Invesco NASDAQ Correlations

Etfs . USA . 
Etf . Invesco NASDAQ Next
QQQJ Etf  USD 32.27  0.15  0.47%   
The current 90-days correlation between Invesco NASDAQ Next and Invesco NASDAQ 100 is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco NASDAQ moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco NASDAQ Next moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco NASDAQ Correlation With Market

Poor diversification

The correlation between Invesco NASDAQ Next 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 Invesco NASDAQ Next 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 NASDAQ Next. 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.

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Moving against Invesco Etf

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  0.68KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr

Related Correlations Analysis

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Invesco NASDAQ Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco NASDAQ 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 NASDAQ'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.

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