Invesco QQQ Correlations

QQQ Etf

USD 599.87 3.56 0.60%

The current 90-days correlation between Invesco QQQ Trust and Vanguard Growth Index is -0.11 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco QQQ Correlation With Market

Poor diversification

The correlation between Invesco QQQ Trust and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco QQQ Trust 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 Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Invesco Etf

0.94	VUG	Vanguard Growth Index	Pair Corr
0.99	IWF	iShares Russell 1000	Pair Corr
0.94	IVW	iShares SP 500	Pair Corr
0.99	SPYG	SPDR Portfolio SP	Pair Corr
0.94	IUSG	iShares Core SP	Pair Corr
0.99	VONG	Vanguard Russell 1000	Pair Corr
1.0	MGK	Vanguard Mega Cap	Pair Corr
0.99	VRGWX	Vanguard Russell 1000	Pair Corr
1.0	QQQM	Invesco NASDAQ 100	Pair Corr
0.95	IWY	iShares Russell Top	Pair Corr
0.89	INTL	Main International ETF	Pair Corr
0.78	EMC	Global X Funds	Pair Corr
0.73	DUKH	Ocean Park High	Pair Corr
0.94	VTI	Vanguard Total Stock	Pair Corr
0.9	EQTYX	WisdomTree Siegel Global	Pair Corr
0.93	GOP	Unusual Whales Subversive Symbol Change	Pair Corr
0.97	BJUN	Innovator SP 500	Pair Corr
1.0	IYW	iShares Technology ETF	Pair Corr
0.89	OCTD	Innovator Capital	Pair Corr
0.72	XHYT	BondBloxx ETF Trust	Pair Corr
0.89	MUNC	Northern Funds	Pair Corr
0.99	IGM	iShares Expanded Tech	Pair Corr
0.96	EMOP	AB Active ETFs,	Pair Corr
0.87	EEMV	iShares MSCI Emerging	Pair Corr
0.72	WIA	Western AssetClaymore	Pair Corr
0.9	ICLN	iShares Global Clean	Pair Corr
0.96	FEMR	Fidelity Covington Trust	Pair Corr
0.95	TSLP	Kurv Yield Premium	Pair Corr
0.99	IXN	iShares Global Tech	Pair Corr
0.69	VYMI	Vanguard International	Pair Corr
0.98	HLAL	Wahed FTSE USA	Pair Corr
0.85	TAXI	Northern Trust Inter	Pair Corr
0.87	TAXT	Northern Trust Tax	Pair Corr
0.92	IXSRF	IXSRF	Pair Corr
0.78	CNXT	VanEck ChiNext ETF	Pair Corr

Moving against Invesco Etf

0.91	FNGD	MicroSectors FANG Index	Pair Corr
0.75	NFLX	Netflix	Pair Corr
0.61	VXX	iPath Series B Low Volatility	Pair Corr
0.35	HUM	Humana Inc	Pair Corr

Related Correlations Analysis

	VUG	VIGAX	VINIX	VBTLX	VBMFX	VTI	VBMPX	BND	VEA	VTMGX
VUG		0.94	0.93	0.79	0.76	0.99	0.8	0.8	0.91	0.85	VUG
VIGAX	0.94		0.99	0.82	0.79	0.94	0.83	0.83	0.86	0.91	VIGAX
VINIX	0.93	0.99		0.84	0.81	0.94	0.85	0.85	0.89	0.94	VINIX
VBTLX	0.79	0.82	0.84		0.96	0.83	1.0	0.99	0.82	0.84	VBTLX
VBMFX	0.76	0.79	0.81	0.96		0.8	0.96	0.96	0.78	0.82	VBMFX
VTI	0.99	0.94	0.94	0.83	0.8		0.84	0.84	0.94	0.88	VTI
VBMPX	0.8	0.83	0.85	1.0	0.96	0.84		0.99	0.83	0.84	VBMPX
BND	0.8	0.83	0.85	0.99	0.96	0.84	0.99		0.83	0.85	BND
VEA	0.91	0.86	0.89	0.82	0.78	0.94	0.83	0.83		0.92	VEA
VTMGX	0.85	0.91	0.94	0.84	0.82	0.88	0.84	0.85	0.92		VTMGX
	VUG	VIGAX	VINIX	VBTLX	VBMFX	VTI	VBMPX	BND	VEA	VTMGX

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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
VUG	0.74	0.05	0.02	2.08	1.01	(0.74)	1.60	(1.66)	4.91
VIGAX	0.76	0.00	0.00	0.03	1.05	(0.74)	1.61	(1.73)	4.89
VINIX	0.53	0.01	0.01	0.04	0.77	(0.51)	1.23	(1.12)	4.22
VBTLX	0.18	0.02	(0.04)	0.94	0.08	(0.22)	0.41	(0.31)	1.03
VBMFX	0.18	0.02	(0.04)	0.60	0.08	(0.22)	0.41	(0.31)	1.03
VTI	0.54	0.04	0.01	4.30	0.78	(0.52)	1.12	(1.14)	4.41
VBMPX	0.18	0.02	(0.04)	1.62	0.04	(0.22)	0.41	(0.31)	1.03
BND	0.17	0.02	(0.06)	0.46	0.00	(0.20)	0.39	(0.26)	0.98
VEA	0.55	0.04	0.01	1.93	0.69	(0.54)	1.05	(1.25)	3.52
VTMGX	0.58	0.00	(0.01)	0.03	0.81	(0.54)	1.05	(1.27)	3.77

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