IndexIQ Correlations
The current 90-days correlation between IndexIQ and IndexIQ is 0.14 (i.e., Average 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 -0.11 (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.
IndexIQ |
Moving against IndexIQ Etf
| 0.65 | ITWO | Proshares Russell 2000 Upward Rally | PairCorr |
| 0.37 | VB | Vanguard Small Cap | PairCorr |
| 0.36 | VTV | Vanguard Value Index | PairCorr |
| 0.36 | VO | Vanguard Mid Cap | PairCorr |
| 0.32 | RSPY | Tuttle Capital Management | PairCorr |
| 0.31 | VTI | Vanguard Total Stock | PairCorr |
| 0.31 | MEME | Roundhill Investments | PairCorr |
| 0.49 | WMT | Walmart Aggressive Push | PairCorr |
| 0.38 | PG | Procter Gamble Sell-off Trend | PairCorr |
| 0.37 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.32 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.32 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MCRO | 42.46 | 19.19 | 0.56 | (1.78) | 18.69 | 3.94 | 869.54 | |||
| MMSB | 0.25 | 0.00 | (0.43) | 0.00 | 0.28 | 0.63 | 1.29 | |||
| MRND | 0.88 | 0.15 | 0.03 | 2.52 | 0.89 | 1.73 | 3.85 | |||
| EQUL | 0.58 | 0.08 | (0.08) | (0.95) | 0.61 | 1.22 | 2.63 | |||
| CPI | 0.28 | 0.03 | (0.30) | 3.83 | 0.22 | 0.65 | 1.98 | |||
| QED | 0.29 | 0.06 | (0.19) | (35.12) | 0.16 | 0.70 | 1.47 | |||
| QLS | 0.48 | 0.09 | (0.07) | (1.39) | 0.43 | 1.00 | 2.66 | |||
| QMN | 0.14 | 0.04 | (0.69) | (1.43) | 0.00 | 0.32 | 0.73 | |||
| GRES | 0.82 | (0.03) | 0.00 | 0.92 | 0.00 | 1.50 | 4.39 |
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 |