| HNDL Etf | | | USD 21.56 0.08 0.37% |
The current 90-days correlation between Strategy Shares Nasdaq and First Trust Multi Asset is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares Nasdaq moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Strategy Shares Correlation With Market
Poor diversification
The correlation between Strategy Shares Nasdaq and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares Nasdaq and DJI in the same portfolio, assuming nothing else is changed.
Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Strategy Shares Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in unemployment.
For more information on how to buy Strategy Etf please use our
How to buy in Strategy Etf guide.