Invesco ESG Correlations

QQMG Etf

USD 35.19 0.01 0.03%

The current 90-days correlation between Invesco ESG NASDAQ and Invesco ESG NASDAQ is 0.72 (i.e., Poor diversification). The correlation of Invesco ESG 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 ESG Correlation With Market

Very weak diversification

The correlation between Invesco ESG NASDAQ and DJI is 0.48 (i.e., Very weak 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.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco ESG NASDAQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Invesco Etf

0.95	VUG	Vanguard Growth Index	Pair Corr
0.94	IWF	iShares Russell 1000	Pair Corr
0.92	IVW	iShares SP 500	Pair Corr
0.92	SPYG	SPDR Portfolio SP	Pair Corr
0.92	IUSG	iShares Core SP	Pair Corr
0.65	VONG	Vanguard Russell 1000	Pair Corr
0.95	MGK	Vanguard Mega Cap	Pair Corr
0.94	VRGWX	Vanguard Russell 1000	Pair Corr
0.97	QQQM	Invesco NASDAQ 100	Pair Corr
0.65	IWY	iShares Russell Top	Pair Corr

Moving against Invesco Etf

0.35	INTC	Intel	Pair Corr
0.33	JNJ	Johnson Johnson	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.33	-0.34	-0.29	0.31	0.79	0.45	0.22	0.22	-0.35	META
MSFT	0.33		-0.58	-0.22	0.43	0.18	0.63	0.25	0.01	-0.43	MSFT
UBER	-0.34	-0.58		0.63	-0.19	-0.01	-0.44	0.05	-0.05	0.77	UBER
F	-0.29	-0.22	0.63		0.05	-0.25	0.08	-0.05	0.05	0.9	F
T	0.31	0.43	-0.19	0.05		0.17	0.66	0.6	-0.15	-0.19	T
A	0.79	0.18	-0.01	-0.25	0.17		0.14	0.34	0.19	-0.22	A
CRM	0.45	0.63	-0.44	0.08	0.66	0.14		0.22	0.11	-0.14	CRM
JPM	0.22	0.25	0.05	-0.05	0.6	0.34	0.22		-0.52	-0.25	JPM
MRK	0.22	0.01	-0.05	0.05	-0.15	0.19	0.11	-0.52		0.13	MRK
XOM	-0.35	-0.43	0.77	0.9	-0.19	-0.22	-0.14	-0.25	0.13		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.9	F
A	+ 0.79	META
XOM	+ 0.77	UBER
CRM	+ 0.66	T
CRM	+ 0.63	MSFT
F	+ 0.63	UBER

High negative correlations

UBER	- 0.58	MSFT
MRK	- 0.52	JPM
CRM	- 0.44	UBER
XOM	- 0.43	MSFT
XOM	- 0.35	META
UBER	- 0.34	META

Invesco ESG Competition 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
META	1.36	0.31	0.18	0.75	1.19	(1.54)	3.43	(1.95)	7.43
MSFT	1.11	(0.04)	0.00	(0.73)	0.00	0.00	2.20	(2.79)	10.31
UBER	1.45	(0.17)	0.00	(0.28)	0.00	0.00	2.67	(2.53)	12.29
F	1.46	(0.15)	0.00	(0.17)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.11	0.07	0.29	1.06	(1.12)	1.91	(1.84)	7.94
A	1.13	0.13	0.05	0.91	1.12	(1.32)	2.81	(2.16)	5.70
CRM	1.56	0.16	0.10	0.21	1.51	(1.88)	3.70	(2.95)	14.80
JPM	1.03	0.27	0.18	0.92	1.00	(1.23)	1.92	(1.42)	15.87
MRK	1.00	(0.08)	0.00	(0.29)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.86	(0.19)	0.00	(0.33)	0.00	0.00	1.71	(1.93)	6.06

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