
ABHYX	0.05	0.65	0.0	0.54		0.89	-0.28	-0.45	ABHYX
LBHIX	-0.03	0.56	0.0	0.81	0.89		-0.24	-0.39	LBHIX
SCAXF	0.12	-0.14	0.0	-0.18	-0.28	-0.24		0.08	SCAXF
VIASP	0.03	-0.48	0.0	-0.29	-0.45	-0.39	0.08		VIASP
	QID	444859BR2	AQUI	MSTSX	ABHYX	LBHIX	SCAXF	VIASP

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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

LBHIX	+ 0.89	ABHYX
LBHIX	+ 0.81	MSTSX
ABHYX	+ 0.65	444859BR2
LBHIX	+ 0.56	444859BR2
ABHYX	+ 0.54	MSTSX
MSTSX	+ 0.33	444859BR2

High negative correlations

VIASP	- 0.48	444859BR2
VIASP	- 0.45	ABHYX
MSTSX	- 0.41	QID
VIASP	- 0.39	LBHIX
VIASP	- 0.29	MSTSX
SCAXF	- 0.28	ABHYX

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
QID	1.93	0.12	0.00	0.05	0.00	0.00	4.92	(4.92)	13.27
444859BR2	0.69	0.03	(0.05)	0.60	1.28	(0.70)	1.29	(0.93)	8.07
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.54	0.02	(0.01)	0.14	0.56	(0.62)	1.18	(0.98)	4.07
ABHYX	0.17	0.06	(0.21)	(0.48)	0.00	(0.26)	0.45	(0.34)	1.33
LBHIX	0.17	0.05	(0.17)	3.58	0.00	(0.33)	0.49	(0.24)	1.46
SCAXF	1.03	(0.63)	0.00	(0.61)	0.00	0.00	0.00	0.00	34.67
VIASP	1.64	(0.04)	(0.04)	(0.03)	2.82	(1.60)	3.41	(4.97)	13.57

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