Invesco EQQQ Correlations

Etfs Germany . 
Etf . Invesco EQQQ NASDAQ 100
EQEU Etf  EUR 379.20  0.00  0.00%   
The current 90-days correlation between Invesco EQQQ NASDAQ and UBS Fund Solutions is 0.16 (i.e., Average diversification). The correlation of Invesco EQQQ 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.

Invesco EQQQ Correlation With Market

Significant diversification

The correlation between Invesco EQQQ NASDAQ 100 and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco EQQQ NASDAQ 100 and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Invesco EQQQ could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco EQQQ when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco EQQQ - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco EQQQ NASDAQ 100 to buy it.

Moving together with Invesco Etf

  0.62UIM5 UBS Fund SolutionsPairCorr
  0.61GQ9 SPDR Gold SharesPairCorr
  0.88VUSA Vanguard Funds PublicPairCorr
  0.88SXR8 iShares Core SPPairCorr
  0.91XBAK Xtrackers MSCI PakistanPairCorr
  0.77EXV1 iShares STOXX EuropePairCorr
  0.68DFEN VanEck Defense ETFPairCorr
  0.93T3KE HANetf ICAVPairCorr
  0.9V80A Vanguard Funds PLCPairCorr
  0.91XDWT Xtrackers MSCI WorldPairCorr
  0.79DBX4 Xtrackers MSCIPairCorr
  0.83VLUS BNP Paribas EasyPairCorr
  0.82C101 Lyxor Fed FundsPairCorr
  0.92SYBJ SSgA SPDR ETFsPairCorr
  0.88VGWL Vanguard FTSE AllPairCorr
  0.9US9L WisdomTree SP 500PairCorr
  0.87OUFE Ossiam Irl IcavPairCorr
  0.73TRDS Invesco Us TreasuryPairCorr
  0.9DBPG Xtrackers SPPairCorr
  0.89VWCE Vanguard FTSE AllPairCorr
  0.85GERD LG Gerd KommerPairCorr
  0.89UBU9 UBS plcPairCorr
  0.76E908 Lyxor 1PairCorr
  0.69DBPE Xtrackers LevDAXPairCorr

Moving against Invesco Etf

  0.77DES2 LG DAX DailyPairCorr
  0.74LYQL LYXOR DAILY SHORTDAXPairCorr
  0.73DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
CRM
+ 0.88
T
JPM
+ 0.88
CRM
JPM
+ 0.84
T
MSFT
+ 0.76
META
XOM
+ 0.71
UBER
MRK
+ 0.69
A
  
High negative correlations   
MRK
- 0.84
JPM
MRK
- 0.79
CRM
CRM
- 0.77
UBER
XOM
- 0.76
MSFT
T
- 0.72
UBER
MRK
- 0.7
T

Invesco EQQQ Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco EQQQ 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 Invesco EQQQ'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.21  0.10  0.05  0.23  1.41 
(1.36)
 2.62 
(3.15)
 7.43 
MSFT  0.86  0.00 (0.01) 0.03  1.61 
(0.78)
 1.78 
(2.23)
 8.14 
UBER  1.70 (0.29) 0.00 (0.30) 0.00 
 0.00 
 2.67 
(5.35)
 20.41 
F  1.45 (0.15) 0.00 (0.07) 0.00 
 0.00 
 2.53 
(2.90)
 11.21 
T  0.95  0.11  0.07  0.52  1.14 
(1.00)
 1.93 
(1.99)
 7.95 
A  1.23 (0.05) 0.00 (0.07) 0.00 
 0.00 
 2.71 
(2.42)
 9.02 
CRM  1.47  0.37  0.23  0.31  1.31 
(1.67)
 3.18 
(2.88)
 14.80 
JPM  1.06  0.16  0.15  0.13  1.09 
(1.25)
 1.99 
(1.44)
 15.87 
MRK  0.97 (0.23) 0.00 (0.89) 0.00 
 0.00 
 1.72 
(2.17)
 5.17 
XOM  0.87 (0.15) 0.00 (0.47) 0.00 
 0.00 
 1.83 
(2.14)
 6.06 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Invesco EQQQ without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Instant Ratings Now

   

Instant Ratings

Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance
All  Next Launch Module
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY