Astoria Quality Correlations

Etfs . USA . 
Etf . Astoria Quality Growth
GQQQ Etf   26.36  0.27  1.03%   
The current 90-days correlation between Astoria Quality Growth and Vanguard Growth Index is 0.04 (i.e., Significant diversification). The correlation of Astoria Quality 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.

Astoria Quality Correlation With Market

Good diversification

The correlation between Astoria Quality Growth and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Astoria Quality Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Astoria Quality Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Astoria Etf

  0.85VUG Vanguard Growth IndexPairCorr
  0.84IWF iShares Russell 1000PairCorr
  0.82IVW iShares SP 500PairCorr
  0.82SPYG SPDR Portfolio SPPairCorr
  0.83IUSG iShares Core SPPairCorr
  0.84VONG Vanguard Russell 1000PairCorr
  0.84MGK Vanguard Mega CapPairCorr
  0.84VRGWX Vanguard Russell 1000PairCorr
  0.85QQQM Invesco NASDAQ 100PairCorr
  0.83IWY iShares Russell TopPairCorr
  0.62IBM International Business Upward RallyPairCorr
  0.73WMT Walmart Aggressive PushPairCorr
  0.66CSCO Cisco SystemsPairCorr

Moving against Astoria Etf

  0.59JNJ Johnson JohnsonPairCorr
  0.48XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.38INTC IntelPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Astoria Quality Constituents Risk-Adjusted Indicators

There is a big difference between Astoria Etf performing well and Astoria Quality 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 Astoria Quality'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
VUG  0.87  0.08  0.01  0.32  1.15 
(0.89)
 1.67 
(2.04)
 5.83 
IWF  0.89  0.08  0.02  0.32  1.16 
(0.91)
 1.71 
(2.08)
 5.97 
IVW  0.87  0.08  0.02  0.33  1.14 
(0.92)
 1.73 
(2.00)
 6.13 
SPYG  0.88  0.08  0.02  0.33  1.17 
(0.92)
 1.72 
(2.01)
 6.23 
IUSG  0.86  0.08  0.02  0.31  1.22 
(0.91)
 1.69 
(2.02)
 6.03 
VONG  0.88  0.08  0.02  0.33  1.13 
(0.90)
 1.72 
(2.10)
 5.90 
MGK  0.89  0.07  0.01  0.32  1.15 
(0.90)
 1.71 
(2.16)
 5.68 
VRGWX  0.89  0.08  0.02  0.32  1.18 
(0.91)
 1.70 
(2.10)
 5.99 
QQQM  0.90  0.06  0.00  0.28  1.18 
(0.94)
 1.69 
(2.39)
 6.31 
IWY  0.91  0.07  0.01  0.32  1.16 
(0.94)
 1.78 
(2.24)
 5.79 

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