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 -0.02 (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

Significant diversification

The correlation between IndexIQ and DJI is 0.04 (i.e., Significant 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
  0.91JPST JPMorgan Ultra Short Sell-off TrendPairCorr
  0.94USFR WisdomTree Floating RatePairCorr
  0.92ICSH iShares Ultra ShortPairCorr
  0.92FTSM First Trust EnhancedPairCorr
  0.94SGOV iShares 0 3PairCorr
  0.94GBIL Goldman Sachs AccessPairCorr
  0.94TFLO iShares Treasury FloatingPairCorr
  0.94FLRN SPDR Bloomberg InvestmentPairCorr
  0.79VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.8SPY SPDR SP 500 Aggressive PushPairCorr
  0.8IVV iShares Core SPPairCorr
  0.89VTV Vanguard Value Index Sell-off TrendPairCorr
  0.67VUG Vanguard Growth IndexPairCorr
  0.89VO Vanguard Mid CapPairCorr
  0.69VEA Vanguard FTSE Developed Sell-off TrendPairCorr
  0.72VB Vanguard Small CapPairCorr
  0.84CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.89MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.83DD Dupont De Nemours Sell-off TrendPairCorr
  0.88CSCO Cisco Systems Aggressive PushPairCorr
  0.96IBM International Business Earnings Call This WeekPairCorr
  0.67AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.72MMM 3M Company Earnings Call This WeekPairCorr
  0.88AXP American Express Earnings Call TomorrowPairCorr
  0.66KO Coca Cola Earnings Call This WeekPairCorr
  0.83TRV The Travelers Companies Upward RallyPairCorr
  0.88WMT Walmart Aggressive PushPairCorr

Moving against IndexIQ Etf

  0.5MRK Merck Company Fiscal Year End 6th of February 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   
UBER
+ 0.84
META
CRM
+ 0.83
META
T
+ 0.79
META
A
+ 0.77
META
CRM
+ 0.77
UBER
XOM
+ 0.75
CRM
  
High negative correlations   
MRK
- 0.67
META
MRK
- 0.6
A
MRK
- 0.48
T
XOM
- 0.47
MRK
MRK
- 0.46
CRM
A
- 0.43
F

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  1.40  0.19  0.09  0.27  1.70 
(1.53)
 3.86 
(2.54)
 8.61 
MSFT  0.95 (0.18) 0.00 (0.12) 0.00 
 0.00 
 1.77 
(2.23)
 4.92 
UBER  1.95  0.08  0.05  0.12  2.10 
(2.33)
 5.29 
(3.33)
 13.81 
F  1.69 (0.44) 0.00 (0.24) 0.00 
 0.00 
 2.75 
(3.91)
 19.29 
T  0.91  0.24  0.12 (4.52) 1.12 
(0.99)
 2.56 
(2.23)
 7.96 
A  1.04 (0.03)(0.02) 0.04  1.54 
(0.93)
 2.11 
(2.67)
 6.66 
CRM  1.30  0.11  0.09  0.15  1.27 
(1.42)
 2.93 
(2.03)
 6.62 
JPM  1.06 (0.01) 0.01  0.06  1.65 
(0.96)
 2.06 
(2.37)
 7.98 
MRK  1.00 (0.18) 0.00  6.63  0.00 
 0.00 
 1.68 
(2.07)
 11.82 
XOM  1.18  0.03  0.00  0.12  1.54 
(1.16)
 2.10 
(2.66)
 5.78 

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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