Nuveen NASDAQ Correlations

QQQX Etf

USD 26.41 0.30 1.15%

The current 90-days correlation between Nuveen NASDAQ 100 and BlackRock Science and is 0.48 (i.e., Very weak diversification). The correlation of Nuveen 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.

Nuveen NASDAQ Correlation With Market

Very weak diversification

The correlation between Nuveen NASDAQ 100 and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen 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 Nuveen 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 Nuveen Etf

0.82	XOVR	SPDR BOFA MERRILL Symbol Change	Pair Corr
0.85	INC	Van Eck	Pair Corr
0.76	ALUM	US Commodity Funds	Pair Corr
0.94	BCHP	EGSHARES BLUE CHIP	Pair Corr
0.71	LETB	AdvisorShares	Pair Corr
0.91	SQY	Tidal Trust II	Pair Corr
0.92	APRJ	Innovator Premium Income	Pair Corr
0.91	JANW	AIM ETF Products	Pair Corr
0.98	XLG	Invesco SP 500	Pair Corr
0.94	ETHE	Grayscale Ethereum Trust	Pair Corr
0.97	BUFQ	FT Cboe Vest	Pair Corr
0.9	NUMG	Nuveen ESG Mid	Pair Corr
0.85	CPAI	Northern Lights	Pair Corr
0.93	SHV	iShares Short Treasury	Pair Corr
0.93	GPIX	Goldman Sachs SP	Pair Corr
0.9	QTUM	Defiance Quantum ETF	Pair Corr
0.82	Z	Zillow Group Class	Pair Corr
0.93	LOUP	Innovator Loup Frontier	Pair Corr
0.91	SCHB	Schwab Broad Market	Pair Corr
0.95	BULZ	MicroSectors Solactive	Pair Corr
0.82	VIRS	Pacer Financial	Pair Corr
0.72	AAPB	GraniteShares ETF Trust	Pair Corr
0.91	USFR	WisdomTree Floating Rate	Pair Corr
0.87	RXI	iShares Global Consumer	Pair Corr
0.93	SOFR	SOFR Symbol Change	Pair Corr
0.98	PGRO	Putnam Focused Large	Pair Corr
0.83	SHYL	Xtrackers Short Duration	Pair Corr
0.94	NERD	Roundhill Video Games	Pair Corr
0.96	JAJL	Innovator Equity Defined	Pair Corr
0.93	DJUL	FT Cboe Vest	Pair Corr
0.92	TSLP	Kurv Yield Premium	Pair Corr
0.94	ETH	Grayscale Ethereum Mini	Pair Corr
0.89	UPRO	ProShares UltraPro SP500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.69	-0.51	-0.41	0.48	0.27	0.58	0.3	-0.22	-0.44	META
MSFT	0.69		-0.6	-0.31	0.44	0.09	0.49	0.28	-0.08	-0.76	MSFT
UBER	-0.51	-0.6		0.39	-0.7	0.17	-0.75	-0.52	0.56	0.67	UBER
F	-0.41	-0.31	0.39		0.05	-0.28	0.01	0.34	-0.11	0.61	F
T	0.48	0.44	-0.7	0.05		-0.32	0.88	0.85	-0.72	-0.35	T
A	0.27	0.09	0.17	-0.28	-0.32		-0.32	-0.51	0.67	0.03	A
CRM	0.58	0.49	-0.75	0.01	0.88	-0.32		0.89	-0.8	-0.38	CRM
JPM	0.3	0.28	-0.52	0.34	0.85	-0.51	0.89		-0.84	-0.16	JPM
MRK	-0.22	-0.08	0.56	-0.11	-0.72	0.67	-0.8	-0.84		0.15	MRK
XOM	-0.44	-0.76	0.67	0.61	-0.35	0.03	-0.38	-0.16	0.15		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	+ 0.89	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
MSFT	+ 0.69	META
XOM	+ 0.67	UBER
MRK	+ 0.67	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.8	CRM
XOM	- 0.76	MSFT
CRM	- 0.75	UBER
MRK	- 0.72	T
T	- 0.7	UBER

Nuveen NASDAQ Competition Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen 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 Nuveen 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	1.16	0.06	0.03	0.15	1.43	(1.27)	2.62	(3.15)	7.43
MSFT	0.87	(0.02)	(0.02)	(0.01)	1.63	(0.78)	1.78	(2.23)	8.14
UBER	1.71	(0.32)	0.00	(0.34)	0.00	0.00	2.67	(5.35)	20.41
F	1.44	(0.15)	0.00	(0.08)	0.00	0.00	2.53	(2.90)	11.21
T	0.96	0.11	0.08	0.52	1.12	(1.02)	1.93	(1.99)	7.95
A	1.24	(0.09)	0.00	(0.16)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.48	0.37	0.23	0.30	1.30	(1.66)	3.18	(2.88)	14.80
JPM	1.04	0.16	0.14	0.11	1.08	(1.20)	1.99	(1.44)	15.87
MRK	0.96	(0.27)	0.00	(1.10)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.90	(0.14)	0.00	(0.43)	0.00	0.00	1.83	(2.14)	6.06

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