SSO vs. AMZN

Last updated Jun 14, 2026

SSO (ProShares Ultra S&P500) is Leveraged Equities fund tracking the S&P 500, while AMZN (Amazon.com, Inc) is a stock. Over the past 10 years, SSO returned 24.02%/yr vs 20.83%/yr for AMZN. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

SSO vs. AMZN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra S&P500 (SSO) and Amazon.com, Inc (AMZN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SSO achieves a 15.08% return, which is significantly higher than AMZN's 3.35% return. Over the past 10 years, SSO has outperformed AMZN with an annualized return of 24.02%, while AMZN has yielded a comparatively lower 20.83% annualized return.

SSO

• 1D: 1.03%
• 1M: 0.12%
• YTD: 15.08%
• 6M: 15.47%
• 1Y: 47.12%
• 3Y*: 34.18%
• 5Y*: 18.57%
• 10Y*: 24.02%

AMZN

• 1D: -1.23%
• 1M: -9.69%
• YTD: 3.35%
• 6M: 5.46%
• 1Y: 12.47%
• 3Y*: 23.49%
• 5Y*: 7.35%
• 10Y*: 20.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SSO vs. AMZN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSO ProShares Ultra S&P500	15.08%	26.19%	43.48%	46.65%	-38.98%	60.57%	21.54%	63.45%	-14.60%	44.35%
AMZN Amazon.com, Inc	3.35%	5.21%	44.39%	80.88%	-49.62%	2.38%	76.26%	23.03%	28.43%	55.96%

Correlation

The correlation between SSO and AMZN is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.61

The correlation between SSO and AMZN has been stable across timeframes, ranging from 0.60 to 0.69 - a consistent structural relationship.

Return for Risk

SSO vs. AMZN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SSO

SSO Risk / Return Rank: 59
SSO Sharpe Ratio Rank: 62
SSO Sortino Ratio Rank: 55
SSO Omega Ratio Rank: 58
SSO Calmar Ratio Rank: 55
SSO Martin Ratio Rank: 66

AMZN

AMZN Risk / Return Rank: 54
AMZN Sharpe Ratio Rank: 57
AMZN Sortino Ratio Rank: 51
AMZN Omega Ratio Rank: 49
AMZN Calmar Ratio Rank: 55
AMZN Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SSO vs. AMZN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra S&P500 (SSO) and Amazon.com, Inc (AMZN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SSO	AMZN	Difference
Sharpe ratio: Return per unit of total volatility	1.79	0.40	+1.40
Sortino ratio: Return per unit of downside risk	2.33	0.76	+1.57
Omega ratio: Gain probability vs. loss probability	1.31	1.09	+0.22
Calmar ratio: Return relative to maximum drawdown	2.42	0.55	+1.87
Martin ratio: Return relative to average drawdown	10.37	1.29	+9.07

SSO vs. AMZN - Sharpe Ratio Comparison

The current SSO Sharpe Ratio is 1.79, which is higher than the AMZN Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of SSO and AMZN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SSO vs. AMZN - Drawdown Comparison

The maximum SSO drawdown since its inception was -84.67%, smaller than the maximum AMZN drawdown of -94.40%. Use the drawdown chart below to compare losses from any high point for SSO and AMZN.

Drawdown Indicators

	SSO	AMZN	Difference
Max Drawdown Largest peak-to-trough decline	-84.67%	-94.40%	+9.73%
Max Drawdown (1Y) Largest decline over 1 year	-18.17%	-21.74%	+3.57%
Max Drawdown (3Y) Largest decline over 3 years	-35.21%	-30.88%	-4.33%
Max Drawdown (5Y) Largest decline over 5 years	-46.73%	-56.15%	+9.42%
Max Drawdown (10Y) Largest decline over 10 years	-59.34%	-56.15%	-3.19%
Current Drawdown Current decline from peak	-4.94%	-13.25%	+8.31%
Average Drawdown Average peak-to-trough decline	-19.55%	-28.19%	+8.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	9.21%	-4.97%

Volatility

SSO vs. AMZN - Volatility Comparison

ProShares Ultra S&P500 (SSO) has a higher volatility of 8.74% compared to Amazon.com, Inc (AMZN) at 7.92%. This indicates that SSO's price experiences larger fluctuations and is considered to be riskier than AMZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSO	AMZN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.74%	7.92%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	19.17%	20.73%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	24.54%	30.13%	-5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.78%	35.53%	-1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.95%	32.48%	+3.47%

Dividends

SSO vs. AMZN - Dividend Comparison

SSO's dividend yield for the trailing twelve months is around 0.64%, while AMZN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZN Amazon.com, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SSO ProShares Ultra S&P500	0.64%	0.68%	0.85%	0.18%	0.50%	0.18%	0.20%	0.50%	0.75%	0.39%	0.51%	0.63%

Frequently Asked Questions

Can I hold both SSO and AMZN in my portfolio?

SSO and AMZN have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SSO or AMZN?

SSO has higher volatility (8.74%) compared to AMZN (7.92%). In terms of maximum drawdown, SSO dropped -84.67% vs AMZN's -94.40%.

Which has better risk-adjusted returns?

SSO currently has the higher Sharpe Ratio (1.79 vs 0.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.