IndexIQ Correlations

Etfs . USA . 
Etf . IndexIQ
ULTR Etf  USD 47.66  0.00  0.00%   
The current 90-days correlation between IndexIQ and StealthGas is -0.23 (i.e., Very 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 0.18 (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.
  
Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with IndexIQ Etf

  0.94BIL SPDR Bloomberg 1PairCorr
  0.94SHV iShares Short TreasuryPairCorr
  0.94JPST JPMorgan Ultra ShortPairCorr
  0.94USFR WisdomTree Floating Rate Sell-off TrendPairCorr
  0.95ICSH iShares Ultra ShortPairCorr
  0.94FTSM First Trust EnhancedPairCorr
  0.94SGOV iShares 0 3PairCorr
  0.94GBIL Goldman Sachs AccessPairCorr
  0.94TFLO iShares Treasury FloatingPairCorr
  0.93FLRN SPDR Bloomberg InvestmentPairCorr
  0.92DSJA DSJAPairCorr
  0.92RSPY Tuttle Capital ManagementPairCorr
  0.9MEME Roundhill InvestmentsPairCorr
  0.83BA Boeing Earnings Call This WeekPairCorr
  0.72AXP American Express Earnings Call TomorrowPairCorr

Moving against IndexIQ Etf

  0.39MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.38PMBS PIMCO Mortgage BackedPairCorr
  0.88DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.84HPQ HP IncPairCorr
  0.75INTC Intel Earnings Call TodayPairCorr
  0.66VZ Verizon Communications Sell-off TrendPairCorr
  0.65AA Alcoa CorpPairCorr
  0.57CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.56MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.39PG Procter GamblePairCorr
  0.38GE GE Aerospace Fiscal Year End 28th of January 2025 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   
XOM
+ 0.91
F
XOM
+ 0.8
UBER
CRM
+ 0.78
T
MSFT
+ 0.73
META
F
+ 0.66
UBER
CRM
+ 0.63
MSFT
  
High negative correlations   
CRM
- 0.76
UBER
XOM
- 0.69
META
MRK
- 0.62
JPM
UBER
- 0.6
META
F
- 0.59
META
MRK
- 0.53
CRM

IndexIQ Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.35  0.12  0.06  0.37  1.51 
(1.52)
 3.43 
(3.15)
 7.43 
MSFT  0.96  0.11  0.05  1.81  1.52 
(0.95)
 2.12 
(1.73)
 8.14 
UBER  1.60 (0.27) 0.00 (3.51) 0.00 
 0.00 
 2.67 
(5.35)
 12.29 
F  1.44 (0.12) 0.00 (0.23) 0.00 
 0.00 
 2.46 
(2.90)
 11.21 
T  0.97  0.05  0.03  0.17  1.13 
(1.04)
 1.91 
(1.84)
 7.96 
A  1.21  0.13  0.09  0.28  1.20 
(1.40)
 2.81 
(2.42)
 8.06 
CRM  1.42  0.21  0.12  0.85  1.45 
(1.59)
 3.16 
(2.88)
 14.80 
JPM  1.05  0.25  0.18  1.04  1.09 
(1.21)
 1.92 
(1.42)
 15.87 
MRK  0.99 (0.21) 0.00 (1.25) 0.00 
 0.00 
 1.74 
(2.17)
 5.24 
XOM  0.75 (0.15) 0.00 (0.35) 0.00 
 0.00 
 1.71 
(1.67)
 6.06 

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
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