NEOS Nasdaq Correlations

QQQI Etf

49.12 0.62 1.28%

The current 90-days correlation between NEOS Nasdaq 100 and Tidal Trust II is -0.74 (i.e., Pay attention - limited upside). 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

Good diversification

The correlation between NEOS Nasdaq 100 and DJI is -0.1 (i.e., Good 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

0.69	JEPI	JPMorgan Equity Premium	Pair Corr
0.97	XYLD	Global X SP	Pair Corr
0.7	DIVO	Amplify CWP Enhanced	Pair Corr
0.96	RYLD	Global X Russell	Pair Corr
1.0	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.75	BUYW	Main Buywrite ETF	Pair Corr
0.98	UPRO	ProShares UltraPro SP500	Pair Corr
0.99	QTJA	Innovator ETFs Trust	Pair Corr
1.0	QTOC	Innovator ETFs Trust	Pair Corr
0.98	XTOC	Innovator ETFs Trust	Pair Corr
0.83	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.96	XTJA	Innovator ETFs Trust	Pair Corr
0.63	XTAP	Innovator Equity Acc	Pair Corr
0.75	BAC	Bank of America Aggressive Push	Pair Corr
0.77	BA	Boeing	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.8	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.68	WMT	Walmart	Pair Corr

Moving against NEOS Etf

0.53	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.39	MRK	Merck Company	Pair Corr
0.36	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.07	0.61	-0.52	0.35	0.4	0.23	0.9	-0.75	0.03	META
MSFT	-0.07		-0.63	0.16	-0.79	0.68	0.89	0.07	0.46	-0.47	MSFT
UBER	0.61	-0.63		-0.4	0.8	-0.24	-0.54	0.55	-0.85	0.5	UBER
F	-0.52	0.16	-0.4		-0.1	0.01	-0.01	-0.39	0.58	0.29	F
T	0.35	-0.79	0.8	-0.1		-0.56	-0.7	0.2	-0.66	0.55	T
A	0.4	0.68	-0.24	0.01	-0.56		0.77	0.61	0.11	-0.25	A
CRM	0.23	0.89	-0.54	-0.01	-0.7	0.77		0.3	0.26	-0.52	CRM
JPM	0.9	0.07	0.55	-0.39	0.2	0.61	0.3		-0.64	0.09	JPM
MRK	-0.75	0.46	-0.85	0.58	-0.66	0.11	0.26	-0.64		-0.3	MRK
XOM	0.03	-0.47	0.5	0.29	0.55	-0.25	-0.52	0.09	-0.3		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	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.77	A
A	+ 0.68	MSFT
UBER	+ 0.61	META

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.7	T
MRK	- 0.66	T
MRK	- 0.64	JPM

NEOS Nasdaq Competition 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
META	1.59	(0.03)	0.00	(0.10)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.10	(0.17)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.89	0.35	0.16	0.60	2.15	(2.04)	4.72	(3.13)	12.75
F	1.47	0.08	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.05	0.27	0.17	0.42	1.61	(1.12)	1.90	(1.75)	11.66
A	1.16	(0.17)	0.00	(0.26)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.29)	0.00	(0.33)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.07	0.04	(0.01)	1.72	(1.04)	1.99	(3.35)	6.85
MRK	1.15	(0.08)	0.00	1.02	0.00	0.00	2.07	(1.80)	11.58
XOM	1.07	0.10	0.10	0.15	1.40	(1.08)	2.55	(2.36)	5.89

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