Hashdex Nasdaq Correlations

NCIQ Etf

26.28 0.17 0.64%

The current 90-days correlation between Hashdex Nasdaq Crypto and Grayscale Funds Trust is 0.76 (i.e., Poor diversification). The correlation of Hashdex 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.

Hashdex Nasdaq Correlation With Market

Good diversification

The correlation between Hashdex Nasdaq Crypto and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hashdex Nasdaq Crypto and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Hashdex Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Hashdex Nasdaq Crypto. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Hashdex Etf

0.89	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.89	BITO	ProShares Bitcoin	Pair Corr
0.96	BLOK	Amplify Transformational	Pair Corr
0.9	BLCN	Siren Nasdaq NexGen	Pair Corr
0.92	LEGR	First Trust Indxx	Pair Corr
0.97	BITQ	Bitwise Crypto Industry	Pair Corr
0.93	SPBC	Simplify Equity PLUS	Pair Corr
0.7	BTC	Grayscale Bitcoin Mini	Pair Corr
0.94	DAPP	VanEck Digital Trans	Pair Corr
0.88	CRPT	First Trust SkyBridge	Pair Corr
0.83	VTI	Vanguard Total Stock	Pair Corr
0.83	SPY	SPDR SP 500	Pair Corr
0.83	IVV	iShares Core SP	Pair Corr
0.64	VTV	Vanguard Value Index	Pair Corr
0.86	VUG	Vanguard Growth Index	Pair Corr
0.84	VO	Vanguard Mid Cap	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.78	VB	Vanguard Small Cap	Pair Corr
0.92	AVES	Avantis Emerging Markets	Pair Corr
0.86	NFLX	Netflix	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.85	DIS	Walt Disney	Pair Corr
0.86	MSFT	Microsoft	Pair Corr
0.82	BAC	Bank of America	Pair Corr
0.85	AXP	American Express	Pair Corr
0.88	GE	GE Aerospace	Pair Corr
0.66	WMT	Walmart	Pair Corr
0.8	IBM	International Business	Pair Corr
0.89	BA	Boeing	Pair Corr

Moving against Hashdex Etf

0.33

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.92	0.75	0.82	0.48	0.69	0.51	0.91	-0.18	0.15	META
MSFT	0.92		0.89	0.84	0.53	0.41	0.43	0.94	-0.46	-0.13	MSFT
UBER	0.75	0.89		0.89	0.45	0.3	0.62	0.9	-0.5	-0.16	UBER
F	0.82	0.84	0.89		0.5	0.59	0.7	0.9	-0.2	0.2	F
T	0.48	0.53	0.45	0.5		0.3	0.15	0.57	-0.13	0.16	T
A	0.69	0.41	0.3	0.59	0.3		0.58	0.52	0.51	0.7	A
CRM	0.51	0.43	0.62	0.7	0.15	0.58		0.54	0.14	0.29	CRM
JPM	0.91	0.94	0.9	0.9	0.57	0.52	0.54		-0.36	0.08	JPM
MRK	-0.18	-0.46	-0.5	-0.2	-0.13	0.51	0.14	-0.36		0.7	MRK
XOM	0.15	-0.13	-0.16	0.2	0.16	0.7	0.29	0.08	0.7		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	+ 0.94	MSFT
MSFT	+ 0.92	META
JPM	+ 0.91	META
JPM	+ 0.9	UBER
JPM	+ 0.9	F
UBER	+ 0.89	MSFT

High negative correlations

MRK	- 0.5	UBER
MRK	- 0.46	MSFT
MRK	- 0.36	JPM
MRK	- 0.2	F
MRK	- 0.18	META
XOM	- 0.16	UBER

Hashdex Nasdaq Competition Risk-Adjusted Indicators

There is a big difference between Hashdex Etf performing well and Hashdex 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 Hashdex 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	2.08	0.24	0.09	0.18	2.46	(2.36)	4.23	(4.29)	21.50
MSFT	1.22	0.32	0.20	0.35	1.15	(1.34)	2.40	(2.36)	13.79
UBER	1.88	0.23	0.10	0.20	2.29	(2.04)	4.19	(3.48)	16.18
F	1.71	0.11	0.04	0.14	2.24	(1.75)	2.90	(3.84)	13.07
T	1.14	0.08	0.03	0.29	1.79	(1.14)	2.01	(2.62)	8.83
A	1.77	(0.10)	0.00	(0.06)	0.00	0.00	2.76	(4.15)	14.45
CRM	1.59	(0.11)	0.00	(0.07)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.23	0.10	0.23	1.95	(1.38)	2.75	(2.12)	11.14
MRK	1.62	(0.26)	0.00	(0.35)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.29	0.02	0.00	0.05	2.27	(1.20)	2.62	(2.77)	10.53

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