ProShares Merger Correlations

MRGR Etf

USD 44.77 0.06 0.13%

The current 90-days correlation between ProShares Merger ETF and TrueShares Structured Outcome is 0.25 (i.e., Modest 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

Poor diversification

The correlation between ProShares Merger ETF and DJI is 0.7 (i.e., Poor 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 census.

Moving together with ProShares Etf

0.69	MNA	IQ Merger Arbitrage	Pair Corr
0.78	MARB	First Trust Vivaldi	Pair Corr
0.74	CEFS	Saba Closed End	Pair Corr
0.65	ARB	AltShares Trust	Pair Corr
0.83	EVNT	AltShares Event Driven	Pair Corr
0.7	VTI	Vanguard Total Stock	Pair Corr
0.66	SPY	SPDR SP 500	Pair Corr
0.66	IVV	iShares Core SP	Pair Corr
0.73	VTV	Vanguard Value Index	Pair Corr
0.76	VO	Vanguard Mid Cap	Pair Corr
0.73	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.82	VB	Vanguard Small Cap	Pair Corr
0.68	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.76	VGUS	Vanguard Ultra Short	Pair Corr
0.7	NBCE	Neuberger Berman ETF	Pair Corr
0.77	PFF	iShares Preferred	Pair Corr
0.79	XYLD	Global X SP	Pair Corr
0.75	UMAY	Innovator ETFs Trust	Pair Corr
0.66	LSEQ	Harbor ETF Trust	Pair Corr
0.78	JANW	AIM ETF Products	Pair Corr
0.74	FIDU	Fidelity MSCI Industrials	Pair Corr
0.7	DFSD	Dimensional ETF Trust	Pair Corr
0.76	IAUM	iShares Gold Trust	Pair Corr
0.71	EWT	iShares MSCI Taiwan	Pair Corr
0.76	BSMS	Invesco BulletShares 2028	Pair Corr
0.62	FHLC	Fidelity MSCI Health	Pair Corr
0.73	WLDR	Affinity World Leaders	Pair Corr
0.66	LVHI	Franklin International	Pair Corr
0.66	QLV	FlexShares Quality Low	Pair Corr
0.77	CHPS	Xtrackers Semiconductor	Pair Corr
0.69	NCPB	Nuveen Core Plus	Pair Corr
0.83	ESML	iShares ESG Aware	Pair Corr

Related Correlations Analysis

	INOV	FSBD	BCHI	CGRO	PILL	BUYO	DTAN	QIDX	RULE	JUNZ
INOV		0.59	0.97	-0.24	0.6	0.89	0.98	0.95	0.96	0.7	INOV
FSBD	0.59		0.57	-0.11	0.78	0.76	0.64	0.68	0.57	0.66	FSBD
BCHI	0.97	0.57		-0.31	0.54	0.84	0.93	0.93	0.96	0.61	BCHI
CGRO	-0.24	-0.11	-0.31		-0.34	-0.04	-0.21	-0.18	-0.16	0.21	CGRO
PILL	0.6	0.78	0.54	-0.34		0.75	0.68	0.63	0.52	0.6	PILL
BUYO	0.89	0.76	0.84	-0.04	0.75		0.91	0.94	0.89	0.83	BUYO
DTAN	0.98	0.64	0.93	-0.21	0.68	0.91		0.93	0.9	0.73	DTAN
QIDX	0.95	0.68	0.93	-0.18	0.63	0.94	0.93		0.96	0.76	QIDX
RULE	0.96	0.57	0.96	-0.16	0.52	0.89	0.9	0.96		0.72	RULE
JUNZ	0.7	0.66	0.61	0.21	0.6	0.83	0.73	0.76	0.72		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	+ 0.98	INOV
BCHI	+ 0.97	INOV
RULE	+ 0.96	INOV
RULE	+ 0.96	BCHI
RULE	+ 0.96	QIDX
QIDX	+ 0.95	INOV

High negative correlations

PILL	- 0.34	CGRO
CGRO	- 0.31	BCHI
CGRO	- 0.24	INOV
DTAN	- 0.21	CGRO
QIDX	- 0.18	CGRO
RULE	- 0.16	CGRO

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	0.37	0.06	0.06	0.21	0.29	(0.43)	0.85	(0.81)	1.94
FSBD	0.21	0.02	(0.17)	0.24	0.13	(0.28)	0.67	(0.38)	1.33
BCHI	0.66	0.19	0.22	0.44	0.41	(0.75)	1.70	(1.18)	3.37
CGRO	0.89	(0.19)	0.00	(0.21)	0.00	0.00	2.23	(1.87)	5.90
PILL	3.30	0.54	0.18	0.41	2.95	(4.13)	8.03	(5.93)	17.28
BUYO	0.84	0.02	0.03	0.08	0.89	(0.91)	1.73	(1.74)	5.50
DTAN	0.64	0.09	0.09	0.18	0.71	(0.66)	1.37	(1.28)	4.05
QIDX	0.56	0.03	0.01	0.09	0.59	(0.66)	1.35	(1.07)	3.32
RULE	1.00	0.06	0.04	0.12	1.34	(1.00)	1.96	(2.57)	5.67
JUNZ	0.49	(0.06)	0.00	(0.02)	0.00	0.00	0.71	(1.40)	3.24

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