Correlation Between ProShares Metaverse and WisdomTree MidCap
Can any of the company-specific risk be diversified away by investing in both ProShares Metaverse and WisdomTree MidCap at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining ProShares Metaverse and WisdomTree MidCap into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ProShares Metaverse ETF and WisdomTree MidCap Quality, you can compare the effects of market volatilities on ProShares Metaverse and WisdomTree MidCap and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in ProShares Metaverse with a short position of WisdomTree MidCap. Check out your portfolio center. Please also check ongoing floating volatility patterns of ProShares Metaverse and WisdomTree MidCap.
Diversification Opportunities for ProShares Metaverse and WisdomTree MidCap
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between ProShares and WisdomTree is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Metaverse ETF and WisdomTree MidCap Quality in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree MidCap Quality and ProShares Metaverse is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on ProShares Metaverse ETF are associated (or correlated) with WisdomTree MidCap. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree MidCap Quality has no effect on the direction of ProShares Metaverse i.e., ProShares Metaverse and WisdomTree MidCap go up and down completely randomly.
Pair Corralation between ProShares Metaverse and WisdomTree MidCap
Given the investment horizon of 90 days ProShares Metaverse ETF is expected to under-perform the WisdomTree MidCap. In addition to that, ProShares Metaverse is 2.02 times more volatile than WisdomTree MidCap Quality. It trades about -0.09 of its total potential returns per unit of risk. WisdomTree MidCap Quality is currently generating about 0.01 per unit of volatility. If you would invest 2,872 in WisdomTree MidCap Quality on December 5, 2025 and sell it today you would earn a total of 7.44 from holding WisdomTree MidCap Quality or generate 0.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ProShares Metaverse ETF vs. WisdomTree MidCap Quality
Performance |
| Timeline |
| ProShares Metaverse ETF |
| WisdomTree MidCap Quality |
ProShares Metaverse and WisdomTree MidCap Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ProShares Metaverse and WisdomTree MidCap
The main advantage of trading using opposite ProShares Metaverse and WisdomTree MidCap positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ProShares Metaverse position performs unexpectedly, WisdomTree MidCap can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in WisdomTree MidCap will offset losses from the drop in WisdomTree MidCap's long position.| ProShares Metaverse vs. Advisor Managed Portfolios | ProShares Metaverse vs. CYBER HORNET SP | ProShares Metaverse vs. Gammaroad Market Navigation | ProShares Metaverse vs. DBX ETF Trust |
| WisdomTree MidCap vs. DBX ETF Trust | WisdomTree MidCap vs. CYBER HORNET SP | WisdomTree MidCap vs. IndexIQ Active ETF | WisdomTree MidCap vs. ProShares Metaverse ETF |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Other Complementary Tools
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |