# Alternatives ETF Strategies: Correlation, Down Weeks

> The typical alternatives ETF in each of 8 strategies: its correlation to stocks, its down-week capture and its return against T-bills, to Nov 4, 2026.

Data as of Nov 4, 2026. Rebuilt every trading night.

Data as of Nov 4, 2026. Rebuilt every trading night.

## Alternatives ETF strategies

how each strategy moved with stocks, and in down weeks

Over the year to Nov 4, 2026, volatility had the lowest correlation to stocks at −0.64 and captured −34% of down weeks. 5 of 8 strategies returned more than T-bills.

The median fund in each strategy, weekly against SPY. 8 strategies, 89 funds.

Weekly returns over the 52 weeks to Nov 4, 2026, computed by ETFIQ from daily prices.

### At the defaults

| Strategy | Funds | Correlation | Down-week capture | Against T-bills, points |
| --- | --- | --- | --- | --- |
| Hedged equity | 26 | 0.91 | 48% | +3.3 |
| Managed futures | 23 | 0.47 | 46% | +9.5 |
| Long-short equity | 12 | 0.69 | 66% | +5.8 |
| Volatility | 9 | −0.64 | −34% | −24.3 |
| Multi-strategy | 8 | 0.60 | 46% | +3.0 |
| Event driven | 5 | 0.22 | 1% | −0.7 |
| Market neutral | 4 | −0.40 | −106% | −0.6 |
| Global macro | 2 | 0.73 | 145% | +8.4 |

### Questions people ask

What is a good correlation number? This page reports the number and does not grade it. Near 0 the strategy moved on its own; near 1 it moved with stocks; below 0 it tended to move the other way. Why is down-week capture negative for some strategies? A negative capture means the typical fund rose, on average, in weeks the S&P 500 fell. Why the median fund? One unusual fund cannot move a median far, so the number describes a typical fund in the strategy.

### Where to next

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Source: ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.
Cite: ETFIQ, Alternatives ETF strategies, data as of Nov 4, 2026. https://etfiq.com/alternatives/strategies/
Licence: https://etfiq.com/license/ Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.
HTML: https://etfiq.com/alternatives/strategies/