Invesco NASDAQ Correlations

Etfs . USA . 
Etf . Invesco NASDAQ 100
QQQM Etf  USD 221.56  0.95  0.43%   
The current 90-days correlation between Invesco NASDAQ 100 and Invesco NASDAQ Next is 0.74 (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 100 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco NASDAQ Correlation With Market

Modest diversification

The correlation between Invesco NASDAQ 100 and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco NASDAQ 100 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 100. 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

  0.98VUG Vanguard Growth IndexPairCorr
  0.98IWF iShares Russell 1000PairCorr
  0.97IVW iShares SP 500PairCorr
  0.97SPYG SPDR Portfolio SPPairCorr
  0.97IUSG iShares Core SPPairCorr
  0.98VONG Vanguard Russell 1000PairCorr
  0.97MGK Vanguard Mega CapPairCorr
  0.98VRGWX Vanguard Russell 1000PairCorr
  0.95IWY iShares Russell TopPairCorr
  0.7BA BoeingPairCorr
  0.7WMT Walmart Earnings Call This WeekPairCorr

Moving against Invesco Etf

  0.46HPQ HP IncPairCorr
  0.57XOM Exxon Mobil CorpPairCorr
  0.5AA Alcoa CorpPairCorr
  0.43TRV The Travelers CompaniesPairCorr
  0.39INTC Intel Aggressive PushPairCorr
  0.38MRK Merck CompanyPairCorr
  0.32CVX Chevron CorpPairCorr

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   
SPLG
+ 0.91
QQQJ
SPYG
+ 0.75
SPLG
SPYG
+ 0.7
QQQJ
SOXX
+ 0.54
SPYG
SOXX
+ 0.38
SPLG
SOXX
+ 0.34
QQQJ
  
High negative correlations   
SCHD
- 0.39
SPYG
SOXX
- 0.12
SCHD

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.

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