ProShares Ultra Correlations

SSO Etf  USD 82.05  0.06  0.07%   
The current 90-days correlation between ProShares Ultra SP500 and ProShares UltraPro Short is -0.94 (i.e., Pay attention - limited upside). 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.

ProShares Ultra Correlation With Market

Very poor diversification

The correlation between ProShares Ultra SP500 and NYA is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra SP500 and NYA in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Ultra SP500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

  1.0SPXL Direxion Daily SP500PairCorr
  0.95QLD ProShares Ultra QQQPairCorr
  1.0UPRO ProShares UltraPro SP500PairCorr
  0.88TECL Direxion Daily Technology TrendingPairCorr
  0.9FNGU MicroSectors FANG Index TrendingPairCorr
  0.99VTI Vanguard Total StockPairCorr
  0.99SPY SPDR SP 500 Aggressive PushPairCorr
  0.99IVV iShares Core SPPairCorr
  0.75BND Vanguard Total BondPairCorr
  0.79VTV Vanguard Value IndexPairCorr
  0.96VUG Vanguard Growth IndexPairCorr
  0.73VO Vanguard Mid CapPairCorr
  0.86VEA Vanguard FTSE DevelopedPairCorr
  0.61VB Vanguard Small CapPairCorr
  0.73PFE Pfizer Inc Financial Report 6th of August 2024 PairCorr
  0.82HPQ HP Inc Fiscal Year End 19th of November 2024 PairCorr
  0.78T ATT Inc Earnings Call This WeekPairCorr
  0.71BAC Bank of America Financial Report 16th of July 2024 PairCorr
  0.8WMT WalmartPairCorr

Moving against ProShares Etf

  0.52MCD McDonalds Sell-off TrendPairCorr
  0.48DIS Walt Disney Financial Report 14th of August 2024 PairCorr

Related Correlations Analysis

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