IndexIQ Correlations

CPI Etf  USD 25.76  0.00  0.00%   
The current 90-days correlation between IndexIQ and IQ Hedge Multi Strategy is -0.08 (i.e., Good diversification). The correlation of IndexIQ 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.

IndexIQ Correlation With Market

Good diversification

The correlation between IndexIQ and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IndexIQ and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with IndexIQ Etf

  0.78USD ProShares Ultra SemiPairCorr
  0.83FNGU MicroSectors FANG Index Sell-off TrendPairCorr
  0.83BULZ MicroSectors SolactivePairCorr
  0.79NVDY YieldMax NVDA OptionPairCorr
  0.77DXJ WisdomTree Japan HedgedPairCorr
  0.74FTSD Franklin Liberty ShortPairCorr
  0.79QQQ Invesco QQQ TrustPairCorr
  0.8VUG Vanguard Growth IndexPairCorr
  0.7IBOT VanEck Robotics ETFPairCorr
  0.75SPY SPDR SP 500PairCorr
  0.62NERD Roundhill Video GamesPairCorr
  0.66SPSK SP Funds DowPairCorr
  0.75VOO Vanguard SP 500PairCorr
  0.7MSFO YieldMax MSFT OptionPairCorr
  0.79TSLY Tidal Trust II Potential GrowthPairCorr
  0.74ACVF ETF Opportunities TrustPairCorr
  0.67UNIY WisdomTree Voya YieldPairCorr
  0.76METV Roundhill Ball MetaversePairCorr
  0.78VEGN US Vegan ClimatePairCorr
  0.8QTR Global X NASDAQPairCorr

Moving against IndexIQ Etf

  0.62BDRY Breakwave Dry BulkPairCorr
  0.54XSHQ Invesco SP SmallCap Low VolatilityPairCorr
  0.46NOBL ProShares SP 500 Low VolatilityPairCorr
  0.37RWJ Invesco SP SmallCapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
LBHIXABHYX
LBHIXQAI
MNAQAI
MSTSXQAI
LBHIX444859BR2
ABHYX444859BR2
  
High negative correlations   
SCAXFBRRAY
VIASPAQUI
SCAXFAQUI
LBHIXAQUI
ABHYXAQUI
MSTSXAQUI

IndexIQ Constituents Risk-Adjusted Indicators

There is a big difference between IndexIQ Etf performing well and IndexIQ 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 IndexIQ'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
QAI  0.23  0.01 (0.06) 0.07  0.22 
 0.49 
 1.13 
MNA  0.27  0.01 (0.06) 0.09  0.29 
 0.49 
 1.29 
444859BR2  0.45  0.03 (0.02)(0.56) 0.54 
 1.12 
 2.67 
AQUI  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BRRAY  2.12  0.21  0.04  0.24  2.82 
 6.37 
 41.85 
MSTSX  0.47  0.03  0.03  0.08  0.67 
 0.90 
 2.79 
ABHYX  0.18  0.03  0.01  0.68  0.00 
 0.45 
 0.92 
LBHIX  0.18  0.03 (0.01) 0.54  0.00 
 0.49 
 0.98 
SCAXF  4.43  1.99  0.00 (0.21) 0.00 
 0.00 
 182.60 
VIASP  1.69 (0.10) 0.00  0.26  0.00 
 4.33 
 16.82 

IndexIQ Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with IndexIQ etf to make a market-neutral strategy. Peer analysis of IndexIQ could also be used in its relative valuation, which is a method of valuing IndexIQ by comparing valuation metrics with similar companies.
 Risk & Return  Correlation