ProShares Merger Correlations

MRGR Etf

USD 45.01 0.13 0.29%

The current 90-days correlation between ProShares Merger ETF and TrueShares Structured Outcome is -0.02 (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

Very weak diversification

The correlation between ProShares Merger ETF and DJI is 0.57 (i.e., Very weak 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 various price indices.

Moving together with ProShares Etf

0.93	MARB	First Trust Vivaldi	Pair Corr
0.84	EVNT	AltShares Event Driven	Pair Corr
0.68	QTJA	Innovator ETFs Trust	Pair Corr
0.65	QTAP	Innovator Growth 100	Pair Corr
0.73	XTJA	Innovator ETFs Trust	Pair Corr
0.69	XTAP	Innovator Equity Acc	Pair Corr
0.66	ACII	Innovator ETFs Trust	Pair Corr
0.71	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.76	XIDV	Franklin Templeton ETF	Pair Corr
0.77	SDFI	AB Active ETFs	Pair Corr
0.8	IBIC	iShares Trust	Pair Corr
0.66	FTBI	First Trust Exchange	Pair Corr
0.72	CCOR	Core Alternative ETF	Pair Corr
0.61	XUDV	Franklin Templeton ETF	Pair Corr
0.64	SPYV	SPDR Portfolio SP	Pair Corr
0.62	TMDV	ProShares Russell	Pair Corr
0.7	VSDM	VSDM	Pair Corr
0.92	FTXH	First Trust Nasdaq	Pair Corr
0.93	DOGG	First Trust Exchange	Pair Corr
0.7	GVUS	Goldman Sachs ETF	Pair Corr
0.81	HERZ	Herzfeld Creditome Symbol Change	Pair Corr
0.67	GMET	VanEck Vectors ETF	Pair Corr

Moving against ProShares Etf

0.82

SPCX

SPAC and New

Pair Corr

Related Correlations Analysis

	INOV	FSBD	BCHI	CGRO	PILL	BUYO	DTAN	QIDX	RULE	JUNZ
INOV		0.5	0.93	-0.18	0.71	0.96	0.97	0.77	0.87	0.74	INOV
FSBD	0.5		0.3	-0.72	0.72	0.49	0.46	-0.01	0.12	0.23	FSBD
BCHI	0.93	0.3		-0.06	0.59	0.9	0.87	0.79	0.93	0.71	BCHI
CGRO	-0.18	-0.72	-0.06		-0.7	-0.21	-0.12	0.23	0.19	0.19	CGRO
PILL	0.71	0.72	0.59	-0.7		0.77	0.72	0.39	0.41	0.47	PILL
BUYO	0.96	0.49	0.9	-0.21	0.77		0.95	0.82	0.87	0.76	BUYO
DTAN	0.97	0.46	0.87	-0.12	0.72	0.95		0.8	0.82	0.79	DTAN
QIDX	0.77	-0.01	0.79	0.23	0.39	0.82	0.8		0.88	0.72	QIDX
RULE	0.87	0.12	0.93	0.19	0.41	0.87	0.82	0.88		0.76	RULE
JUNZ	0.74	0.23	0.71	0.19	0.47	0.76	0.79	0.72	0.76		JUNZ
	INOV	FSBD	BCHI	CGRO	PILL	BUYO	DTAN	QIDX	RULE	JUNZ

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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

DTAN	+ 0.97	INOV
BUYO	+ 0.96	INOV
DTAN	+ 0.95	BUYO
BCHI	+ 0.93	INOV
RULE	+ 0.93	BCHI
BUYO	+ 0.9	BCHI

High negative correlations

CGRO	- 0.72	FSBD
PILL	- 0.7	CGRO
BUYO	- 0.21	CGRO
CGRO	- 0.18	INOV
DTAN	- 0.12	CGRO
CGRO	- 0.06	BCHI

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
INOV	0.31	0.04	0.01	0.17	0.30	(0.35)	0.81	(0.79)	1.81
FSBD	0.21	0.02	(0.20)	0.51	0.13	(0.28)	0.67	(0.38)	1.33
BCHI	0.62	0.12	0.11	0.28	0.62	(0.65)	1.56	(1.18)	3.45
CGRO	0.97	(0.16)	0.00	(0.14)	0.00	0.00	1.72	(1.92)	5.57
PILL	3.11	0.54	0.18	0.60	2.67	(4.01)	7.91	(5.00)	16.20
BUYO	0.79	0.06	0.07	0.12	0.84	(0.85)	1.69	(1.53)	4.08
DTAN	0.59	0.03	0.02	0.10	0.71	(0.61)	1.28	(1.13)	4.05
QIDX	0.53	(0.03)	(0.06)	0.03	0.64	(0.56)	1.21	(1.12)	3.12
RULE	0.87	0.05	0.04	0.11	1.16	(0.88)	1.76	(2.41)	5.22
JUNZ	0.46	(0.03)	(0.06)	0.03	0.70	(0.43)	1.01	(1.19)	3.23

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