Invesco NASDAQ Correlations

Etfs . USA . 
Etf . Invesco NASDAQ 100
QQQM Etf  USD 231.05  0.20  0.09%   
The current 90-days correlation between Invesco NASDAQ 100 and Invesco NASDAQ Next is 0.87 (i.e., Very 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

Very poor diversification

The correlation between Invesco NASDAQ 100 and DJI is 0.83 (i.e., Very poor 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.
  
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 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

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Moving against Invesco Etf

  0.66MCD McDonaldsPairCorr
  0.49PG Procter GamblePairCorr

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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