Invesco Total Correlations

GTO Etf

USD 47.83 0.11 0.23%

The current 90-days correlation between Invesco Total Return and First Trust Managed is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Total moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Total Return moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco Total Correlation With Market

Poor diversification

The correlation between Invesco Total Return and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Total Return and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Total Return. 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

0.98	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.96	FIXD	First Trust TCW	Pair Corr
0.96	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.97	TOTL	SPDR DoubleLine Total	Pair Corr
0.88	BNDS	Series Portfolios Trust	Pair Corr
0.97	HTRB	Hartford Total Return	Pair Corr
0.98	EUSB	iShares Trust	Pair Corr
0.99	JCPB	JPMorgan Core Plus Sell-off Trend	Pair Corr
0.61	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.68	JNUG	Direxion Daily Junior	Pair Corr
0.72	NUGT	Direxion Daily Gold	Pair Corr
0.76	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.9	KORU	Direxion Daily South Trending	Pair Corr
0.78	DGP	DB Gold Double	Pair Corr
0.9	VYMI	Vanguard International	Pair Corr
0.97	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.84	UEVM	VictoryShares Emerging	Pair Corr
0.91	IYR	iShares Real Estate	Pair Corr
0.89	EFA	iShares MSCI EAFE	Pair Corr
0.79	IAU	iShares Gold Trust Aggressive Push	Pair Corr
0.72	QTAP	Innovator Growth 100	Pair Corr
0.75	ITA	iShares Aerospace Defense	Pair Corr
0.87	ILOW	AB Active ETFs	Pair Corr
0.89	DFIV	Dimensional International Sell-off Trend	Pair Corr
0.88	STXV	EA Series Trust	Pair Corr
0.73	RSST	Return Stacked Stocks	Pair Corr
0.87	EMIF	iShares Emerging Markets	Pair Corr
0.76	USO	United States Oil	Pair Corr
0.86	VDC	Vanguard Consumer Staples	Pair Corr
0.88	ESGD	iShares ESG Aware	Pair Corr
0.66	JETS	US Global Jets	Pair Corr
0.92	SCDV	ETF Series Solutions	Pair Corr

Moving against Invesco Etf

0.69	DRSK	Aptus Defined Risk	Pair Corr
0.52	BULZ	MicroSectors Solactive	Pair Corr

Related Correlations Analysis

	PFXF	ITM	FDIS	FIW	QQEW	ILF	AVSC	XHB	VCMDX	FMB
PFXF		0.88	0.5	0.82	-0.25	0.86	0.95	0.8	0.89	0.83	PFXF
ITM	0.88		0.18	0.69	-0.57	0.87	0.9	0.85	0.82	0.96	ITM
FDIS	0.5	0.18		0.52	0.61	0.13	0.43	0.17	0.26	0.02	FDIS
FIW	0.82	0.69	0.52		-0.18	0.73	0.84	0.81	0.76	0.67	FIW
QQEW	-0.25	-0.57	0.61	-0.18		-0.56	-0.36	-0.55	-0.39	-0.69	QQEW
ILF	0.86	0.87	0.13	0.73	-0.56		0.89	0.82	0.95	0.91	ILF
AVSC	0.95	0.9	0.43	0.84	-0.36	0.89		0.89	0.85	0.86	AVSC
XHB	0.8	0.85	0.17	0.81	-0.55	0.82	0.89		0.74	0.85	XHB
VCMDX	0.89	0.82	0.26	0.76	-0.39	0.95	0.85	0.74		0.84	VCMDX
FMB	0.83	0.96	0.02	0.67	-0.69	0.91	0.86	0.85	0.84		FMB
	PFXF	ITM	FDIS	FIW	QQEW	ILF	AVSC	XHB	VCMDX	FMB

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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

FMB	+ 0.96	ITM
AVSC	+ 0.95	PFXF
VCMDX	+ 0.95	ILF
FMB	+ 0.91	ILF
AVSC	+ 0.9	ITM
VCMDX	+ 0.89	PFXF

High negative correlations

FMB	- 0.69	QQEW
QQEW	- 0.57	ITM
ILF	- 0.56	QQEW
XHB	- 0.55	QQEW
VCMDX	- 0.39	QQEW
AVSC	- 0.36	QQEW

Invesco Total Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Total 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 Total'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
PFXF	0.42	0.09	0.10	0.27	0.23	(0.52)	1.05	(0.71)	2.79
ITM	0.09	0.03	(0.26)	0.57	0.00	(0.11)	0.23	(0.15)	0.70
FDIS	0.80	(0.05)	(0.05)	0.01	1.02	(0.85)	1.81	(1.68)	4.98
FIW	0.74	(0.02)	(0.02)	0.04	0.81	(0.82)	1.74	(1.24)	4.64
QQEW	0.85	(0.16)	0.00	(0.09)	0.00	0.00	1.58	(2.18)	5.07
ILF	1.06	0.28	0.14	0.46	1.34	(1.10)	2.33	(2.37)	6.53
AVSC	0.81	0.15	0.18	0.19	0.63	(0.98)	2.55	(1.35)	4.97
XHB	1.28	0.15	0.16	0.18	0.90	(1.81)	3.73	(1.82)	7.51
VCMDX	0.88	0.15	0.07	0.77	1.21	(0.91)	1.78	(1.73)	5.86
FMB	0.07	0.03	(0.33)	4.19	0.00	(0.08)	0.16	(0.08)	0.57

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