Invesco QQQ Correlations

QQQ Etf

USD 480.84 1.58 0.33%

The current 90-days correlation between Invesco QQQ Trust and iShares Russell 2000 is 0.81 (i.e., Very poor diversification). The correlation of Invesco QQQ 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco QQQ Correlation With Market

Poor diversification

The correlation between Invesco QQQ Trust and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco QQQ Trust 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 QQQ Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Invesco Etf

0.99	VUG	Vanguard Growth Index	Pair Corr
0.99	IWF	iShares Russell 1000	Pair Corr
0.99	IVW	iShares SP 500	Pair Corr
0.89	SPYG	SPDR Portfolio SP	Pair Corr
0.89	IUSG	iShares Core SP	Pair Corr
0.99	VONG	Vanguard Russell 1000	Pair Corr
0.99	MGK	Vanguard Mega Cap	Pair Corr
0.99	VRGWX	Vanguard Russell 1000	Pair Corr
1.0	QQQM	Invesco NASDAQ 100	Pair Corr
0.98	IWY	iShares Russell Top	Pair Corr
0.99	UPRO	ProShares UltraPro SP500	Pair Corr
0.9	QTJA	Innovator ETFs Trust	Pair Corr
0.99	QTOC	Innovator ETFs Trust	Pair Corr
0.96	XTOC	Innovator ETFs Trust	Pair Corr
0.66	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.94	XTJA	Innovator ETFs Trust	Pair Corr
0.77	BAC	Bank of America Sell-off Trend	Pair Corr
0.82	AXP	American Express Sell-off Trend	Pair Corr
0.61	DIS	Walt Disney	Pair Corr
0.68	HD	Home Depot	Pair Corr

Moving against Invesco Etf

0.5	VZ	Verizon Communications	Pair Corr
0.33	PG	Procter Gamble	Pair Corr
0.33	MRK	Merck Company	Pair Corr
0.33	JNJ	Johnson Johnson	Pair Corr
0.31	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	SPY	VOO	IWM	DIA	IVV	QLD
SPY		0.82	0.79	0.81	1.0	0.82	SPY
VOO	0.82		0.89	0.84	0.82	0.89	VOO
IWM	0.79	0.89		0.8	0.79	0.94	IWM
DIA	0.81	0.84	0.8		0.81	0.79	DIA
IVV	1.0	0.82	0.79	0.81		0.82	IVV
QLD	0.82	0.89	0.94	0.79	0.82		QLD
	SPY	VOO	IWM	DIA	IVV	QLD

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Invesco QQQ Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco QQQ 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 QQQ'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SPY	0.81	(0.05)	(0.12)	1.25	(1.75)	4.48
VOO	0.77	(0.09)	1.87	1.29	(1.70)	4.47
IWM	0.92	(0.07)	(0.14)	1.56	(2.20)	4.85
DIA	0.67	0.02	(0.05)	1.24	(1.51)	3.71
IVV	0.80	(0.04)	(0.12)	1.22	(1.73)	4.42
QLD	2.09	(0.17)	(0.16)	3.27	(5.50)	12.09

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