Invesco ESG Correlations

QQJE Etf

20.30 0.10 0.49%

The current 90-days correlation between Invesco ESG NASDAQ and Invesco SP International is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco ESG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco ESG NASDAQ moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco ESG Correlation With Market

Significant diversification

The correlation between Invesco ESG NASDAQ and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco ESG NASDAQ and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Invesco ESG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco ESG when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco ESG - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco ESG NASDAQ to buy it.

Moving together with Invesco Etf

0.89	XSP	iShares Core SP	Pair Corr
0.92	ZSP	BMO SP 500	Pair Corr
0.91	VFV	Vanguard SP 500	Pair Corr
0.91	HXS	Global X SP	Pair Corr
0.91	XUS	iShares Core SP	Pair Corr
0.89	ZUE	BMO SP 500	Pair Corr
0.89	VSP	Vanguard SP 500	Pair Corr
0.85	ZQQ	BMO NASDAQ 100	Pair Corr
0.86	XQQ	iShares NASDAQ 100	Pair Corr
0.91	XUU	iShares Core SP	Pair Corr
0.84	CYBR-B	Evolve Cyber Security	Pair Corr
0.69	ENCC	Global X Canadian	Pair Corr
0.72	ZEO	BMO Equal Weight	Pair Corr
0.74	JAPN	CI WisdomTree Japan	Pair Corr
0.81	HBGD	Global X Big	Pair Corr

Related Correlations Analysis

	IIAE	PXU-F	QQJE	IITE	EQL-U	QQEQ	ISTE	PSB	PZW-F
IIAE		0.06	0.11	0.55	0.14	-0.08	-0.54	0.53	0.12	IIAE
PXU-F	0.06		0.9	0.6	0.96	0.92	0.49	0.53	0.7	PXU-F
QQJE	0.11	0.9		0.66	0.87	0.89	0.42	0.6	0.79	QQJE
IITE	0.55	0.6	0.66		0.63	0.48	0.0	0.61	0.71	IITE
EQL-U	0.14	0.96	0.87	0.63		0.91	0.43	0.6	0.69	EQL-U
QQEQ	-0.08	0.92	0.89	0.48	0.91		0.51	0.42	0.72	QQEQ
ISTE	-0.54	0.49	0.42	0.0	0.43	0.51		0.14	0.27	ISTE
PSB	0.53	0.53	0.6	0.61	0.6	0.42	0.14		0.38	PSB
PZW-F	0.12	0.7	0.79	0.71	0.69	0.72	0.27	0.38		PZW-F
	IIAE	PXU-F	QQJE	IITE	EQL-U	QQEQ	ISTE	PSB	PZW-F

Click cells to compare fundamentals

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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

EQL-U	+ 0.96	PXU-F
QQEQ	+ 0.92	PXU-F
QQEQ	+ 0.91	EQL-U
QQJE	+ 0.9	PXU-F
QQEQ	+ 0.89	QQJE
EQL-U	+ 0.87	QQJE

High negative correlations

ISTE	- 0.54	IIAE
QQEQ	- 0.08	IIAE
ISTE	- 0.0	IITE

Invesco ESG Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco ESG 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 ESG'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
IIAE	0.20	0.00	0.00	0.13	0.00	0.00	0.69	(0.57)	5.05
PXU-F	0.53	0.08	(0.05)	1.10	0.42	(0.69)	1.04	(0.97)	4.43
QQJE	0.46	0.10	(0.01)	1.80	0.35	(1.64)	1.95	(1.05)	5.22
IITE	0.25	0.02	0.00	0.26	0.00	0.00	0.33	(0.87)	7.59
EQL-U	0.51	0.09	(0.03)	0.76	0.37	(0.63)	1.20	(0.83)	4.24
QQEQ	0.66	0.10	(0.01)	0.82	0.60	(0.90)	1.80	(1.30)	6.18
ISTE	0.34	0.16	0.00	(0.92)	0.00	0.00	0.00	0.00	12.55
PSB	0.15	0.00	(0.62)	0.93	0.12	(0.18)	0.28	(0.28)	0.85
PZW-F	0.25	0.10	0.00	(2.53)	0.00	0.00	0.00	0.00	6.31

Be your own money manager

Our tools can tell you how much better you can do entering a position in Invesco ESG without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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