Invesco BulletShares Correlations

BSCQ Etf

USD 19.47 0.01 0.05%

The current 90-days correlation between Invesco BulletShares 2026 and VanEck Vectors Moodys is -0.22 (i.e., Very good diversification). The correlation of Invesco BulletShares 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 BulletShares Correlation With Market

Significant diversification

The correlation between Invesco BulletShares 2026 and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2026 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 BulletShares 2026. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Invesco Etf

0.92	BSCO	Invesco BulletShares 2024	Pair Corr
0.9	BSCN	Invesco	Pair Corr
0.89	IBDO	IShares	Pair Corr
0.92	IBDP	iShares iBonds Dec	Pair Corr
0.91	BSCP	Invesco BulletShares 2025	Pair Corr
0.94	IBDQ	iShares iBonds Dec	Pair Corr
0.97	IBDR	iShares iBonds Dec	Pair Corr
0.83	IBDS	iShares iBonds Dec	Pair Corr
0.93	IBTD	IShares	Pair Corr
0.76	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.82	FNGU	MicroSectors FANG Index	Pair Corr
0.83	FNGO	MicroSectors FANG Index	Pair Corr
0.86	FNGS	MicroSectors FANG ETN	Pair Corr
0.76	FBGX	UBS	Pair Corr
0.89	GMM	Global Mofy Metaverse	Pair Corr
0.72	ETH	Grayscale Ethereum Mini Buyout Trend	Pair Corr
0.84	QYLD	Global X NASDAQ	Pair Corr
0.91	BRLN	Blackrock ETF Trust	Pair Corr
0.91	HAPR	Innovator Premium Income	Pair Corr
0.88	FTLS	First Trust LongShort	Pair Corr
0.82	TSL	GraniteShares 125x Long	Pair Corr
0.75	PTNQ	Pacer Trendpilot 100	Pair Corr
0.91	GJAN	First Trust Exchange	Pair Corr
0.97	YEAR	AB Ultra Short	Pair Corr
0.84	OLO	Olo Inc	Pair Corr
0.84	XDEC	First Trust Exchange	Pair Corr
0.65	GSG	iShares SP GSCI	Pair Corr
0.69	XOUT	GraniteShares XOUT Large	Pair Corr
0.92	JAAA	Janus Detroit Street	Pair Corr
0.94	ICSH	iShares Ultra Short	Pair Corr
0.7	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.9	PBDC	Putnam ETF Trust	Pair Corr

Moving against Invesco Etf

0.68

URNM

Sprott Uranium Miners

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

Invesco BulletShares Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco BulletShares 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 BulletShares' 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	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

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