IShares Nasdaq Correlations

QNXT Etf

25.80 0.23 0.88%

The current 90-days correlation between iShares Nasdaq 100 and Freedom Day Dividend is 0.51 (i.e., Very 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 0.55 (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

0.66	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.69	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.67	KO	Coca Cola Sell-off Trend	Pair Corr

Moving against IShares Etf

0.58	DSJA	DSJA	Pair Corr
0.56	TSJA	TSJA	Pair Corr
0.47	XTJA	Innovator ETFs Trust	Pair Corr
0.47	XDJA	Innovator ETFs Trust	Pair Corr
0.45	QTJA	Innovator ETFs Trust	Pair Corr
0.39	QTAP	Innovator Growth 100	Pair Corr
0.38	VUG	Vanguard Growth Index	Pair Corr
0.37	IWF	iShares Russell 1000	Pair Corr
0.37	VONG	Vanguard Russell 1000	Pair Corr
0.37	MGK	Vanguard Mega Cap	Pair Corr
0.37	VRGWX	Vanguard Russell 1000	Pair Corr
0.37	XTAP	Innovator Equity Acc	Pair Corr
0.36	IVW	iShares SP 500	Pair Corr
0.36	SPYG	SPDR Portfolio SP	Pair Corr
0.35	IUSG	iShares Core SP	Pair Corr
0.34	QQQM	Invesco NASDAQ 100	Pair Corr
0.31	QTOC	Innovator ETFs Trust	Pair Corr
0.46	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.46	T	ATT Inc Aggressive Push	Pair Corr
0.42	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.41	BAC	Bank of America Aggressive Push	Pair Corr
0.4	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.4	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.36	DIS	Walt Disney Aggressive Push	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		0.27	0.3	-0.56	0.64	0.81	0.06	0.81	-0.31	MBOX
DIEM	0.27		0.9	-0.34	0.03	0.37	0.48	0.2	0.31	DIEM
MCHI	0.3	0.9		-0.56	0.29	0.54	0.09	0.4	-0.06	MCHI
DIPS	-0.56	-0.34	-0.56		-0.76	-0.86	0.39	-0.8	0.68	DIPS
DISO	0.64	0.03	0.29	-0.76		0.81	-0.57	0.87	-0.79	DISO
DIVB	0.81	0.37	0.54	-0.86	0.81		-0.21	0.96	-0.62	DIVB
DIVD	0.06	0.48	0.09	0.39	-0.57	-0.21		-0.29	0.86	DIVD
DIVG	0.81	0.2	0.4	-0.8	0.87	0.96	-0.29		-0.69	DIVG
DIVI	-0.31	0.31	-0.06	0.68	-0.79	-0.62	0.86	-0.69		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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

DIVG	+ 0.96	DIVB
MCHI	+ 0.9	DIEM
DIVG	+ 0.87	DISO
DIVI	+ 0.86	DIVD
DIVB	+ 0.81	MBOX
DIVG	+ 0.81	MBOX

High negative correlations

DIVB	- 0.86	DIPS
DIVG	- 0.8	DIPS
DIVI	- 0.79	DISO
DISO	- 0.76	DIPS
DIVI	- 0.69	DIVG
DIVI	- 0.62	DIVB

IShares Nasdaq Constituents 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
MBOX	0.60	(0.05)	(0.08)	0.06	0.63	(0.71)	1.25	(1.29)	3.49
DIEM	0.84	(0.05)	(0.11)	(0.02)	1.15	(0.85)	1.97	(2.01)	7.08
MCHI	1.91	0.16	0.02	1.03	2.53	(2.15)	5.40	(3.25)	19.77
DIPS	1.55	(0.11)	0.00	0.27	0.00	0.00	2.54	(3.20)	13.88
DISO	0.81	0.18	0.11	0.59	0.73	(0.97)	1.67	(1.33)	7.68
DIVB	0.53	0.01	(0.02)	0.13	0.32	(0.67)	1.04	(0.81)	3.81
DIVD	0.49	(0.09)	0.00	(0.06)	0.00	0.00	0.91	(0.98)	2.20
DIVG	0.48	0.02	(0.04)	0.15	0.40	(0.53)	1.10	(0.86)	3.07
DIVI	0.63	(0.16)	0.00	(0.31)	0.00	0.00	1.02	(1.58)	3.95

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC