UGL vs. TSLA
UGL (ProShares Ultra Gold) is Leveraged Commodities fund tracking the Bloomberg Gold Subindex (200%), while TSLA (Tesla, Inc.) is a stock. Over the past 10 years, UGL returned 16.37%/yr vs 39.72%/yr for TSLA. At a 0.02 correlation, their price movements are largely independent.
Performance
UGL vs. TSLA - Performance Comparison
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Returns By Period
In the year-to-date period, UGL achieves a -12.66% return, which is significantly lower than TSLA's -9.63% return. Over the past 10 years, UGL has underperformed TSLA with an annualized return of 16.37%, while TSLA has yielded a comparatively higher 39.72% annualized return.
UGL
- 1D
- 0.08%
- 1M
- -20.27%
- YTD
- -12.66%
- 6M
- -12.99%
- 1Y
- 32.76%
- 3Y*
- 47.90%
- 5Y*
- 24.60%
- 10Y*
- 16.37%
TSLA
- 1D
- 1.82%
- 1M
- -8.72%
- YTD
- -9.63%
- 6M
- -11.45%
- 1Y
- 27.36%
- 3Y*
- 16.25%
- 5Y*
- 14.86%
- 10Y*
- 39.72%
UGL vs. TSLA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UGL ProShares Ultra Gold | -12.66% | 137.57% | 46.36% | 15.56% | -7.59% | -12.30% | 39.04% | 31.11% | -8.02% | 22.50% |
TSLA Tesla, Inc. | -9.63% | 11.36% | 62.52% | 101.72% | -65.03% | 49.76% | 743.44% | 25.70% | 6.89% | 45.70% |
Correlation
The correlation between UGL and TSLA is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2010 | 0.02 |
The correlation between UGL and TSLA shifts across timeframes, from 0.02 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UGL vs. TSLA — Risk / Return Rank
UGL
TSLA
UGL vs. TSLA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Gold (UGL) and Tesla, Inc. (TSLA). 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.
| UGL | TSLA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.13 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.92 | -0.21 |
| Martin ratioReturn relative to average drawdown | 1.85 | 2.10 | -0.25 |
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Drawdowns
UGL vs. TSLA - Drawdown Comparison
The maximum UGL drawdown since its inception was -75.93%, roughly equal to the maximum TSLA drawdown of -73.63%. Use the drawdown chart below to compare losses from any high point for UGL and TSLA.
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Drawdown Indicators
| UGL | TSLA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.93% | -73.63% | -2.30% |
Max Drawdown (1Y)Largest decline over 1 year | -46.64% | -29.93% | -16.71% |
Max Drawdown (3Y)Largest decline over 3 years | -46.64% | -53.77% | +7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -46.64% | -73.63% | +26.99% |
Max Drawdown (10Y)Largest decline over 10 years | -46.64% | -73.63% | +26.99% |
Current DrawdownCurrent decline from peak | -43.37% | -17.03% | -26.34% |
Average DrawdownAverage peak-to-trough decline | -43.62% | -22.72% | -20.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.76% | 13.06% | +4.70% |
Volatility
UGL vs. TSLA - Volatility Comparison
ProShares Ultra Gold (UGL) has a higher volatility of 15.51% compared to Tesla, Inc. (TSLA) at 14.25%. This indicates that UGL's price experiences larger fluctuations and is considered to be riskier than TSLA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UGL | TSLA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.51% | 14.25% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 48.64% | 28.73% | +19.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.39% | 44.49% | +9.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.61% | 58.98% | -22.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.58% | 59.14% | -26.56% |
Dividends
UGL vs. TSLA - Dividend Comparison
Neither UGL nor TSLA has paid dividends to shareholders.
Frequently Asked Questions
UGL and TSLA have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UGL has higher volatility (15.51%) compared to TSLA (14.25%). In terms of maximum drawdown, UGL dropped -75.93% vs TSLA's -73.63%.
TSLA currently has the higher Sharpe Ratio (0.62 vs 0.61), 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.
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