IQ Merger Correlations

MNA Etf

USD 35.83 0.04 0.11%

The current 90-days correlation between IQ Merger Arbitrage and Morgan Stanley ETF is 0.3 (i.e., 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 0.2 (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.

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.

Moving together with MNA Etf

0.82	ARB	AltShares Trust	Pair Corr
0.69	GDXU	MicroSectors Gold Miners	Pair Corr
0.69	JNUG	Direxion Daily Junior	Pair Corr
0.72	NUGT	Direxion Daily Gold	Pair Corr
0.72	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.68	GDMN	WisdomTree Efficient Gold	Pair Corr
0.74	JSCP	JPMorgan Short Duration	Pair Corr
0.69	SRHQ	Elevation Series Trust	Pair Corr
0.71	WANT	Direxion Daily Cnsmr	Pair Corr
0.76	PSTR	PeakShares Sector	Pair Corr
0.81	NANC	Unusual Whales Subversive	Pair Corr
0.77	GBIL	Goldman Sachs Access	Pair Corr
0.71	AVES	Avantis Emerging Markets	Pair Corr
0.69	IXN	iShares Global Tech	Pair Corr
0.77	DHDG	FT Vest Equity	Pair Corr
0.76	HYEM	VanEck Emerging Markets	Pair Corr
0.8	EWJ	iShares MSCI Japan	Pair Corr
0.65	IGPT	Invesco Dynamic Software	Pair Corr
0.65	FROG	Jfrog	Pair Corr
0.74	LDEM	iShares ESG MSCI	Pair Corr
0.76	VGUS	Vanguard Ultra Short	Pair Corr
0.76	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.61	BBP	Virtus LifeSci Biotech	Pair Corr
0.79	JANT	AIM ETF Products	Pair Corr
0.76	KPRO	KraneShares Trust	Pair Corr
0.7	TFPN	Blueprint Chesapeake	Pair Corr
0.79	DGRO	iShares Core Dividend	Pair Corr
0.68	FPX	First Trust Equity	Pair Corr

Moving against MNA Etf

0.6

WTID

UBS ETRACS

Pair Corr

Related Correlations Analysis

	PAPI	ISCB	EQIN	BUSA	HOLA	VSDA	XSLV	LCTD	CHIQ	OMFS
PAPI		0.84	0.53	0.94	0.72	0.67	0.8	0.79	0.8	0.84	PAPI
ISCB	0.84		0.52	0.95	0.83	0.33	0.57	0.92	0.89	0.98	ISCB
EQIN	0.53	0.52		0.55	0.53	0.2	0.22	0.48	0.51	0.49	EQIN
BUSA	0.94	0.95	0.55		0.82	0.5	0.67	0.9	0.9	0.92	BUSA
HOLA	0.72	0.83	0.53	0.82		0.36	0.31	0.96	0.76	0.8	HOLA
VSDA	0.67	0.33	0.2	0.5	0.36		0.77	0.38	0.33	0.35	VSDA
XSLV	0.8	0.57	0.22	0.67	0.31	0.77		0.43	0.53	0.62	XSLV
LCTD	0.79	0.92	0.48	0.9	0.96	0.38	0.43		0.86	0.89	LCTD
CHIQ	0.8	0.89	0.51	0.9	0.76	0.33	0.53	0.86		0.89	CHIQ
OMFS	0.84	0.98	0.49	0.92	0.8	0.35	0.62	0.89	0.89		OMFS
	PAPI	ISCB	EQIN	BUSA	HOLA	VSDA	XSLV	LCTD	CHIQ	OMFS

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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
PAPI	0.56	(0.02)	(0.05)	0.06	0.61	(0.62)	1.28	(1.09)	3.49
ISCB	0.77	0.01	0.05	0.09	0.75	(0.95)	2.26	(1.15)	6.44
EQIN	1.31	(0.01)	(0.01)	0.07	2.53	(1.38)	2.60	(2.71)	15.70
BUSA	0.57	(0.01)	(0.01)	0.07	0.62	(0.65)	1.32	(1.15)	4.04
HOLA	0.39	0.03	(0.03)	0.13	0.33	(0.42)	0.90	(0.66)	2.59
VSDA	0.52	(0.04)	(0.09)	0.03	0.54	(0.59)	1.27	(0.90)	3.12
XSLV	0.66	(0.06)	(0.08)	0.02	0.69	(0.73)	1.48	(1.17)	4.64
LCTD	0.60	0.02	0.01	0.11	0.64	(0.64)	1.29	(1.13)	4.06
CHIQ	1.20	(0.03)	0.00	0.06	1.58	(1.22)	1.96	(1.88)	9.71
OMFS	0.82	0.01	0.05	0.09	0.81	(0.95)	2.11	(1.46)	6.06

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