Correlation
The correlation between ^NBI and ^IXIC is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
^NBI vs. ^IXIC
Compare and contrast key facts about NASDAQ Biotechnology Index (^NBI) and NASDAQ Composite (^IXIC).
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ^NBI or ^IXIC.
Performance
^NBI vs. ^IXIC - Performance Comparison
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Key characteristics
^NBI:
-0.31
^IXIC:
0.55
^NBI:
-0.25
^IXIC:
0.84
^NBI:
0.97
^IXIC:
1.12
^NBI:
-0.20
^IXIC:
0.51
^NBI:
-0.69
^IXIC:
1.64
^NBI:
9.38%
^IXIC:
7.49%
^NBI:
22.68%
^IXIC:
26.12%
^NBI:
-74.70%
^IXIC:
-77.93%
^NBI:
-25.52%
^IXIC:
-5.25%
Returns By Period
In the year-to-date period, ^NBI achieves a -5.37% return, which is significantly lower than ^IXIC's -1.02% return. Over the past 10 years, ^NBI has underperformed ^IXIC with an annualized return of 0.70%, while ^IXIC has yielded a comparatively higher 14.18% annualized return.
^NBI
-5.37%
-3.09%
-12.18%
-7.32%
3.20%
-0.72%
0.70%
^IXIC
-1.02%
7.92%
-0.54%
14.21%
16.52%
15.03%
14.18%
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Risk-Adjusted Performance
^NBI vs. ^IXIC — Risk-Adjusted Performance Rank
^NBI
^IXIC
^NBI vs. ^IXIC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ Biotechnology Index (^NBI) and NASDAQ Composite (^IXIC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Drawdowns
^NBI vs. ^IXIC - Drawdown Comparison
The maximum ^NBI drawdown since its inception was -74.70%, roughly equal to the maximum ^IXIC drawdown of -77.93%. Use the drawdown chart below to compare losses from any high point for ^NBI and ^IXIC.
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Volatility
^NBI vs. ^IXIC - Volatility Comparison
NASDAQ Biotechnology Index (^NBI) has a higher volatility of 10.08% compared to NASDAQ Composite (^IXIC) at 6.00%. This indicates that ^NBI's price experiences larger fluctuations and is considered to be riskier than ^IXIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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