MERC vs PROP: Correlation
Mercer International Inc. (MERC) and Prairie Operating Co. (PROP) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MERC and PROP?
On 3 years of weekly data the MERC/PROP correlation comes out at 0.32, moderate. Recent behaviour matches the longer record: 0.31 over 1 year against 0.32 over 3. The 5-year figure is 0.26, and annualized covariance runs at 2052.7 %².
Within MERC's tracked universe of 11 assets, PROP comes in at #6 by 3-year correlation. The trailing year gives PROP the advantage: -88.0% versus -78.5%, a 9.5-point spread. Note the risk asymmetry: PROP runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MERC vs PROP: side by side
| MERC (Mercer International Inc.) | PROP (Prairie Operating Co.) | |
|---|---|---|
| 1-year return | -88.0% | -78.5% |
| 5-year return | -96.1% | -99.1% |
| Volatility (ann.) | 63.1% | 101.6% |
| Beta vs S&P 500 | 1.38 | 1.03 |
| Max drawdown (3Y) | -96.2% | -97.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MERC | PROP |
|---|---|---|
| 2022 | -0.6% | -98.2% |
| 2023 | -15.7% | +498.8% |
| 2024 | -28.7% | -27.2% |
| 2025 | -68.5% | -75.6% |
| 2026 | -80.3% | -68.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MERC and PROP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MERC and PROP?
The MERC/PROP correlation stands at 0.32 on a 3-year window (1 year: 0.31, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is PROP a good diversifier for MERC?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: MERC correlations · PROP correlations
