IndexIQ ETF Correlations

OCEN Etf

USD 20.74 0.06 0.29%

The current 90-days correlation between IndexIQ ETF Trust and IndexIQ ETF Trust is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IndexIQ ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IndexIQ ETF Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IndexIQ ETF Correlation With Market

Average diversification

The correlation between IndexIQ ETF Trust and DJI is 0.11 (i.e., Average 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 Your Equity Center 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 income.

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

Moving together with IndexIQ Etf

0.62	IPAY	Amplify ETF Trust	Pair Corr
0.66	UPRO	ProShares UltraPro SP500	Pair Corr
0.66	SPXL	Direxion Daily SP500	Pair Corr
0.64	QQEW	First Trust NASDAQ	Pair Corr
0.61	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	CLNR	EQUL	QQJG	QQMG	NUDV
CLNR		0.2	0.75	0.75	0.28	CLNR
EQUL	0.2		0.38	0.09	0.57	EQUL
QQJG	0.75	0.38		0.64	0.52	QQJG
QQMG	0.75	0.09	0.64		-0.05	QQMG
NUDV	0.28	0.57	0.52	-0.05		NUDV
	CLNR	EQUL	QQJG	QQMG	NUDV

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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

QQJG	+ 0.75	CLNR
QQMG	+ 0.75	CLNR
QQMG	+ 0.64	QQJG
NUDV	+ 0.57	EQUL
NUDV	+ 0.52	QQJG
QQJG	+ 0.38	EQUL

High negative correlations

NUDV

- 0.05

QQMG

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
CLNR	0.77	(0.03)	0.00	(0.05)	0.00	0.00	1.43	(2.02)	4.04
EQUL	0.70	(0.20)	0.00	(3.79)	0.00	0.00	1.27	(2.09)	3.36
QQJG	0.74	0.01	0.00	0.05	0.96	(0.79)	1.57	(1.48)	5.04
QQMG	0.93	0.01	(0.01)	0.04	1.29	(1.01)	1.98	(2.64)	6.00
NUDV	0.57	0.02	0.01	0.06	0.54	(0.72)	1.22	(0.94)	3.11

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