ProShares Merger Correlations

Etfs . USA . 
Etf . ProShares Merger ETF
MRGR Etf  USD 41.82  0.05  0.12%   
The current 90-days correlation between ProShares Merger ETF and ProShares Hedge Replication is 0.38 (i.e., Weak 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

Weak diversification

The correlation between ProShares Merger ETF and DJI is 0.37 (i.e., 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.
  
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

  0.88MNA IQ Merger ArbitragePairCorr
  0.97ARB AltShares TrustPairCorr
  0.66SPCX SPAC and NewPairCorr
  0.91EVNT AltShares Event DrivenPairCorr
  0.79GDXU MicroSectors Gold MinersPairCorr
  0.8CSCO Cisco SystemsPairCorr
  0.81T ATT Inc Earnings Call TodayPairCorr
  0.75IBM International BusinessPairCorr
  0.77CVX Chevron Corp Sell-off TrendPairCorr
  0.91MMM 3M CompanyPairCorr
  0.89GE GE AerospacePairCorr
  0.66VZ Verizon CommunicationsPairCorr

Moving against ProShares Etf

  0.34UPRO ProShares UltraPro SP500PairCorr
  0.75MSFT MicrosoftPairCorr
  0.64MRK Merck CompanyPairCorr
  0.45HPQ HP IncPairCorr
  0.44CAT CaterpillarPairCorr

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   
PEX
+ 0.9
HDG
TOLZ
+ 0.86
MNA
IGHG
+ 0.62
HDG
IGHG
+ 0.58
PEX
TOLZ
+ 0.25
PEX
PEX
+ 0.19
MNA
  
High negative correlations   
IGHG
- 0.24
MNA
TOLZ
- 0.2
IGHG

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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