IShares Nasdaq Correlations

BTEC Etf

6.44 0.07 1.08%

The current 90-days correlation between iShares Nasdaq Biote and iShares MSCI Japan is 0.49 (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

Significant diversification

The correlation between iShares Nasdaq Biotechnology and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Nasdaq Biotechnology and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares Nasdaq could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Nasdaq when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IShares Nasdaq - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling iShares Nasdaq Biotechnology to buy it.

Moving together with IShares Etf

0.65	XD5D	db x trackers	Pair Corr
0.63	EUXS	iShares MSCI Europe	Pair Corr
0.63	EMLI	PIMCO Emerging Markets	Pair Corr
0.74	XZ2G	Xtrackers ESG USD	Pair Corr
0.66	FHYG	Fidelity Sustainable	Pair Corr
0.66	HYGU	iShares High Yield	Pair Corr
0.7	BUYB	Invesco Global Buyback	Pair Corr
0.66	FLXB	Franklin FTSE Brazil	Pair Corr

Moving against IShares Etf

0.74	NGAS	WisdomTree Natural Gas	Pair Corr
0.4	2AMD	Leverage Shares 2x	Pair Corr
0.62	JADV	JPMORGAN ETFS ICAV	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.01	0.57	-0.52	0.29	0.43	0.3	0.91	-0.73	-0.04	META
MSFT	-0.01		-0.6	-0.02	-0.8	0.72	0.88	0.12	0.42	-0.56	MSFT
UBER	0.57	-0.6		-0.23	0.81	-0.28	-0.52	0.54	-0.84	0.57	UBER
F	-0.52	-0.02	-0.23		0.06	-0.14	-0.2	-0.41	0.44	0.42	F
T	0.29	-0.8	0.81	0.06		-0.6	-0.72	0.19	-0.65	0.61	T
A	0.43	0.72	-0.28	-0.14	-0.6		0.82	0.57	0.13	-0.38	A
CRM	0.3	0.88	-0.52	-0.2	-0.72	0.82		0.35	0.22	-0.62	CRM
JPM	0.91	0.12	0.54	-0.41	0.19	0.57	0.35		-0.63	0.0	JPM
MRK	-0.73	0.42	-0.84	0.44	-0.65	0.13	0.22	-0.63		-0.35	MRK
XOM	-0.04	-0.56	0.57	0.42	0.61	-0.38	-0.62	0.0	-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

JPM	+ 0.91	META
CRM	+ 0.88	MSFT
CRM	+ 0.82	A
T	+ 0.81	UBER
A	+ 0.72	MSFT
XOM	+ 0.61	T

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.73	META
CRM	- 0.72	T
MRK	- 0.65	T
MRK	- 0.63	JPM

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	1.63	0.03	0.01	0.02	2.30	(1.45)	2.96	(3.73)	8.90
MSFT	1.11	(0.21)	0.00	(0.24)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.15	0.55	2.08	(2.07)	4.72	(3.13)	12.75
F	1.44	0.10	0.05	0.09	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	0.54	1.45	(1.12)	1.90	(1.55)	11.66
A	1.16	(0.19)	0.00	(0.18)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.24)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.06	0.03	0.24	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.24	(0.18)	0.00	1.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.03	0.13	0.09	0.29	1.29	(1.05)	2.55	(2.36)	5.89

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Our tools can tell you how much better you can do entering a position in IShares Nasdaq without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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