| QQQA Etf | | | USD 44.73 0.68 1.54% |
The current 90-days correlation between ProShares Nasdaq 100 and Invesco ESG NASDAQ is 0.72 (i.e., Poor diversification). The correlation of ProShares 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.
ProShares Nasdaq Correlation With Market
Poor diversification
The correlation between ProShares Nasdaq 100 Dorsey and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Nasdaq 100 Dorsey and DJI in the same portfolio, assuming nothing else is changed.
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Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Nasdaq 100 Dorsey. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in employment.