ProShares Merger Correlations

Etfs . USA . 
Etf . ProShares Merger ETF
MRGR Etf  USD 42.22  0.13  0.31%   
The current 90-days correlation between ProShares Merger ETF and Albany International is -0.06 (i.e., Good 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.
  
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 price.

Moving together with ProShares Etf

  0.89ARB AltShares TrustPairCorr
  0.85EVNT AltShares Event DrivenPairCorr
  0.69MAPP Harbor ETF TrustPairCorr
  0.73EVUS iShares ESG AwarePairCorr
  0.69EOS Eaton Vance EnhancedPairCorr
  0.83IDGT iShares Trust Symbol ChangePairCorr
  0.75DIVB iShares DividendPairCorr
  0.7DIVG Invesco Exchange TradedPairCorr
  0.71SPY SPDR SP 500 Aggressive PushPairCorr
  0.65MAGS Roundhill MagnificentPairCorr
  0.71OEF iShares SP 100PairCorr
  0.69VTI Vanguard Total StockPairCorr
  0.74IDU iShares Utilities ETFPairCorr
  0.69XLK Technology Select SectorPairCorr
  0.71VOO Vanguard SP 500PairCorr
  0.67XLC Communication Services Sell-off TrendPairCorr
  0.71FDN First Trust DowPairCorr
  0.72PUTW WisdomTree CBOE SPPairCorr

Moving against ProShares Etf

  0.56HART IQ Healthy HeartsPairCorr
  0.53BITI ProShares TrustPairCorr
  0.32GREI Goldman Sachs FuturePairCorr

Related Correlations Analysis

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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   
ATR
+ 0.95
AKR
AIT
+ 0.89
ATR
AIT
+ 0.88
AKR
HHS
+ 0.15
AIN
  
High negative correlations   
HHS
- 0.74
AIT
HHS
- 0.66
AKR
ATR
- 0.6
AIN
HHS
- 0.58
ATR
AKR
- 0.57
AIN
AIT
- 0.3
AIN

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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