Invesco NASDAQ Correlations

QQQJ Etf

USD 33.11 0.41 1.25%

The current 90-days correlation between Invesco NASDAQ Next and Invesco NASDAQ 100 is 0.72 (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 0.64 (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.

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 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.

Moving together with Invesco Etf

0.85	VOT	Vanguard Mid Cap	Pair Corr
0.98	IWP	iShares Russell Mid	Pair Corr
0.84	ARKK	ARK Innovation ETF Aggressive Push	Pair Corr
0.82	IJK	iShares SP Mid	Pair Corr
0.98	KOMP	SPDR Kensho New	Pair Corr
0.98	MDYG	SPDR SP 400	Pair Corr
0.84	IMCG	iShares Morningstar Mid	Pair Corr
0.97	FPX	First Trust Equity	Pair Corr
0.83	IVOG	Vanguard SP Mid	Pair Corr
0.74	BTCL	T Rex 2X Low Volatility	Pair Corr
0.75	BITU	ProShares Trust	Pair Corr
0.75	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.74	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.84	DFEN	Direxion Daily Aerospace	Pair Corr
0.7	KGRN	KraneShares MSCI China	Pair Corr
0.76	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.79	PFUT	Putnam Sustainable Future	Pair Corr
0.85	BUFD	FT Cboe Vest	Pair Corr

Moving against Invesco Etf

0.75

WTID

UBS ETRACS

Pair Corr

Related Correlations Analysis

	QQQM	WCLD	CLOU	IPO	ARKF
QQQM		0.76	0.72	0.83	0.7	QQQM
WCLD	0.76		0.79	0.68	0.44	WCLD
CLOU	0.72	0.79		0.9	0.39	CLOU
IPO	0.83	0.68	0.9		0.53	IPO
ARKF	0.7	0.44	0.39	0.53		ARKF
	QQQM	WCLD	CLOU	IPO	ARKF

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QQQM	0.68	0.22	0.25	0.50	0.00	(0.82)	1.56	(0.96)	5.43
WCLD	1.00	0.05	0.01	0.23	1.08	(1.10)	2.04	(2.47)	7.43
CLOU	0.92	0.06	0.01	0.24	0.99	(0.98)	1.95	(2.21)	7.26
IPO	0.94	0.18	0.12	0.43	0.75	(1.03)	2.21	(1.50)	6.33
ARKF	1.44	0.75	0.48	3.36	0.56	(1.80)	4.24	(1.84)	8.27

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