Which stocks are most correlated with QQEW?

Based on one year of daily returns, the stocks most correlated with First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) are QQQE (0.94), QNXT (0.93) and TECB (0.91). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with QQEW?

Over the past year, the stocks most inversely correlated with First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) are SQQQ (-0.84), QID (-0.84) and PSQ (-0.84). A negative correlation means the two stocks have tended to move in opposite directions.

First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) — Stock Correlations & Overview

Over the past year, QQEW has moved most closely with QQQE, QNXT, TECB. Explore the stocks most correlated and inversely correlated with QQEW below, along with its price, financials, and company profile.

Stocks correlated with QQEW

Correlation of daily returns. Higher positive values move with QQEW; negative values move opposite it. Informational only, not investment advice.

Most correlated with QQEW

Symbol	Company	Correlation
QQQE	Direxion Shares ETF Trust Direxion NASDAQ-100 Equal Weighted Index ETF	0.94
QNXT	iShares Nasdaq-100 ex Top 30 ETF	0.93
TECB	iShares U.S. Tech Breakthrough Multisector ETF	0.91
JQUA	JPMorgan U.S. Quality Factor ETF	0.90
ROBT	First Trust Nasdaq Artificial Intelligence and Robotics ETF	0.89

Most inversely correlated with QQEW

Symbol	Company	Correlation
SQQQ	ProShares UltraPro Short QQQ	-0.84
QID	ProShares UltraShort QQQ	-0.84
PSQ	ProShares Short QQQ	-0.84
SPXU	ProShares UltraPro Short S&P 500	-0.83
SDS	ProShares UltraShort S&P500	-0.83

Frequently asked questions about QQEW correlations

Which stocks are most correlated with QQEW?: Based on one year of daily returns, the stocks most correlated with First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) are QQQE (0.94), QNXT (0.93) and TECB (0.91). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with QQEW?: Over the past year, the stocks most inversely correlated with First Trust Nasdaq-100 Select Equal Weight ETF (QQEW) are SQQQ (-0.84), QID (-0.84) and PSQ (-0.84). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these QQEW correlations calculated?: We compute the correlation of daily returns between QQEW and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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