IndexIQ Active Correlations

MMCA Etf

USD 21.40 0.01 0.05%

The current 90-days correlation between IndexIQ Active ETF and BlackRock High Yield is 0.05 (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 0.24 (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 Correlation Analysis 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 main economic indicators.

Moving together with IndexIQ Etf

0.73	ARB	AltShares Trust	Pair Corr
0.72	KEM	KraneShares Trust	Pair Corr
0.89	GHMS	Goose Hollow Multi	Pair Corr
0.72	EEMX	SPDR MSCI Emerging	Pair Corr
0.62	GDXU	MicroSectors Gold Miners	Pair Corr
0.79	JMST	JPMorgan Ultra Short	Pair Corr
0.91	SPIB	SPDR Barclays Interm	Pair Corr
0.88	ACWV	iShares MSCI Global	Pair Corr
0.92	LIAE	Stone Ridge 2050	Pair Corr
0.68	BBEM	JP Morgan Exchange	Pair Corr

Moving against IndexIQ Etf

0.45

XOP

SPDR SP Oil

Pair Corr

Related Correlations Analysis

	HYMU	DFNM	JPIE	JBBB	INMU
HYMU		0.21	0.39	-0.49	0.42	HYMU
DFNM	0.21		0.81	0.5	0.94	DFNM
JPIE	0.39	0.81		0.24	0.88	JPIE
JBBB	-0.49	0.5	0.24		0.32	JBBB
INMU	0.42	0.94	0.88	0.32		INMU
	HYMU	DFNM	JPIE	JBBB	INMU

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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

INMU	+ 0.94	DFNM
INMU	+ 0.88	JPIE
JPIE	+ 0.81	DFNM
JBBB	+ 0.5	DFNM
INMU	+ 0.42	HYMU
JPIE	+ 0.39	HYMU

High negative correlations

JBBB

- 0.49

HYMU

IndexIQ Active Constituents 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
HYMU	0.22	0.00	0.21	(0.05)	0.25	(0.28)	0.66	(0.44)	1.55
DFNM	0.11	(0.01)	0.37	(0.28)	0.14	(0.12)	0.23	(0.25)	0.61
JPIE	0.10	0.02	0.46	0.38	0.00	(0.11)	0.22	(0.31)	1.11
JBBB	0.12	0.00	0.26	(0.06)	0.19	(0.13)	0.31	(0.41)	0.98
INMU	0.19	0.00	0.24	(0.12)	0.23	(0.21)	0.39	(0.38)	1.62

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