Nasdaq 100 Correlations
| NQUSD Commodity | 20,992 111.25 0.53% |
The current 90-days correlation between Nasdaq 100 and Corn Futures is 0.04 (i.e., Significant diversification). The correlation of Nasdaq 100 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.
Nasdaq 100 Correlation With Market
Poor diversification
The correlation between Nasdaq 100 and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nasdaq 100 and DJI in the same portfolio, assuming nothing else is changed.
Nasdaq |
The ability to find closely correlated positions to Nasdaq 100 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nasdaq 100 when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nasdaq 100 - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nasdaq 100 to buy it.
Moving together with Nasdaq Commodity
| 0.91 | NVDA | NVIDIA | PairCorr |
| 0.83 | AMZN | Amazon Inc Aggressive Push | PairCorr |
| 0.84 | GOOG | Alphabet Class C | PairCorr |
| 0.83 | META | Meta Platforms Aggressive Push | PairCorr |
| 0.75 | MCS | Marcus | PairCorr |
| 0.75 | SRRK | Scholar Rock Holding Trending | PairCorr |
| 0.66 | DCOMP | Dime Community Bancshares | PairCorr |
| 0.81 | HIVE | HIVE Blockchain Tech | PairCorr |
| 0.65 | DKNG | DraftKings | PairCorr |
| 0.63 | VIRT | Virtu Financial Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.89 | GEV | GE Vernova LLC | PairCorr |
| 0.81 | MRVL | Marvell Technology Earnings Call Tomorrow | PairCorr |
| 0.75 | BLTE | Belite Bio ADR | PairCorr |
| 0.89 | CRS | Carpenter Technology | PairCorr |
| 0.97 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
| 0.86 | IGV | iShares Expanded Tech Low Volatility | PairCorr |
| 0.98 | VOO | Vanguard SP 500 | PairCorr |
| 0.97 | ITOT | iShares Core SP | PairCorr |
| 0.84 | TFLR | T Rowe Price | PairCorr |
| 0.98 | SCHG | Schwab Large Cap | PairCorr |
| 0.89 | VXF | Vanguard Extended Market | PairCorr |
| 0.81 | DVY | iShares Select Dividend | PairCorr |
| 0.91 | TDSC | Cabana Target Drawdown | PairCorr |
| 0.69 | DRVN | Driven Brands Holdings | PairCorr |
| 0.95 | MVPS | Amplify Thematic All | PairCorr |
| 0.9 | SFYX | SoFi Next 500 | PairCorr |
| 0.79 | PUI | Invesco DWA Utilities | PairCorr |
| 0.77 | XSLV | Invesco SP SmallCap | PairCorr |
| 0.91 | TEGYX | Mid Cap Growth | PairCorr |
| 0.9 | TRLCX | Tiaa-cref Large-cap | PairCorr |
| 0.94 | LGPIX | Large Cap Growth | PairCorr |
Moving against Nasdaq Commodity
| 0.57 | NUZE | Nuzee Inc Symbol Change | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Nasdaq Commodity performing well and Nasdaq 100 Commodity 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 Nasdaq 100'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ZCUSX | 0.96 | 0.20 | 0.09 | 3.61 | 0.75 | 1.85 | 10.22 | |||
| ZFUSD | 0.16 | (0.04) | 0.00 | 0.94 | 0.00 | 0.30 | 1.13 | |||
| LEUSX | 0.52 | 0.05 | (0.10) | (0.24) | 0.74 | 1.09 | 4.40 | |||
| HEUSX | 1.03 | 0.05 | (0.04) | (4.79) | 1.70 | 2.09 | 9.91 | |||
| CCUSD | 2.52 | 0.23 | 0.04 | 1.94 | 2.93 | 5.56 | 15.13 | |||
| PAUSD | 2.40 | 0.05 | (0.02) | 0.41 | 2.56 | 4.51 | 15.36 | |||
| MGCUSD | 0.75 | 0.07 | (0.06) | (0.20) | 1.16 | 1.39 | 5.19 |
Nasdaq 100 Related Commodities
One prevalent trading approach among algorithmic traders in the commodities sector involves employing market-neutral strategies, wherein each trade is designed to hedge away specific risks. Given that this approach necessitates two distinct transactions, if one position underperforms unexpectedly, the other can potentially offset some of the losses. This method can be applied to commodities such as Nasdaq 100, pairing it with other commodities or financial instruments to create a balanced, market-neutral setup.
| Risk & Return | Correlation |