This morning SKF set a new 52 week low of 53.89. Why then isn't UYG breaking through it's 52 week high price of 75.79? It's far from it at less than 49. I know that there's slippage going on with both. Does that alone account for the discrepancy?
Follow the math. If the daily rate of change in the underlying financial index on day i is r (e.g. 2% = .02), then UYG each day is determined as UYG(i) = UYG(i-1) x (1+2r}, and SKF(i) = SKF(i-1) x (1-2r). These are geometric products and likely will not reach their maximum and minumums in any 52 week period at the same time.