Invesco QQQ Correlations

QQA Etf

53.64 0.24 0.45%

The current 90-days correlation between Invesco QQQ Income and Invesco Actively Managed is 0.69 (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 0.7 (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 producer price index.

Moving together with Invesco Etf

0.72	JEPI	JPMorgan Equity Premium	Pair Corr
0.75	XYLD	Global X SP	Pair Corr
0.81	DIVO	Amplify CWP Enhanced	Pair Corr
0.89	RYLD	Global X Russell	Pair Corr
0.97	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.76	BUYW	Main Buywrite ETF	Pair Corr
0.84	IDME	International Drawdown	Pair Corr
0.79	MUU	Direxion Daily MU Trending	Pair Corr
0.8	MULL	GraniteShares 2x Long Trending	Pair Corr
0.8	KORU	Direxion Daily South	Pair Corr
0.85	HEZU	iShares Currency Hedged	Pair Corr
0.87	VONG	Vanguard Russell 1000	Pair Corr
0.61	MYCI	SPDR SSGA My2029	Pair Corr
0.72	HYSD	Columbia ETF Trust	Pair Corr
0.96	QQQM	Invesco NASDAQ 100	Pair Corr
0.63	IBTG	iShares iBonds Dec	Pair Corr
0.97	VOO	Vanguard SP 500	Pair Corr
0.8	CPSU	Calamos SP 500	Pair Corr
0.89	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.9	QLC	FlexShares Quality Large	Pair Corr
0.81	PBJA	PGIM Rock ETF	Pair Corr
0.8	ZJAN	Innovator Equity Defined	Pair Corr
0.84	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.93	ITDJ	iShares Trust	Pair Corr

Related Correlations Analysis

	RSPA	WTAI	INDAX	IDOG	DECW	IDUB	PFUT	XDTE	GDE	GSEP
RSPA		0.16	0.18	0.72	0.81	0.87	0.34	0.79	0.76	0.88	RSPA
WTAI	0.16		0.22	0.09	0.19	0.43	0.48	0.42	0.18	0.44	WTAI
INDAX	0.18	0.22		0.42	0.36	0.38	-0.1	0.3	0.54	0.29	INDAX
IDOG	0.72	0.09	0.42		0.93	0.81	-0.26	0.85	0.83	0.8	IDOG
DECW	0.81	0.19	0.36	0.93		0.82	-0.11	0.95	0.83	0.91	DECW
IDUB	0.87	0.43	0.38	0.81	0.82		0.24	0.86	0.8	0.92	IDUB
PFUT	0.34	0.48	-0.1	-0.26	-0.11	0.24		0.05	0.02	0.23	PFUT
XDTE	0.79	0.42	0.3	0.85	0.95	0.86	0.05		0.73	0.97	XDTE
GDE	0.76	0.18	0.54	0.83	0.83	0.8	0.02	0.73		0.76	GDE
GSEP	0.88	0.44	0.29	0.8	0.91	0.92	0.23	0.97	0.76		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	+ 0.97	XDTE
XDTE	+ 0.95	DECW
DECW	+ 0.93	IDOG
GSEP	+ 0.92	IDUB
GSEP	+ 0.91	DECW
GSEP	+ 0.88	RSPA

High negative correlations

PFUT	- 0.26	IDOG
PFUT	- 0.11	DECW
PFUT	- 0.1	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	0.48	0.00	(0.03)	0.07	0.65	(0.47)	1.08	(0.99)	2.95
WTAI	1.37	(0.05)	(0.01)	0.04	1.91	(1.40)	2.33	(3.59)	8.24
INDAX	0.55	0.02	(0.05)	0.21	0.69	(0.56)	1.02	(1.23)	3.66
IDOG	0.55	0.08	0.09	0.21	0.42	(0.62)	1.27	(0.93)	2.76
DECW	0.26	0.02	(0.07)	0.12	0.21	(0.29)	0.72	(0.45)	1.79
IDUB	0.51	0.02	0.00	0.09	0.64	(0.53)	0.95	(1.17)	3.07
PFUT	0.78	(0.10)	0.00	(0.02)	0.00	0.00	1.27	(1.94)	4.12
XDTE	0.56	0.00	0.00	0.08	0.79	(0.54)	1.22	(1.14)	3.30
GDE	1.17	0.21	0.12	0.26	1.48	(1.24)	2.72	(1.95)	9.94
GSEP	0.29	0.00	(0.09)	0.07	0.37	(0.29)	0.63	(0.65)	1.71

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