Invesco Taxable Correlations

BAB Etf

USD 26.90 0.33 1.24%

The current 90-days correlation between Invesco Taxable Municipal and Caleres is 0.05 (i.e., Significant diversification). The correlation of Invesco Taxable 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 Taxable Correlation With Market

Good diversification

The correlation between Invesco Taxable Municipal and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Taxable Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Taxable Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Invesco Etf

0.99	BLV	Vanguard Long Term	Pair Corr
0.96	IGLB	iShares 10 Year	Pair Corr
0.96	SPLB	SPDR Barclays Long	Pair Corr
0.97	FFIU	Fieldstone UVA Uncon	Pair Corr
0.95	LKOR	FlexShares Credit	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Invesco Etf

0.91	NVDL	GraniteShares 15x Long	Pair Corr
0.91	NVDX	T Rex 2X	Pair Corr
0.91	NVDU	Direxion Daily NVDA	Pair Corr
0.88	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.81	CRPT	First Trust SkyBridge	Pair Corr
0.81	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.8	BITQ	Bitwise Crypto Industry	Pair Corr
0.79	DAPP	VanEck Digital Trans	Pair Corr
0.69	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.68	CONL	GraniteShares ETF Trust	Pair Corr
0.83	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.83	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.82	HPQ	HP Inc	Pair Corr
0.82	BAC	Bank of America Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.66	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.65	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.52	T	ATT Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		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

JPM	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

Invesco Taxable Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Taxable 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 Taxable'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	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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