Invesco Exchange Correlations

BSCW Etf

USD 20.12 0.11 0.55%

The current 90-days correlation between Invesco Exchange Traded and Invesco BulletShares 2031 is 0.97 (i.e., Almost no diversification). The correlation of Invesco Exchange 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 Exchange Correlation With Market

Very good diversification

The correlation between Invesco Exchange Traded Self I and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Exchange Traded Self I and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Exchange Traded Self Indexed. 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

0.72	BSCP	Invesco BulletShares 2025	Pair Corr
0.72	IBDQ	iShares iBonds Dec	Pair Corr
0.81	BSCQ	Invesco BulletShares 2026	Pair Corr
0.8	IBDR	iShares iBonds Dec	Pair Corr
0.86	IBDS	iShares iBonds Dec	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.71	KO	Coca Cola Sell-off Trend	Pair Corr
0.74	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.8	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Invesco Etf

0.7	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.61	WTMF	WisdomTree Managed	Pair Corr
0.59	HUM	Humana Inc Earnings Call This Week	Pair Corr
0.56	HD	Home Depot	Pair Corr
0.5	BST	BlackRock Science Tech	Pair Corr
0.47	ARKW	ARK Next Generation	Pair Corr
0.44	AA	Alcoa Corp	Pair Corr
0.4	JPM	JPMorgan Chase	Pair Corr
0.38	OIH	VanEck Oil Services	Pair Corr
0.31	BA	Boeing Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.63	0.38	-0.31	-0.35	0.77	0.83	0.91	0.25	0.07	META
MSFT	0.63		-0.11	-0.02	-0.78	0.9	0.9	0.76	0.51	-0.04	MSFT
UBER	0.38	-0.11		-0.35	0.51	-0.14	-0.07	0.32	-0.38	0.29	UBER
F	-0.31	-0.02	-0.35		0.1	-0.02	-0.09	-0.24	0.4	0.51	F
T	-0.35	-0.78	0.51	0.1		-0.78	-0.73	-0.42	-0.55	0.28	T
A	0.77	0.9	-0.14	-0.02	-0.78		0.97	0.81	0.63	0.05	A
CRM	0.83	0.9	-0.07	-0.09	-0.73	0.97		0.87	0.51	-0.02	CRM
JPM	0.91	0.76	0.32	-0.24	-0.42	0.81	0.87		0.19	0.08	JPM
MRK	0.25	0.51	-0.38	0.4	-0.55	0.63	0.51	0.19		0.31	MRK
XOM	0.07	-0.04	0.29	0.51	0.28	0.05	-0.02	0.08	0.31		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

CRM	+ 0.97	A
JPM	+ 0.91	META
A	+ 0.9	MSFT
CRM	+ 0.9	MSFT
JPM	+ 0.87	CRM
CRM	+ 0.83	META

High negative correlations

A	- 0.78	T
T	- 0.78	MSFT
CRM	- 0.73	T
MRK	- 0.55	T
JPM	- 0.42	T
MRK	- 0.38	UBER

Invesco Exchange Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Exchange 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 Exchange'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	2.14	(0.10)	0.00	(0.16)	0.00	0.00	2.96	(4.67)	21.50
MSFT	1.37	(0.07)	0.00	(0.16)	0.00	0.00	2.91	(3.34)	12.47
UBER	2.23	0.32	0.09	0.16	2.86	(2.14)	5.40	(4.21)	16.03
F	1.94	0.02	0.05	(0.15)	2.85	(1.83)	3.19	(3.88)	13.11
T	1.12	0.40	0.19	0.98	2.05	(1.21)	1.97	(1.75)	13.13
A	1.61	(0.36)	0.00	(0.41)	0.00	0.00	2.92	(5.45)	14.45
CRM	1.69	(0.24)	0.00	(0.31)	0.00	0.00	2.82	(4.51)	12.32
JPM	1.54	0.05	0.00	(0.06)	0.00	0.00	2.66	(4.15)	11.14
MRK	1.48	(0.35)	0.00	(0.92)	0.00	0.00	2.43	(4.81)	11.58
XOM	1.38	0.03	0.00	(0.06)	0.00	0.00	2.69	(3.21)	10.54

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