Invesco CurrencyShares Correlations

FXY Etf

USD 59.62 0.11 0.18%

The current 90-days correlation between Invesco CurrencyShares and Invesco CurrencyShares Euro is 0.55 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco CurrencyShares Correlation With Market

Very good diversification

The correlation between Invesco CurrencyShares Japanes and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco CurrencyShares Japanes 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 Japanese. 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

0.9	FXE	Invesco CurrencyShares	Pair Corr
0.93	FXF	Invesco CurrencyShares	Pair Corr
0.79	FXB	Invesco CurrencyShares	Pair Corr
0.91	FXC	Invesco CurrencyShares	Pair Corr
0.76	FXA	Invesco CurrencyShares	Pair Corr
0.84	CYB	CYB	Pair Corr
0.98	TLT	iShares 20 Year	Pair Corr
0.71	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.77	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.94	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Invesco Etf

0.85	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.84	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.84	IVV	iShares Core SP	Pair Corr
0.8	BTC	Grayscale Bitcoin Mini	Pair Corr
0.79	MDY	SPDR SP MIDCAP	Pair Corr
0.78	KRMA	Global X Conscious	Pair Corr
0.7	SLYV	SPDR SP 600	Pair Corr
0.65	GRI	GRI Bio	Pair Corr
0.64	SLYG	SPDR SP 600	Pair Corr
0.63	IXN	iShares Global Tech	Pair Corr
0.92	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.87	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.85	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.83	HPQ	HP Inc	Pair Corr
0.81	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.74	DIS	Walt Disney	Pair Corr
0.69	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.68	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.65	T	ATT Inc Aggressive Push	Pair Corr
0.61	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.29	0.57	-0.02	0.6	0.02	0.68	0.28	-0.56	0.72	META
MSFT	0.29		0.24	0.12	0.2	-0.02	0.02	-0.17	0.11	-0.18	MSFT
UBER	0.57	0.24		-0.02	0.02	0.26	0.05	-0.1	0.04	0.36	UBER
F	-0.02	0.12	-0.02		0.0	-0.37	0.36	0.62	-0.24	0.29	F
T	0.6	0.2	0.02	0.0		-0.48	0.73	0.49	-0.76	0.39	T
A	0.02	-0.02	0.26	-0.37	-0.48		-0.48	-0.65	0.64	-0.01	A
CRM	0.68	0.02	0.05	0.36	0.73	-0.48		0.83	-0.92	0.68	CRM
JPM	0.28	-0.17	-0.1	0.62	0.49	-0.65	0.83		-0.83	0.51	JPM
MRK	-0.56	0.11	0.04	-0.24	-0.76	0.64	-0.92	-0.83		-0.57	MRK
XOM	0.72	-0.18	0.36	0.29	0.39	-0.01	0.68	0.51	-0.57		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	+ 0.83	CRM
CRM	+ 0.73	T
XOM	+ 0.72	META
CRM	+ 0.68	META
XOM	+ 0.68	CRM
MRK	+ 0.64	A

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.76	T
JPM	- 0.65	A
XOM	- 0.57	MRK
MRK	- 0.56	META

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	1.05	0.00	(0.03)	0.12	1.40	(1.14)	2.62	(3.15)	8.02
MSFT	0.88	(0.08)	(0.07)	0.01	1.51	(0.82)	2.09	(1.85)	8.19
UBER	1.60	(0.14)	0.00	(0.02)	0.00	0.00	2.69	(2.44)	20.10
F	1.43	(0.12)	(0.02)	0.04	2.19	(1.43)	2.75	(2.90)	11.72
T	0.92	0.28	0.14	24.43	0.85	(1.04)	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	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
JPM	1.12	0.00	0.06	0.12	1.44	(1.17)	2.05	(2.00)	15.87
MRK	0.85	(0.26)	0.00	(1.12)	0.00	0.00	1.73	(2.13)	4.89
XOM	1.03	0.03	(0.01)	0.18	1.21	(1.11)	2.14	(2.09)	5.78

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