IndexIQ Correlations

GRES Etf  USD 33.96  0.00  0.00%   
The current 90-days correlation between IndexIQ and VanEck Natural Resources is 0.06 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

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 Risk vs Return Analysis 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 income.

Moving against IndexIQ Etf

  0.73EV Mast Global BatteryPairCorr
  0.54IYM iShares Basic MaterialsPairCorr
  0.5XLB Materials Select SectorPairCorr
  0.5FXZ First Trust MaterialsPairCorr
  0.48URNM Sprott Uranium MinersPairCorr
  0.45VAW Vanguard Materials IndexPairCorr
  0.36XME SPDR SP MetalsPairCorr
  0.35NVDL GraniteShares 15x LongPairCorr
  0.35NVDX T Rex 2XPairCorr
  0.35NVDU Direxion Daily NVDAPairCorr
  0.32FIW First Trust WaterPairCorr
  0.55CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.53GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.5XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.49IBM International Business Fiscal Year End 22nd of January 2025 PairCorr
  0.43INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.33HPQ HP IncPairCorr
  0.33AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

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   
GNRHAP
MNAHAP
QAICPI
GNRMNA
QAIHAP
QAIGNR
  
High negative correlations   
GNRCPI
MNACPI
CPIHAP

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.

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