Correlation Analysis Between PowerShares QQQ and iShares Russell

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.
 Time Horizon     30 Days    Login   to change
Symbolsvs

PowerShares QQQ ETF  vs.  iShares Russell 1000 Growth ET

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  14,697  in iShares Russell 1000 Growth ETF on June 19, 2018 and sell it today you would earn a total of  301.00  from holding iShares Russell 1000 Growth ETF or generate 2.05% return on investment over 30 days.

Pair Corralation between PowerShares QQQ and iShares Russell

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy4.55%
ValuesDaily Returns

Diversification

Pay attention

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.

Comparative Volatility

PowerShares QQQ ETF  
0 

Risk-Adjusted Performance

Over the last 30 days PowerShares QQQ ETF has generated negative risk-adjusted returns adding no value to investors with long positions.
iShares Russell 1000  
8 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in iShares Russell 1000 Growth ETF are ranked lower than 8 (%) of all global equities and portfolios over the last 30 days.

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