Invesco CurrencyShares Correlations

FXA Etf

USD 64.52 0.13 0.20%

The current 90-days correlation between Invesco CurrencyShares and Invesco CurrencyShares British is 0.73 (i.e., Poor diversification). The correlation of Invesco CurrencyShares 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 CurrencyShares Correlation With Market

Average diversification

The correlation between Invesco CurrencyShares Austral and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco CurrencyShares Austral and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco CurrencyShares Australian. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Invesco Etf

0.85	FXE	Invesco CurrencyShares	Pair Corr
0.83	FXF	Invesco CurrencyShares	Pair Corr
0.75	FXY	Invesco CurrencyShares	Pair Corr
0.93	FXB	Invesco CurrencyShares	Pair Corr
0.89	FXC	Invesco CurrencyShares	Pair Corr
0.66	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.62	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Invesco Etf

0.75	YCS	ProShares UltraShort Yen Potential Growth	Pair Corr
0.72	TBT	ProShares UltraShort	Pair Corr
0.71	STCE	Schwab Strategic Trust	Pair Corr
0.64	SGG	Barclays Capital	Pair Corr
0.63	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.45	SPY	SPDR SP 500	Pair Corr
0.4	PPA	Invesco Aerospace Defense	Pair Corr
0.39	USD	ProShares Ultra Semi Potential Growth	Pair Corr
0.39	AMZA	InfraCap MLP ETF	Pair Corr
0.36	DIG	ProShares Ultra Oil	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.76	BAC	Bank of America Aggressive Push	Pair Corr
0.59	CSCO	Cisco Systems	Pair Corr
0.59	DIS	Walt Disney Aggressive Push	Pair Corr
0.55	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.42	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		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	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

Invesco CurrencyShares Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco CurrencyShares 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 CurrencyShares' 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	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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