IShares Nasdaq Correlations

QNXT Etf

24.67 0.15 0.60%

The current 90-days correlation between iShares Nasdaq 100 and Strategy Shares is 0.37 (i.e., Weak diversification). The correlation of IShares Nasdaq 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.

IShares Nasdaq Correlation With Market

Very weak diversification

The correlation between iShares Nasdaq 100 ex and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Nasdaq 100 ex and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in iShares Nasdaq 100 ex. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with IShares Etf

0.61	VUG	Vanguard Growth Index	Pair Corr
0.7	IVW	iShares SP 500	Pair Corr
0.7	SPYG	SPDR Portfolio SP	Pair Corr
0.7	IUSG	iShares Core SP	Pair Corr
0.74	QQQM	Invesco NASDAQ 100	Pair Corr
0.66	SHNY	Microsectors Gold	Pair Corr
0.61	KEMQ	KraneShares Emerging	Pair Corr
0.66	HERO	Global X Video	Pair Corr
0.63	HYUP	Xtrackers High Beta	Pair Corr
0.62	HYDW	Xtrackers Low Beta	Pair Corr
0.64	AVNV	American Century ETF	Pair Corr
0.7	IXUS	iShares Core MSCI	Pair Corr
0.62	CWEB	Direxion Daily CSI Upward Rally	Pair Corr
0.61	EZU	iShares MSCI Eurozone Low Volatility	Pair Corr

Moving against IShares Etf

0.47	WTID	UBS ETRACS	Pair Corr
0.65	PSQ	ProShares Short QQQ	Pair Corr
0.46	SSG	ProShares UltraShort	Pair Corr
0.32	HDGE	AdvisorShares Ranger	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.49	0.66	-0.58	0.71	0.2	-0.2	0.87	-0.84	-0.13	META
MSFT	-0.49		-0.67	0.53	-0.69	0.39	0.82	-0.48	0.63	0.04	MSFT
UBER	0.66	-0.67		-0.3	0.77	-0.16	-0.57	0.73	-0.78	0.36	UBER
F	-0.58	0.53	-0.3		-0.39	0.21	0.47	-0.38	0.67	0.63	F
T	0.71	-0.69	0.77	-0.39		-0.33	-0.52	0.63	-0.76	0.1	T
A	0.2	0.39	-0.16	0.21	-0.33		0.47	0.38	0.11	0.07	A
CRM	-0.2	0.82	-0.57	0.47	-0.52	0.47		-0.26	0.46	0.05	CRM
JPM	0.87	-0.48	0.73	-0.38	0.63	0.38	-0.26		-0.78	0.09	JPM
MRK	-0.84	0.63	-0.78	0.67	-0.76	0.11	0.46	-0.78		0.08	MRK
XOM	-0.13	0.04	0.36	0.63	0.1	0.07	0.05	0.09	0.08		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.87	META
CRM	+ 0.82	MSFT
T	+ 0.77	UBER
JPM	+ 0.73	UBER
T	+ 0.71	META
MRK	+ 0.67	F

High negative correlations

MRK	- 0.84	META
MRK	- 0.78	JPM
MRK	- 0.78	UBER
MRK	- 0.76	T
T	- 0.69	MSFT
UBER	- 0.67	MSFT

IShares Nasdaq Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Nasdaq 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 IShares Nasdaq'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
META	1.43	0.26	0.16	0.31	1.56	(1.45)	3.22	(2.30)	7.11
MSFT	1.05	(0.06)	0.00	(0.21)	0.00	0.00	2.56	(2.14)	10.31
UBER	1.90	0.13	0.07	5.75	2.78	(1.88)	4.72	(3.13)	12.28
F	1.38	(0.08)	0.00	(0.14)	0.00	0.00	2.55	(2.89)	10.14
T	1.03	0.26	0.18	0.32	1.36	(1.13)	1.90	(1.97)	11.66
A	1.14	(0.04)	0.00	(0.11)	0.00	0.00	2.81	(2.53)	9.03
CRM	1.45	(0.18)	0.00	(0.29)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.95	0.08	0.05	0.02	1.46	(0.95)	1.97	(1.73)	6.85
MRK	1.24	(0.11)	0.00	(2.67)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.94	(0.13)	0.00	(0.31)	0.00	0.00	1.76	(2.50)	5.89

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