Invesco BulletShares Correlations

BSMT Etf

USD 23.13 0.04 0.17%

The current 90-days correlation between Invesco BulletShares 2029 and iShares iBonds Dec is 0.33 (i.e., Weak 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

Very good diversification

The correlation between Invesco BulletShares 2029 and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2029 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 2029. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Invesco Etf

0.82	IBMO	iShares iBonds Dec	Pair Corr
0.86	IBMP	iShares iBonds Dec	Pair Corr
0.88	IBMQ	iShares Trust	Pair Corr
0.63	BSMQ	Invesco BulletShares 2026	Pair Corr
0.7	VZ	Verizon Communications Aggressive Push	Pair Corr
0.61	PG	Procter Gamble	Pair Corr

Moving against Invesco Etf

0.41	RSPY	Tuttle Capital Management	Pair Corr
0.38	IBML	IShares	Pair Corr
0.38	MEME	Roundhill Investments	Pair Corr
0.37	DSJA	DSJA	Pair Corr
0.34	BSMN	Invesco	Pair Corr
0.36	BAC	Bank of America Aggressive Push	Pair Corr
0.35	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	IBMN	IBMO	IBMP	BSMO	IBMQ	BSMP	BSMQ
IBMN		0.31	0.11	0.75	-0.02	0.78	0.59	IBMN
IBMO	0.31		0.81	-0.16	0.8	-0.12	0.67	IBMO
IBMP	0.11	0.81		-0.33	0.92	-0.29	0.6	IBMP
BSMO	0.75	-0.16	-0.33		-0.43	0.8	0.23	BSMO
IBMQ	-0.02	0.8	0.92	-0.43		-0.43	0.53	IBMQ
BSMP	0.78	-0.12	-0.29	0.8	-0.43		0.26	BSMP
BSMQ	0.59	0.67	0.6	0.23	0.53	0.26		BSMQ
	IBMN	IBMO	IBMP	BSMO	IBMQ	BSMP	BSMQ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

IBMQ	+ 0.92	IBMP
IBMP	+ 0.81	IBMO
IBMQ	+ 0.8	IBMO
BSMP	+ 0.8	BSMO
BSMP	+ 0.78	IBMN
BSMO	+ 0.75	IBMN

High negative correlations

BSMP	- 0.43	IBMQ
IBMQ	- 0.43	BSMO
BSMO	- 0.33	IBMP
BSMP	- 0.29	IBMP
BSMO	- 0.16	IBMO
BSMP	- 0.12	IBMO

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
IBMN	0.04	0.00	(2.37)	0.12	0.00	(0.06)	0.08	(0.08)	0.23
IBMO	0.07	0.00	(1.16)	0.18	0.06	(0.08)	0.12	(0.12)	0.63
IBMP	0.10	0.00	(0.85)	0.22	0.12	(0.11)	0.20	(0.16)	0.71
BSMO	0.09	0.00	(0.93)	(0.05)	0.04	(0.11)	0.20	(0.16)	0.57
IBMQ	0.09	0.00	(0.87)	0.30	0.10	(0.10)	0.28	(0.24)	0.59
BSMP	0.11	0.01	(0.78)	(0.32)	0.00	(0.12)	0.25	(0.20)	0.61
BSMQ	0.11	0.00	(0.80)	(0.01)	0.07	(0.13)	0.21	(0.21)	0.68

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC