IndexIQ Correlations

CLRG Etf

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The current 90-days correlation between IndexIQ and IndexIQ is 0.76 (i.e., Poor 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

Average diversification

The correlation between IndexIQ and DJI is 0.14 (i.e., Average 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 metropolitan statistical area.

Moving together with IndexIQ Etf

0.66	VTI	Vanguard Total Stock	Pair Corr
0.62	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.63	IVV	iShares Core SP	Pair Corr
0.64	VV	Vanguard Large Cap	Pair Corr
0.62	RSP	Invesco SP 500 Sell-off Trend	Pair Corr
0.65	IWB	iShares Russell 1000	Pair Corr
0.63	ESGU	iShares ESG Aware	Pair Corr
0.67	DFAC	Dimensional Core Equity Sell-off Trend	Pair Corr
0.63	SPLG	SPDR Portfolio SP	Pair Corr
0.8	CRPT	First Trust SkyBridge	Pair Corr
0.82	BITX	Volatility Shares Trust Upward Rally	Pair Corr
0.81	CONL	GraniteShares ETF Trust Upward Rally	Pair Corr
0.81	DAPP	VanEck Digital Trans	Pair Corr
0.85	DPST	Direxion Daily Regional	Pair Corr
0.78	WGMI	Valkyrie Bitcoin Miners Upward Rally	Pair Corr
0.86	BAC	Bank of America Aggressive Push	Pair Corr
0.7	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.74	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.62	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.78	WMT	Walmart Aggressive Push	Pair Corr
0.8	DIS	Walt Disney Aggressive Push	Pair Corr

Moving against IndexIQ Etf

0.79	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.7	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.6	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.47	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	CSML	CACG	ASET	CSF	CIZ
CSML		0.24	-0.09	0.76	-0.04	CSML
CACG	0.24		-0.6	0.31	0.08	CACG
ASET	-0.09	-0.6		-0.03	0.08	ASET
CSF	0.76	0.31	-0.03		-0.02	CSF
CIZ	-0.04	0.08	0.08	-0.02		CIZ
	CSML	CACG	ASET	CSF	CIZ

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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

CSF	+ 0.76	CSML
CSF	+ 0.31	CACG
CACG	+ 0.24	CSML
CIZ	+ 0.08	CACG
CIZ	+ 0.08	ASET

High negative correlations

ASET	- 0.6	CACG
ASET	- 0.09	CSML
CIZ	- 0.04	CSML
CSF	- 0.03	ASET
CIZ	- 0.02	CSF

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CSML	1.00	0.12	0.00	(2.30)	0.99	(1.15)	2.34	(1.65)	5.75
CACG	0.64	0.04	(0.09)	(0.76)	0.83	(0.67)	1.42	(1.57)	3.53
ASET	0.48	(0.02)	(0.16)	0.04	0.59	(0.48)	0.78	(1.01)	2.39
CSF	0.91	(0.01)	0.04	0.11	0.75	(1.09)	1.95	(1.40)	7.81
CIZ	63.08	36.65	1.21	(0.66)	11.29	(169.21)	10.26	(4.95)	2,208

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.

IndexIQ Franklin Templeton Investments FlexShares Real Assets VictoryShares Discovery Enhanced VictoryShares Developed Enhanced American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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