IndexIQ Correlations
| GRES Etf | USD 33.96 0.00 0.00% |
The current 90-days correlation between IndexIQ and VanEck Natural Resources is -0.02 (i.e., Good 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
Average diversification
The correlation between IndexIQ and DJI is 0.12 (i.e., Average 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 together with IndexIQ Etf
| 0.62 | MKC | McCormick Company Fiscal Year End 23rd of January 2025 | PairCorr |
Moving against IndexIQ Etf
| 0.73 | URNM | Sprott Uranium Miners | PairCorr |
| 0.59 | XME | SPDR SP Metals | PairCorr |
| 0.39 | KONG | Formidable Fortress ETF | PairCorr |
| 0.38 | VAW | Vanguard Materials Index | PairCorr |
| 0.34 | IYM | iShares Basic Materials | PairCorr |
| 0.34 | JAVA | JPMorgan Active Value | PairCorr |
| 0.33 | FXZ | First Trust Materials | PairCorr |
| 0.63 | HPQ | HP Inc | PairCorr |
| 0.61 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.53 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.49 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.32 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
Related Correlations Analysis
| -0.84 | 0.38 | 0.98 | -0.46 | HAP | ||
| -0.84 | -0.18 | -0.83 | 0.62 | CPI | ||
| 0.38 | -0.18 | 0.38 | -0.22 | MNA | ||
| 0.98 | -0.83 | 0.38 | -0.48 | GNR | ||
| -0.46 | 0.62 | -0.22 | -0.48 | QAI | ||
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HAP | 0.70 | (0.16) | 0.00 | (0.36) | 0.00 | 1.13 | 3.49 | |||
| CPI | 0.28 | 0.03 | 0.04 | (0.64) | 0.22 | 0.65 | 1.98 | |||
| MNA | 0.14 | (0.02) | 0.00 | (0.23) | 0.00 | 0.21 | 0.82 | |||
| GNR | 0.79 | (0.20) | 0.00 | (0.32) | 0.00 | 1.45 | 4.31 | |||
| QAI | 0.22 | 0.01 | (0.02) | 0.04 | 0.22 | 0.47 | 1.29 |
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 |