Invesco QQQ Correlations

QQA Etf

52.22 1.40 2.61%

The current 90-days correlation between Invesco QQQ Income and Invesco Actively Managed is 0.6 (i.e., 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.

Invesco QQQ Correlation With Market

Poor diversification

The correlation between Invesco QQQ Income and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco QQQ Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco QQQ Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Invesco Etf

0.73	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.71	XYLD	Global X SP	Pair Corr
0.71	DIVO	Amplify CWP Enhanced	Pair Corr
0.84	RYLD	Global X Russell	Pair Corr
0.96	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.74	BUYW	Main Buywrite ETF	Pair Corr
0.77	IDME	International Drawdown	Pair Corr
0.84	CPST	Calamos ETF Trust	Pair Corr
0.88	ITDD	iShares Trust	Pair Corr
0.76	FENI	Fidelity Covington Trust	Pair Corr
0.64	FUSI	American Century ETF	Pair Corr
0.73	MEM	MAYBANK EMERGING ETF	Pair Corr
0.86	GQI	Natixis ETF Trust	Pair Corr
0.78	IWO	iShares Russell 2000	Pair Corr
0.9	VT	Vanguard Total World	Pair Corr
0.96	HDUS	Lattice Strategies Trust	Pair Corr
0.75	XLI	Industrial Select Sector Aggressive Push	Pair Corr
0.7	PDBC	Invesco Optimum Yield	Pair Corr
0.98	VV	Vanguard Large Cap	Pair Corr
0.83	QTUM	Defiance Quantum ETF	Pair Corr
0.77	KFEB	Innovator Small Cap	Pair Corr
0.69	XLF	Financial Select Sector	Pair Corr
0.69	FIVA	Fidelity International	Pair Corr
0.81	NVMZ	TrueShares Structured	Pair Corr
0.82	RYLG	Global X Russell	Pair Corr
0.76	USHY	iShares Broad USD	Pair Corr
0.74	DDX	Defined Duration Symbol Change	Pair Corr
0.94	HEGD	Swan Hedged Equity	Pair Corr
0.73	PBDC	Putnam ETF Trust	Pair Corr
0.98	ARLU	AIM ETF Products	Pair Corr
0.61	JPIE	JP Morgan Exchange	Pair Corr
0.82	CEFZ	RiverNorth Active Income	Pair Corr

Moving against Invesco Etf

0.47	PUTW	WisdomTree CBOE SP Symbol Change	Pair Corr
0.47	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	RSPA	WTAI	INDAX	IDOG	DECW	IDUB	PFUT	XDTE	GDE	GSEP
RSPA		0.25	-0.05	0.88	0.91	0.93	0.31	0.87	0.93	0.94	RSPA
WTAI	0.25		-0.05	0.07	0.17	0.39	0.58	0.41	0.14	0.42	WTAI
INDAX	-0.05	-0.05		-0.02	-0.06	0.01	0.06	-0.08	0.05	-0.02	INDAX
IDOG	0.88	0.07	-0.02		0.94	0.87	-0.06	0.88	0.85	0.87	IDOG
DECW	0.91	0.17	-0.06	0.94		0.86	0.05	0.96	0.86	0.95	DECW
IDUB	0.93	0.39	0.01	0.87	0.86		0.22	0.86	0.9	0.91	IDUB
PFUT	0.31	0.58	0.06	-0.06	0.05	0.22		0.18	0.2	0.3	PFUT
XDTE	0.87	0.41	-0.08	0.88	0.96	0.86	0.18		0.8	0.98	XDTE
GDE	0.93	0.14	0.05	0.85	0.86	0.9	0.2	0.8		0.86	GDE
GSEP	0.94	0.42	-0.02	0.87	0.95	0.91	0.3	0.98	0.86		GSEP
	RSPA	WTAI	INDAX	IDOG	DECW	IDUB	PFUT	XDTE	GDE	GSEP

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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

GSEP	+ 0.98	XDTE
XDTE	+ 0.96	DECW
GSEP	+ 0.95	DECW
GSEP	+ 0.94	RSPA
DECW	+ 0.94	IDOG
IDUB	+ 0.93	RSPA

High negative correlations

XDTE	- 0.08	INDAX
PFUT	- 0.06	IDOG
DECW	- 0.06	INDAX
INDAX	- 0.05	WTAI
INDAX	- 0.05	RSPA
GSEP	- 0.02	INDAX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RSPA	0.46	0.00	(0.05)	0.09	0.50	(0.46)	0.99	(0.95)	2.90
WTAI	1.20	(0.05)	(0.02)	0.05	1.74	(1.17)	2.18	(3.52)	7.01
INDAX	0.53	(0.02)	(0.13)	(0.06)	0.72	(0.52)	1.02	(1.00)	3.66
IDOG	0.53	0.08	0.07	0.24	0.38	(0.61)	1.22	(0.89)	2.57
DECW	0.24	0.02	(0.14)	0.15	0.08	(0.27)	0.58	(0.45)	1.74
IDUB	0.48	0.07	0.05	0.20	0.40	(0.56)	1.11	(1.08)	3.11
PFUT	0.74	(0.13)	0.00	(0.04)	0.00	0.00	1.25	(1.87)	3.53
XDTE	0.51	0.02	0.00	0.12	0.61	(0.51)	1.09	(1.10)	2.97
GDE	1.17	0.09	0.05	0.17	1.64	(1.18)	2.71	(2.55)	9.98
GSEP	0.27	0.00	(0.14)	0.09	0.26	(0.28)	0.60	(0.62)	1.44

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