IQ Merger Correlations

MNA Etf

USD 35.92 0.16 0.44%

The current 90-days correlation between IQ Merger Arbitrage and Oppenheimer Russell 2000 is 0.5 (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

Weak diversification

The correlation between IQ Merger Arbitrage and DJI is 0.36 (i.e., Weak 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.

Build AI portfolio with MNA Etf

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 state.

Related Correlations Analysis

	OMFS	VALQ	PAPI	BUSA	HOLA	ISCB	EQIN	LCTD	EWM	CHIQ
OMFS		0.85	0.63	0.71	0.49	0.96	0.4	0.61	0.21	0.05	OMFS
VALQ	0.85		0.84	0.95	0.7	0.92	0.5	0.74	0.55	-0.22	VALQ
PAPI	0.63	0.84		0.89	0.5	0.7	0.45	0.54	0.56	-0.24	PAPI
BUSA	0.71	0.95	0.89		0.72	0.83	0.53	0.69	0.7	-0.41	BUSA
HOLA	0.49	0.7	0.5	0.72		0.66	0.48	0.89	0.69	-0.41	HOLA
ISCB	0.96	0.92	0.7	0.83	0.66		0.45	0.75	0.39	-0.08	ISCB
EQIN	0.4	0.5	0.45	0.53	0.48	0.45		0.4	0.46	-0.17	EQIN
LCTD	0.61	0.74	0.54	0.69	0.89	0.75	0.4		0.55	-0.06	LCTD
EWM	0.21	0.55	0.56	0.7	0.69	0.39	0.46	0.55		-0.54	EWM
CHIQ	0.05	-0.22	-0.24	-0.41	-0.41	-0.08	-0.17	-0.06	-0.54		CHIQ
	OMFS	VALQ	PAPI	BUSA	HOLA	ISCB	EQIN	LCTD	EWM	CHIQ

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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

ISCB	+ 0.96	OMFS
BUSA	+ 0.95	VALQ
ISCB	+ 0.92	VALQ
BUSA	+ 0.89	PAPI
LCTD	+ 0.89	HOLA
VALQ	+ 0.85	OMFS

High negative correlations

CHIQ	- 0.54	EWM
CHIQ	- 0.41	HOLA
CHIQ	- 0.41	BUSA
CHIQ	- 0.24	PAPI
CHIQ	- 0.22	VALQ
CHIQ	- 0.17	EQIN

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OMFS	0.93	(0.02)	0.00	0.05	1.06	(1.00)	2.11	(1.94)	4.58
VALQ	0.53	(0.01)	(0.03)	0.06	0.64	(0.55)	0.98	(1.19)	2.66
PAPI	0.50	(0.02)	(0.07)	0.03	0.64	(0.53)	1.17	(1.10)	2.91
BUSA	0.59	0.01	0.00	0.08	0.65	(0.65)	1.31	(1.18)	3.24
HOLA	0.38	0.02	(0.03)	0.10	0.38	(0.40)	0.76	(0.74)	1.70
ISCB	0.86	(0.03)	(0.01)	0.04	1.08	(0.85)	1.79	(1.85)	4.85
EQIN	1.60	0.02	0.01	0.09	2.67	(1.86)	5.76	(3.38)	12.89
LCTD	0.58	(0.02)	(0.04)	0.05	0.74	(0.58)	1.09	(1.22)	2.73
EWM	0.60	0.05	0.03	0.14	0.70	(0.64)	1.32	(1.20)	4.32
CHIQ	1.10	(0.18)	0.00	(0.11)	0.00	0.00	1.85	(1.91)	8.05

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