MBIN vs. PGR
MBIN (Merchants Bancorp) and PGR (The Progressive Corporation) are both stocks. Both are in the Financial Services sector — MBIN in Banks - Regional, PGR in Insurance - Property & Casualty. Over the past 5 years, MBIN returned 18.93%/yr vs 19.95%/yr for PGR. Their 0.18 correlation means their historical movements had little consistent relationship.
Performance
MBIN vs. PGR - Performance Comparison
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Returns By Period
In the year-to-date period, MBIN achieves a 62.79% return, which is significantly higher than PGR's -1.17% return.
MBIN
- 1D
- -0.59%
- 1M
- 13.03%
- 6M
- 33.73%
- YTD
- 62.79%
- 1Y
- 91.12%
- 3Y*
- 21.56%
- 5Y*
- 18.93%
- 10Y*
- —
- ALL TIME*
- 21.19%
PGR
- 1D
- -0.87%
- 1M
- -8.96%
- 6M
- 1.74%
- YTD
- -1.17%
- 1Y
- -6.61%
- 3Y*
- 21.99%
- 5Y*
- 19.95%
- 10Y*
- 23.97%
- ALL TIME*
- 16.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.24M | $8.41M | $7.85M | |
| $553.97M | $662.84M | $690.26M |
MBIN vs. PGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBIN Merchants Bancorp | 62.79% | -5.51% | -13.59% | 77.01% | -22.06% | 72.80% | 42.55% | 0.30% | 2.43% | 16.05% |
PGR The Progressive Corporation | -1.17% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 14.59% |
Correlation
The correlation between MBIN and PGR is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.18 |
Fundamentals
MBIN:
$2.53B
PGR:
$122.92B
MBIN:
$5.84
PGR:
$19.67
MBIN:
9.45
PGR:
10.75
MBIN:
2.01
PGR:
1.39
MBIN:
$1.26B
PGR:
$89.43B
MBIN:
$298.10M
PGR:
$25.44B
MBIN:
$141.76M
PGR:
$15.15B
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Return for Risk
MBIN vs. PGR — Risk / Return Rank
MBIN
PGR
MBIN vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Merchants Bancorp (MBIN) and The Progressive Corporation (PGR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MBIN | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.83 | ||
| Sortino ratioReturn per unit of downside risk | +3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 0.97 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 6.83 | -0.35 | +7.19 |
| Martin ratioReturn relative to average drawdown | 16.55 | -0.59 | +17.14 |
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Drawdowns
MBIN vs. PGR - Drawdown Comparison
The maximum MBIN drawdown since its inception was -53.77%, smaller than the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for MBIN and PGR.
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Drawdown Indicators
| MBIN | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.77% | -71.06% | +17.29% |
Max Drawdown (1Y)Largest decline over 1 year | -13.30% | -19.79% | +6.49% |
Max Drawdown (3Y)Largest decline over 3 years | -43.94% | -30.35% | -13.59% |
Max Drawdown (5Y)Largest decline over 5 years | -43.94% | -30.35% | -13.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.35% | — |
Current DrawdownCurrent decline from peak | -0.59% | -22.63% | +22.04% |
Average DrawdownAverage peak-to-trough decline | -19.65% | -14.55% | -5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.48% | 11.87% | -6.39% |
Volatility
MBIN vs. PGR - Volatility Comparison
Merchants Bancorp (MBIN) and The Progressive Corporation (PGR) have volatilities of 13.20% and 13.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBIN | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.20% | 13.17% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 23.83% | 20.69% | +3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.95% | 25.68% | +10.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.06% | 25.26% | +10.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.17% | 24.85% | +15.32% |
Dividends
MBIN vs. PGR - Dividend Comparison
MBIN's dividend yield for the trailing twelve months is around 0.76%, less than PGR's 6.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MBIN Merchants Bancorp | 0.76% | 1.17% | 0.99% | 0.75% | 1.15% | 0.76% | 1.16% | 1.42% | 1.20% | 0.25% | 0.00% | 0.00% |
PGR The Progressive Corporation | 6.57% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
Financials
MBIN vs. PGR - Financials Comparison
This section allows you to compare key financial metrics between Merchants Bancorp and The Progressive Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MBIN vs. PGR - Profitability Comparison
MBIN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Merchants Bancorp reported a gross profit of -159.95M and revenue of 247.47M. Therefore, the gross margin over that period was -64.6%.
PGR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, The Progressive Corporation reported a gross profit of 8.35B and revenue of 22.18B. Therefore, the gross margin over that period was 37.7%.
MBIN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Merchants Bancorp reported an operating income of -84.31M and revenue of 247.47M, resulting in an operating margin of -34.1%.
PGR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, The Progressive Corporation reported an operating income of 3.57B and revenue of 22.18B, resulting in an operating margin of 16.1%.
MBIN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Merchants Bancorp reported a net income of 78.30M and revenue of 247.47M, resulting in a net margin of 31.6%.
PGR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, The Progressive Corporation reported a net income of 2.82B and revenue of 22.18B, resulting in a net margin of 12.7%.
Frequently Asked Questions
MBIN and PGR have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBIN has higher volatility (13.20%) compared to PGR (13.17%). In terms of maximum drawdown, MBIN dropped -53.77% vs PGR's -71.06%.
MBIN currently has the higher Sharpe Ratio (2.56 vs -0.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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