Invesco BulletShares Correlations

BSCY Etf

20.53 0.05 0.24%

The current 90-days correlation between Invesco BulletShares 2034 and VanEck Vectors Moodys is 0.96 (i.e., Almost no 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

Good diversification

The correlation between Invesco BulletShares 2034 and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2034 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 2034. 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

0.83	IBDS	iShares iBonds Dec	Pair Corr
0.99	BND	Vanguard Total Bond	Pair Corr
0.77	VEA	Vanguard FTSE Developed	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.87	KO	Coca Cola Sell-off Trend	Pair Corr

Moving against Invesco Etf

0.81	IBTD	IShares	Pair Corr
0.77	BSCN	Invesco	Pair Corr
0.77	IBDO	IShares	Pair Corr
0.76	BSCO	Invesco BulletShares 2024	Pair Corr
0.76	IBDP	iShares iBonds Dec	Pair Corr
0.71	VUG	Vanguard Growth Index	Pair Corr
0.66	IBDQ	iShares iBonds Dec	Pair Corr
0.66	VTI	Vanguard Total Stock	Pair Corr
0.65	BSCP	Invesco BulletShares 2025	Pair Corr
0.65	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.65	IVV	iShares Core SP	Pair Corr
0.65	VO	Vanguard Mid Cap	Pair Corr
0.63	VB	Vanguard Small Cap	Pair Corr
0.52	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.83	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.76	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.63	DIS	Walt Disney Aggressive Push	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.55	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.5	T	ATT Inc Aggressive Push	Pair Corr
0.49	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.45	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.33	HD	Home Depot Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		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	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

Invesco BulletShares Competition 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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	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	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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