IndexIQ Correlations

CSML Etf

USD 33.76 0.02 0.06%

The current 90-days correlation between IndexIQ and IndexIQ is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IndexIQ moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IndexIQ moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IndexIQ Correlation With Market

Good diversification

The correlation between IndexIQ and DJI is -0.03 (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 population.

Moving together with IndexIQ Etf

0.78	VBR	Vanguard Small Cap	Pair Corr
0.68	IWN	iShares Russell 2000	Pair Corr
0.74	DFAT	Dimensional Targeted	Pair Corr
0.7	IJS	iShares SP Small	Pair Corr
0.69	SLYV	SPDR SP 600	Pair Corr
0.76	AVUV	Avantis Small Cap	Pair Corr
0.74	DES	WisdomTree SmallCap	Pair Corr
0.69	VIOV	Vanguard SP Small	Pair Corr
0.68	VRTVX	Vanguard Scottsdale Funds	Pair Corr
0.8	UPRO	ProShares UltraPro SP500	Pair Corr
0.84	QTJA	Innovator ETFs Trust	Pair Corr
0.76	QTOC	Innovator ETFs Trust	Pair Corr
0.77	XTOC	Innovator ETFs Trust	Pair Corr
0.82	QTAP	Innovator Growth 100	Pair Corr
0.94	TSJA	TSJA	Pair Corr
0.84	XTJA	Innovator ETFs Trust	Pair Corr
0.91	DSJA	DSJA	Pair Corr
0.85	XDJA	Innovator ETFs Trust	Pair Corr
0.83	XTAP	Innovator Equity Acc	Pair Corr
0.62	T	ATT Inc Sell-off Trend	Pair Corr
0.7	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.78	WMT	Walmart Aggressive Push	Pair Corr
0.64	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.82	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.67	HD	Home Depot	Pair Corr
0.63	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.84	BAC	Bank of America Aggressive Push	Pair Corr
0.81	DIS	Walt Disney Aggressive Push	Pair Corr
0.73	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.88	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against IndexIQ Etf

0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr
0.73	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	CLRG	CSF	FNK	CACG	RNSC
CLRG		0.71	0.6	0.68	0.68	CLRG
CSF	0.71		0.96	0.29	0.99	CSF
FNK	0.6	0.96		0.17	0.96	FNK
CACG	0.68	0.29	0.17		0.32	CACG
RNSC	0.68	0.99	0.96	0.32		RNSC
	CLRG	CSF	FNK	CACG	RNSC

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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
CLRG	0.54	0.08	(0.09)	(0.45)	0.52	(0.65)	1.26	(0.97)	2.94
CSF	0.90	(0.01)	0.05	0.11	0.73	(1.09)	1.95	(1.40)	7.81
FNK	0.82	(0.05)	(0.02)	0.08	0.78	(0.96)	1.73	(1.40)	6.51
CACG	0.64	0.04	(0.10)	(2.00)	0.83	(0.67)	1.42	(1.57)	3.53
RNSC	0.94	(0.04)	0.01	0.09	0.80	(1.14)	1.94	(1.44)	7.78

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 VictoryShares Discovery Enhanced First Trust Mid Franklin Templeton Investments First Trust Small 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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