IShares Nasdaq Correlations

QTOP Etf

31.77 0.67 2.07%

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

Poor diversification

The correlation between iShares Nasdaq Top and DJI is 0.61 (i.e., Poor 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.

Build AI portfolio with IShares Etf

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 producer price index.

Moving together with IShares Etf

0.94	VUG	Vanguard Growth Index	Pair Corr
0.98	IWF	iShares Russell 1000	Pair Corr
0.92	IVW	iShares SP 500	Pair Corr
0.98	SPYG	SPDR Portfolio SP	Pair Corr
0.97	IUSG	iShares Core SP	Pair Corr
0.98	VONG	Vanguard Russell 1000	Pair Corr
1.0	MGK	Vanguard Mega Cap	Pair Corr
0.98	VRGWX	Vanguard Russell 1000	Pair Corr
0.95	QQQM	Invesco NASDAQ 100	Pair Corr
0.99	IWY	iShares Russell Top	Pair Corr
0.97	MAGS	Roundhill Magnificent	Pair Corr
0.91	ARP	Advisors Inner Circle	Pair Corr
0.75	ENTR	ERShares Entrepreneurs	Pair Corr
0.91	PLT	Defiance Leveraged Long	Pair Corr
0.98	SEMI	Columbia Seligman	Pair Corr
0.87	RVNU	Xtrackers Municipal	Pair Corr
0.84	YFYA	Listed Funds Trust	Pair Corr
0.63	SGDJ	Sprott Junior Gold	Pair Corr
0.93	VGT	Vanguard Information	Pair Corr
0.92	XCEM	Columbia EM Core	Pair Corr
0.86	CAT	Caterpillar	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.74	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.76	AXP	American Express	Pair Corr
0.84	INTC	Intel	Pair Corr

Moving against IShares Etf

0.77	PG	Procter Gamble	Pair Corr
0.69	DIS	Walt Disney	Pair Corr
0.68	BA	Boeing Sell-off Trend	Pair Corr
0.36	CVX	Chevron Corp	Pair Corr
0.32	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.12	0.24	-0.73	0.74	-0.72	-0.06	-0.47	-0.57	-0.57	META
MSFT	0.12		0.35	0.28	-0.43	0.37	0.18	0.12	0.24	0.12	MSFT
UBER	0.24	0.35		-0.11	0.08	-0.17	-0.02	0.38	-0.31	0.08	UBER
F	-0.73	0.28	-0.11		-0.76	0.8	0.27	0.47	0.61	0.7	F
T	0.74	-0.43	0.08	-0.76		-0.92	-0.23	-0.38	-0.59	-0.52	T
A	-0.72	0.37	-0.17	0.8	-0.92		0.24	0.43	0.69	0.6	A
CRM	-0.06	0.18	-0.02	0.27	-0.23	0.24		-0.18	0.04	0.12	CRM
JPM	-0.47	0.12	0.38	0.47	-0.38	0.43	-0.18		0.03	0.69	JPM
MRK	-0.57	0.24	-0.31	0.61	-0.59	0.69	0.04	0.03		0.35	MRK
XOM	-0.57	0.12	0.08	0.7	-0.52	0.6	0.12	0.69	0.35		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

A	+ 0.8	F
T	+ 0.74	META
XOM	+ 0.7	F
MRK	+ 0.69	A
XOM	+ 0.69	JPM
MRK	+ 0.61	F

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.73	META
A	- 0.72	META
MRK	- 0.59	T
XOM	- 0.57	META

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	1.28	(0.43)	0.00	(0.40)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.78	(0.09)	0.00	(0.05)	0.00	0.00	1.85	(1.98)	5.08
UBER	1.43	(0.05)	(0.03)	0.01	1.81	(1.55)	3.34	(2.71)	9.09
F	1.38	0.15	0.11	0.17	1.46	(1.62)	3.66	(1.73)	16.30
T	0.97	(0.18)	0.00	(0.67)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.24	0.18	0.25	1.07	(1.46)	3.82	(2.15)	11.03
CRM	1.55	0.01	0.01	0.08	2.21	(1.47)	3.59	(3.61)	9.91
JPM	0.86	(0.02)	(0.01)	0.05	1.30	(0.79)	1.67	(1.91)	5.76
MRK	1.22	0.15	0.10	0.30	1.14	(1.48)	1.80	(2.36)	11.45
XOM	0.88	0.16	0.09	0.63	1.04	(0.87)	1.78	(1.93)	4.71

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