IQ Merger Correlations

Etfs . USA . 
Etf . IQ Merger Arbitrage
MNA Etf  USD 34.23  0.01  0.03%   
The current 90-days correlation between IQ Merger Arbitrage and IQ Hedge Multi Strategy is 0.46 (i.e., Very weak diversification). The correlation of IQ Merger 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.

IQ Merger Correlation With Market

Modest diversification

The correlation between IQ Merger Arbitrage and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IQ Merger Arbitrage 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 IQ Merger Arbitrage. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with MNA Etf

  0.93ARB AltShares TrustPairCorr
  0.63SPCX SPAC and NewPairCorr
  0.67SPAX Tidal ETF TrustPairCorr
  0.8EVNT AltShares Event DrivenPairCorr
  0.61HART IQ Healthy HeartsPairCorr
  0.79ISCMF iShares VI PublicPairCorr
  0.7BTAL AGFiQ Market NeutralPairCorr
  0.82DIHP Dimensional InternationalPairCorr
  0.73TZA Direxion Daily SmallPairCorr
  0.61FLMX Franklin FTSE MexicoPairCorr
  0.83MFDX PIMCO RAFI DynamicPairCorr
  0.89NUSA Nuveen Enhanced YieldPairCorr
  0.71REM iShares Mortgage RealPairCorr
  0.64GOVT iShares Treasury BondPairCorr
  0.66UITB VictoryShares USAA CorePairCorr
  0.7CURE Direxion Daily HealthcarePairCorr
  0.81SECR IndexIQ Active ETFPairCorr
  0.83GSIE Goldman Sachs ActiveBetaPairCorr
  0.86UTRE US Treasury 3PairCorr
  0.88IAUM iShares Gold TrustPairCorr
  0.93JMST JPMorgan Ultra ShortPairCorr
  0.69BKF iShares MSCI BICPairCorr
  0.83HYEM VanEck Emerging MarketsPairCorr
  0.95BKUI BNY Mellon ETFPairCorr
  0.89HDEF Xtrackers MSCI EAFEPairCorr
  0.92NORW Global X MSCIPairCorr
  0.84AXSAX Axonic Strategic IncomePairCorr
  0.93EWI iShares MSCI ItalyPairCorr

Moving against MNA Etf

  0.67VBK Vanguard Small CapPairCorr
  0.55EOS Eaton Vance EnhancedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BTAL
+ 0.51
MRGR
MRGR
+ 0.17
QAI
GRES
+ 0.0
QAI
CPI
+ 0.0
QAI
GRES
+ 0.0
MRGR
CPI
+ 0.0
MRGR
  
High negative correlations   
BTAL
- 0.62
QAI
CPI
- 0.0
BTAL
CPI
- 0.0
GRES
BTAL
- 0.0
GRES
CPI
- 0.0
MRGR
GRES
- 0.0
MRGR

IQ Merger Constituents Risk-Adjusted Indicators

There is a big difference between MNA Etf performing well and IQ Merger 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 IQ Merger'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.

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