IShares NASDAQ Correlations

Etfs . Switzerland . 
Etf . iShares NASDAQ 100
CSNDX Etf  USD 1,323  18.20  1.36%   
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

Weak diversification

The correlation between iShares NASDAQ 100 and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares NASDAQ 100 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 100 to buy it.

Moving together with IShares Etf

  0.85VUSA Vanguard SP 500PairCorr
  0.91CSNKY iShares VII PLCPairCorr
  1.0CSSPX iShares Core SPPairCorr
  0.9LYJPN Lyxor Japan UCITSPairCorr
  0.97EIMI iShares Core MSCIPairCorr
  1.0IUSA iShares SP 500PairCorr
  0.64IEAC iShares Core CorpPairCorr
  0.8EMVEUA UBSFund Solutions MSCIPairCorr
  0.87VOLT WisdomTree BatteryPairCorr
  0.76SX7EEX iShares EURO STOXXPairCorr
  0.98HIUA HSBC MSCI USAPairCorr
  0.66V3GX Vanguard Funds PLCPairCorr
  0.91HYFA Invesco High YieldPairCorr
  0.82AETHUSD 21Shares Ethereum ETPPairCorr
  0.94JPSA JPM USD UltraPairCorr
  0.82AETH-USD 21Shares Ethereum StakingPairCorr
  0.67CC1E Amundi Index SolutionsPairCorr
  0.87WRDUSY UBS ETF plcPairCorr
  0.99XD9D Xtrackers MSCI USAPairCorr
  0.99WTEC SPDR MSCI WorldPairCorr
  0.87TRYP HanETF ICAVPairCorr
  0.85S6EW Ossiam STOXX EuropePairCorr
  0.92GHYC iShares Global HighPairCorr
  0.9CNEW VanEck New ChinaPairCorr
  0.89EVAL SPDR MSCI EuropePairCorr
  0.91XDWL Xtrackers MSCI WorldPairCorr
  0.97CSEMAS iShares VII PLCPairCorr
  0.91SPMCHA UBS ETF SPIPairCorr
  0.94IDP6 iShares SP SmallCapPairCorr
  0.87IASP iShares Asia PropertyPairCorr
  0.98XMAW Xtrackers MSCI ACPairCorr

Moving against IShares Etf

  0.6XSDX Xtrackers ShortDAX DailyPairCorr

Related Correlations Analysis

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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
+ 0.95
MSFT
MSFT
+ 0.94
META
JPM
+ 0.87
META
A
+ 0.83
META
F
+ 0.83
UBER
JPM
+ 0.83
F
  
High negative correlations   
CRM
- 0.49
MSFT
MRK
- 0.47
CRM
CRM
- 0.46
META
JPM
- 0.4
CRM
XOM
- 0.39
CRM
CRM
- 0.27
A

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.53  0.36  0.28  0.44  0.89 
(1.90)
 4.23 
(2.35)
 10.48 
MSFT  0.79  0.37  0.47  0.74  0.00 
(0.95)
 2.33 
(1.03)
 8.85 
UBER  1.48  0.04  0.03  0.14  1.54 
(1.73)
 4.11 
(2.54)
 11.37 
F  1.35  0.03  0.01  0.14  1.55 
(1.37)
 2.63 
(2.33)
 7.46 
T  0.91  0.03 (0.06) 0.54  1.11 
(0.98)
 2.03 
(2.13)
 5.71 
A  1.49 (0.10) 0.00  0.05  1.87 
(1.55)
 2.82 
(2.89)
 14.01 
CRM  1.17 (0.23) 0.00 (0.07) 0.00 
 0.00 
 2.13 
(2.94)
 8.50 
JPM  0.84  0.16  0.14  0.26  0.76 
(0.92)
 1.86 
(1.36)
 5.90 
MRK  1.43 (0.21) 0.00 (0.06) 0.00 
 0.00 
 2.90 
(4.13)
 10.58 
XOM  1.09  0.01 (0.05) 0.16  1.46 
(1.04)
 2.14 
(2.58)
 6.26 

Be your own money manager

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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