Invesco NASDAQ Correlations

Etfs . USA . 
Etf . Invesco NASDAQ Future
QQQS Etf  USD 27.96  0.26  0.92%   
The current 90-days correlation between Invesco NASDAQ Future and ProShares Nasdaq 100 Dorsey is 0.56 (i.e., Very weak diversification). The correlation of Invesco NASDAQ 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco NASDAQ Correlation With Market

Poor diversification

The correlation between Invesco NASDAQ Future and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco NASDAQ Future and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco NASDAQ Future. 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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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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