This module allows you to analyze existing cross correlation between PowerShares QQQ ETF and iShares Russell 1000 Growth ETF. You can compare the effects of market volatilities on PowerShares QQQ and iShares Russell and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in PowerShares QQQ with a short position of iShares Russell. See also your portfolio center
. Please also check ongoing floating volatility patterns of PowerShares QQQ
and iShares Russell
PowerShares QQQ ETF vs iShares Russell 1000 Growth ET
Considering 30-days investment horizon, PowerShares QQQ ETF is expected to generate 1.23 times more return on investment than iShares Russell. However, PowerShares QQQ is 1.23 times more volatile than iShares Russell 1000 Growth ETF. It trades about 0.05 of its potential returns per unit of risk. iShares Russell 1000 Growth ETF is currently generating about 0.04 per unit of risk. If you would invest 16,523 in PowerShares QQQ ETF on February 20, 2018 and sell it today you would earn a total of 169.00 from holding PowerShares QQQ ETF or generate 1.02% return on investment over 30 days.
|Time Period||1 Month [change]|
Almost no diversification
Overlapping area represents the amount of risk that can be diversified away by holding PowerShares QQQ ETF and iShares Russell 1000 Growth ET in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on iShares Russell 1000 and PowerShares QQQ is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on PowerShares QQQ ETF are associated (or correlated) with iShares Russell. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Russell 1000 has no effect on the direction of PowerShares QQQ i.e. PowerShares QQQ and iShares Russell go up and down completely randomly.
Compared to the overall equity markets, risk-adjusted returns on investments in PowerShares QQQ ETF are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days.
Compared to the overall equity markets, risk-adjusted returns on investments in iShares Russell 1000 Growth ETF are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days.