IQ MacKay Correlations
MMIN Etf | USD 24.36 0.09 0.37% |
The current 90-days correlation between IQ MacKay Municipal and IQ MacKay Municipal is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IQ MacKay moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IQ MacKay Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
IQ MacKay Correlation With Market
Very good diversification
The correlation between IQ MacKay Municipal and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IQ MacKay Municipal and DJI in the same portfolio, assuming nothing else is changed.
MMIN |
Moving together with MMIN Etf
0.96 | TFI | SPDR Nuveen Bloomberg | PairCorr |
0.96 | PZA | Invesco National AMT | PairCorr |
0.97 | MLN | VanEck Long Muni | PairCorr |
0.93 | RVNU | Xtrackers Municipal | PairCorr |
0.95 | FLMB | Franklin Liberty Federal | PairCorr |
0.97 | SMI | VanEck Vectors ETF | PairCorr |
0.86 | RTAI | Rareview Tax Advantaged Low Volatility | PairCorr |
0.82 | OVM | Overlay Shares Municipal | PairCorr |
0.78 | VZ | Verizon Communications Aggressive Push | PairCorr |
Moving against MMIN Etf
0.51 | NVDX | T Rex 2X | PairCorr |
0.51 | NVDL | GraniteShares 15x Long | PairCorr |
0.51 | NVDU | Direxion Daily NVDA | PairCorr |
0.46 | USD | ProShares Ultra Semi | PairCorr |
0.34 | HPQ | HP Inc | PairCorr |
0.31 | CSCO | Cisco Systems Aggressive Push | PairCorr |
Related Correlations Analysis
0.93 | 0.88 | 0.96 | 0.04 | MMIT | ||
0.93 | 0.88 | 0.95 | 0.22 | FLMB | ||
0.88 | 0.88 | 0.88 | 0.31 | MUST | ||
0.96 | 0.95 | 0.88 | 0.08 | HMOP | ||
0.04 | 0.22 | 0.31 | 0.08 | MEAR | ||
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
IQ MacKay Constituents Risk-Adjusted Indicators
There is a big difference between MMIN Etf performing well and IQ MacKay 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 IQ MacKay'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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
MMIT | 0.15 | 0.01 | (0.40) | (0.02) | 0.20 | 0.37 | 1.45 | |||
FLMB | 0.23 | 0.04 | (0.25) | (0.13) | 0.28 | 0.50 | 2.08 | |||
MUST | 0.31 | 0.02 | (0.25) | (1.16) | 0.34 | 0.64 | 2.34 | |||
HMOP | 0.16 | 0.02 | (0.36) | (0.13) | 0.24 | 0.33 | 1.34 | |||
MEAR | 0.05 | 0.00 | (1.49) | 0.10 | 0.00 | 0.10 | 0.32 |