NEOS Nasdaq Correlations

QQQI Etf

52.95 0.20 0.38%

The current 90-days correlation between NEOS Nasdaq 100 and Acruence Active Hedge is 0.69 (i.e., Poor diversification). The correlation of NEOS 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.

NEOS Nasdaq Correlation With Market

Modest diversification

The correlation between NEOS Nasdaq 100 and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEOS Nasdaq 100 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 NEOS Nasdaq 100. 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 NEOS Etf

0.88	XYLD	Global X SP	Pair Corr
0.84	RYLD	Global X Russell	Pair Corr
0.99	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.99	NUSI	NEOS ETF Trust	Pair Corr
0.9	BUYW	Main Buywrite ETF	Pair Corr
0.83	DSJA	DSJA	Pair Corr
0.76	RSPY	Tuttle Capital Management	Pair Corr
0.69	MEME	Roundhill Investments	Pair Corr
0.74	BA	Boeing	Pair Corr
0.73	IBM	International Business Upward Rally	Pair Corr
0.7	MSFT	Microsoft Downward Rally	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.88	AXP	American Express	Pair Corr
0.64	DIS	Walt Disney Earnings Call This Week	Pair Corr

Moving against NEOS Etf

0.36	KNG	FT Cboe Vest	Pair Corr
0.67	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.59	KO	Coca Cola Earnings Call This Week	Pair Corr
0.47	AA	Alcoa Corp	Pair Corr
0.38	MRK	Merck Company Earnings Call This Week	Pair Corr
0.31	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.31	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	XVOL	XDQQ	VEGA	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	VIASP	XTWO
XVOL		0.18	0.75	0.37	-0.23	0.47	0.49	0.76	-0.03	-0.01	XVOL
XDQQ	0.18		0.5	-0.75	0.76	-0.64	0.72	-0.05	0.87	0.84	XDQQ
VEGA	0.75	0.5		0.06	0.06	0.27	0.71	0.6	0.16	0.43	VEGA
AQUI	0.37	-0.75	0.06		-0.73	0.95	-0.21	0.52	-0.86	-0.68	AQUI
BRRAY	-0.23	0.76	0.06	-0.73		-0.71	0.43	-0.43	0.77	0.66	BRRAY
MSTSX	0.47	-0.64	0.27	0.95	-0.71		-0.08	0.61	-0.84	-0.55	MSTSX
LBHIX	0.49	0.72	0.71	-0.21	0.43	-0.08		0.46	0.46	0.72	LBHIX
ABHYX	0.76	-0.05	0.6	0.52	-0.43	0.61	0.46		-0.26	0.01	ABHYX
VIASP	-0.03	0.87	0.16	-0.86	0.77	-0.84	0.46	-0.26		0.72	VIASP
XTWO	-0.01	0.84	0.43	-0.68	0.66	-0.55	0.72	0.01	0.72		XTWO
	XVOL	XDQQ	VEGA	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	VIASP	XTWO

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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

MSTSX	+ 0.95	AQUI
VIASP	+ 0.87	XDQQ
XTWO	+ 0.84	XDQQ
VIASP	+ 0.77	BRRAY
ABHYX	+ 0.76	XVOL
BRRAY	+ 0.76	XDQQ

High negative correlations

VIASP	- 0.86	AQUI
VIASP	- 0.84	MSTSX
AQUI	- 0.75	XDQQ
BRRAY	- 0.73	AQUI
MSTSX	- 0.71	BRRAY
XTWO	- 0.68	AQUI

NEOS Nasdaq Constituents Risk-Adjusted Indicators

There is a big difference between NEOS Etf performing well and NEOS 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 NEOS 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
XVOL	0.82	0.02	(0.01)	0.13	1.16	(0.79)	1.68	(1.76)	6.87
XDQQ	0.59	0.11	0.05	0.53	0.68	(0.68)	1.28	(1.50)	4.65
VEGA	0.44	0.01	(0.10)	0.11	0.58	(0.45)	0.79	(1.09)	2.41
AQUI	2.79	(1.41)	0.00	12.41	0.00	0.00	0.00	0.00	93.33
BRRAY	3.35	0.83	0.08	(13.11)	3.56	(10.00)	12.48	(7.26)	59.51
MSTSX	0.56	(0.10)	0.00	3.70	0.00	0.00	0.97	(1.20)	7.06
LBHIX	0.14	0.02	(0.23)	1.41	0.00	(0.31)	0.48	(0.24)	1.19
ABHYX	0.22	0.00	(0.17)	0.15	0.32	(0.30)	0.46	(0.56)	1.92
VIASP	0.65	0.18	0.12	4.77	0.52	(0.74)	1.40	(1.18)	5.04
XTWO	0.07	0.00	(1.06)	(0.16)	0.00	(0.08)	0.18	(0.12)	0.39

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