IndexIQ Active Correlations

ESGBDelisted Etf

USD 21.19 0.04 0.19%

The current 90-days correlation between IndexIQ Active ETF and SPDR Bloomberg Barclays is 0.04 (i.e., Significant diversification). The correlation of IndexIQ Active 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 Active Correlation With Market

Modest diversification

The correlation between IndexIQ Active ETF and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IndexIQ Active ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in IndexIQ Active ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with IndexIQ Etf

0.92	IUSB	iShares Core Total	Pair Corr
0.93	FIXD	First Trust TCW	Pair Corr
0.92	FBND	Fidelity Total Bond	Pair Corr
0.94	TOTL	SPDR DoubleLine Total	Pair Corr
0.93	HTRB	Hartford Total Return	Pair Corr
0.92	GTO	Invesco Total Return	Pair Corr
0.93	EUSB	iShares Trust	Pair Corr
0.93	JCPB	JPMorgan Core Plus	Pair Corr
0.91	VBND	Vident Core Bond	Pair Corr
0.92	CGCP	Capital Group Core	Pair Corr
0.77	GDXU	MicroSectors Gold Miners	Pair Corr
0.87	KO	Coca Cola	Pair Corr
0.9	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.83	MCD	McDonalds	Pair Corr

Moving against IndexIQ Etf

0.56	UPRO	ProShares UltraPro SP500	Pair Corr
0.49	QTOC	Innovator ETFs Trust	Pair Corr
0.46	QTJA	Innovator ETFs Trust	Pair Corr
0.42	XTOC	Innovator ETFs Trust	Pair Corr
0.39	XTJA	Innovator ETFs Trust	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.69	CAT	Caterpillar	Pair Corr
0.62	AXP	American Express	Pair Corr
0.51	HD	Home Depot	Pair Corr
0.5	MRK	Merck Company	Pair Corr
0.4	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

IndexIQ Active Competition Risk-Adjusted Indicators

There is a big difference between IndexIQ Etf performing well and IndexIQ Active 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 Active'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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

The entity IndexIQ Active ETF with a symbol ESGB was recently relisted or delisted. You can potentially use NYLI MacKay Core with a symbol CPLB. Please make sure the ticker renaming or change in the classification of IndexIQ Active ETF is not a temporary action by the exchange.

Still Interested in IndexIQ Active ETF?

Investing in delisted delisted etfs can be risky, as the etf is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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