IShares Nasdaq Correlations

Etfs . USA . 
Etf . iShares Nasdaq Top
QTOP Etf   26.53  0.03  0.11%   
The current 90-days correlation between iShares Nasdaq Top and Vanguard Growth Index is 0.03 (i.e., Significant 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

Good diversification

The correlation between iShares Nasdaq Top and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Nasdaq Top 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 Top. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with IShares Etf

  0.82VUG Vanguard Growth IndexPairCorr
  0.84IWF iShares Russell 1000PairCorr
  0.83IVW iShares SP 500PairCorr
  0.82SPYG SPDR Portfolio SPPairCorr
  0.81IUSG iShares Core SPPairCorr
  0.84VONG Vanguard Russell 1000PairCorr
  0.84MGK Vanguard Mega CapPairCorr
  0.84VRGWX Vanguard Russell 1000PairCorr
  0.82QQQM Invesco NASDAQ 100PairCorr
  0.86IWY iShares Russell TopPairCorr
  0.73DSJA DSJAPairCorr
  0.67RSPY Tuttle Capital ManagementPairCorr
  0.74BA BoeingPairCorr
  0.73WMT Walmart Aggressive PushPairCorr
  0.62CSCO Cisco SystemsPairCorr

Moving against IShares Etf

  0.73JNJ Johnson JohnsonPairCorr
  0.72XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.63INTC IntelPairCorr
  0.56DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.56AA Alcoa CorpPairCorr
  0.35VZ Verizon CommunicationsPairCorr
  0.33CVX Chevron Corp Earnings Call TodayPairCorr

Related Correlations Analysis

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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 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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