Invesco ESG Correlations

QQJG Etf

USD 22.69 0.10 0.44%

The current 90-days correlation between Invesco ESG NASDAQ and Invesco ESG NASDAQ is -0.22 (i.e., Very good diversification). The correlation of Invesco ESG 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 ESG Correlation With Market

Poor diversification

The correlation between Invesco ESG NASDAQ and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco ESG NASDAQ and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco ESG 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 inflation.

Moving together with Invesco Etf

0.96	VOT	Vanguard Mid Cap	Pair Corr
0.97	IWP	iShares Russell Mid	Pair Corr
0.98	ARKK	ARK Innovation ETF	Pair Corr
0.95	IJK	iShares SP Mid	Pair Corr
0.98	JKH	iShares Morningstar Mid	Pair Corr
0.98	KOMP	SPDR Kensho New	Pair Corr
0.95	MDYG	SPDR SP 400	Pair Corr
0.98	IMCG	iShares Morningstar Mid	Pair Corr
0.92	FPX	First Trust Equity	Pair Corr
0.95	IVOG	Vanguard SP Mid	Pair Corr
0.96	MPAY	Akros Monthly Payout	Pair Corr
0.91	CPST	Calamos ETF Trust	Pair Corr
0.7	BA	Boeing	Pair Corr
0.69	WMT	Walmart Aggressive Push	Pair Corr
0.83	JPM	JPMorgan Chase	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.83	BAC	Bank of America Sell-off Trend	Pair Corr
0.61	DIS	Walt Disney	Pair Corr

Moving against Invesco Etf

0.85	BITI	ProShares Trust	Pair Corr
0.54	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.49	PULS	PGIM Ultra Short	Pair Corr
0.54	TRV	The Travelers Companies	Pair Corr
0.51	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Invesco ESG Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco ESG 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 ESG'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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