IndexIQ ETF Correlations

CLNR Etf

USD 22.94 0.01 0.04%

The current 90-days correlation between IndexIQ ETF Trust and Materials Select Sector is 0.64 (i.e., Poor diversification). The correlation of IndexIQ ETF 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.

IndexIQ ETF Correlation With Market

Very weak diversification

The correlation between IndexIQ ETF Trust and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IndexIQ ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in IndexIQ ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

To learn how to invest in IndexIQ Etf, please use our How to Invest in IndexIQ ETF guide.

Moving together with IndexIQ Etf

0.64	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.86	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.65	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against IndexIQ Etf

0.33	DRVN	Driven Brands Holdings	Pair Corr
0.32	XTOC	Innovator ETFs Trust	Pair Corr
0.31	QTOC	Innovator ETFs Trust	Pair Corr
0.42	BAC	Bank of America Aggressive Push	Pair Corr
0.33	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.31	DIS	Walt Disney Aggressive Push	Pair Corr

Related Correlations Analysis

	XLB	XLY	XLP	XLV	XLU
XLB		0.21	0.0	0.07	0.67	XLB
XLY	0.21		-0.52	-0.82	0.55	XLY
XLP	0.0	-0.52		0.72	-0.07	XLP
XLV	0.07	-0.82	0.72		-0.4	XLV
XLU	0.67	0.55	-0.07	-0.4		XLU
	XLB	XLY	XLP	XLV	XLU

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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

XLV	+ 0.72	XLP
XLU	+ 0.67	XLB
XLU	+ 0.55	XLY
XLY	+ 0.21	XLB
XLV	+ 0.07	XLB
XLP	+ 0.0	XLB

High negative correlations

XLV	- 0.82	XLY
XLP	- 0.52	XLY
XLU	- 0.4	XLV
XLU	- 0.07	XLP
XLP	- 0.0	XLB

IndexIQ ETF Constituents Risk-Adjusted Indicators

There is a big difference between IndexIQ Etf performing well and IndexIQ ETF 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 ETF'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
XLB	0.70	(0.07)	(0.12)	0.03	0.82	(0.70)	1.37	(1.27)	3.77
XLY	0.87	0.14	0.14	0.26	0.69	(1.01)	2.02	(1.53)	4.68
XLP	0.50	(0.01)	(0.18)	0.04	0.63	(0.50)	0.79	(0.99)	2.42
XLV	0.54	(0.16)	0.00	(0.18)	0.00	0.00	0.80	(1.37)	2.88
XLU	0.79	0.12	0.02	0.73	0.83	(0.87)	1.74	(1.48)	4.95

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