ProShares Merger Correlations

Etfs . USA . 
Etf . ProShares Merger ETF
MRGR Etf  USD 42.99  0.04  0.09%   
The current 90-days correlation between ProShares Merger ETF and ProShares Hedge Replication is 0.06 (i.e., Significant diversification). The correlation of ProShares Merger 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Merger Correlation With Market

Average diversification

The correlation between ProShares Merger ETF and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Merger ETF and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Merger ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with ProShares Etf

  0.91MNA IQ Merger ArbitragePairCorr
  0.67MARB First Trust VivaldiPairCorr
  0.76ARB AltShares TrustPairCorr
  0.71HUM Humana IncPairCorr
  0.61DUKH Ocean Park HighPairCorr
  0.62SPYD SPDR Portfolio SPPairCorr
  0.61ZPRVF SSgA SPDR ETFsPairCorr
  0.7FTSM First Trust EnhancedPairCorr
  0.64BIV Vanguard Intermediate Sell-off TrendPairCorr
  0.72HCMAX THE HILLMAN FUNDPairCorr
  0.61XDEC First Trust ExchangePairCorr
  0.88XLG Invesco SP 500PairCorr
  0.63FLQM Franklin LibertyQ MidPairCorr
  0.69VABS Virtus Newfleet ABSMBSPairCorr
  0.63DDEC First Trust ExchangePairCorr
  0.73UCC ProShares Ultra ConsumerPairCorr
  0.62DMAY First Trust ExchangePairCorr
  0.64VCIT Vanguard Intermediate Sell-off TrendPairCorr
  0.88EYEG AB Corporate BondPairCorr

Moving against ProShares Etf

  0.66SPCX SPAC and NewPairCorr
  0.66XMMEF Xtrackers PublicPairCorr
  0.48FNGD MicroSectors FANG Index Buyout TrendPairCorr

Related Correlations Analysis


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

IGHG
+ 0.95
HDG
MNA
+ 0.7
HDG
IGHG
+ 0.68
MNA
TOLZ
+ 0.57
IGHG
TOLZ
+ 0.56
HDG
TOLZ
+ 0.53
MNA
  

High negative correlations

TOLZ
- 0.0
PEX

ProShares Merger Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Merger 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 Merger'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.

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