Invesco Intermediate Correlations

INTM Etf

52.04 0.17 0.33%

The current 90-days correlation between Invesco Intermediate and IQ MacKay Municipal is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Intermediate moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Intermediate Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco Intermediate Correlation With Market

Poor diversification

The correlation between Invesco Intermediate Municipal and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Intermediate Municipal 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 Intermediate Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Invesco Etf

0.64	VTI	Vanguard Total Stock	Pair Corr
0.62	SPY	SPDR SP 500	Pair Corr
0.62	IVV	iShares Core SP	Pair Corr
0.64	BND	Vanguard Total Bond	Pair Corr
0.69	VTV	Vanguard Value Index	Pair Corr
0.68	VO	Vanguard Mid Cap	Pair Corr
0.74	VEA	Vanguard FTSE Developed	Pair Corr
0.7	VB	Vanguard Small Cap	Pair Corr
0.76	VWO	Vanguard FTSE Emerging	Pair Corr
0.62	SIXD	AIM ETF Products	Pair Corr
0.8	BA	Boeing	Pair Corr
0.69	CVX	Chevron Corp	Pair Corr
0.65	INTC	Intel	Pair Corr

Moving against Invesco Etf

0.63	VIXM	ProShares VIX Mid	Pair Corr
0.63	VXZ	iPath Series B	Pair Corr
0.59	VXX	iPath Series B	Pair Corr
0.59	VIXY	ProShares VIX Short	Pair Corr
0.54	HPQ	HP Inc	Pair Corr
0.35	T	ATT Inc Earnings Call This Week	Pair Corr
0.34	TRV	The Travelers Companies	Pair Corr
0.33	MMM	3M Company	Pair Corr
0.32	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	-0.03	0.2	0.05	-0.35	0.25	0.14	0.04	0.16	META
MSFT	0.16		0.74	-0.55	0.28	0.35	0.44	-0.02	-0.8	-0.72	MSFT
UBER	-0.03	0.74		-0.48	0.33	0.52	0.1	-0.2	-0.8	-0.53	UBER
F	0.2	-0.55	-0.48		-0.52	-0.28	0.0	0.4	0.7	0.66	F
T	0.05	0.28	0.33	-0.52		0.46	-0.25	-0.27	-0.37	-0.38	T
A	-0.35	0.35	0.52	-0.28	0.46		-0.07	-0.06	-0.33	-0.56	A
CRM	0.25	0.44	0.1	0.0	-0.25	-0.07		0.69	-0.15	-0.5	CRM
JPM	0.14	-0.02	-0.2	0.4	-0.27	-0.06	0.69		0.29	-0.13	JPM
MRK	0.04	-0.8	-0.8	0.7	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.16	-0.72	-0.53	0.66	-0.38	-0.56	-0.5	-0.13	0.68		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

UBER	+ 0.74	MSFT
MRK	+ 0.7	F
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
XOM	+ 0.66	F
A	+ 0.52	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.56	A
F	- 0.55	MSFT
XOM	- 0.53	UBER

Invesco Intermediate Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Intermediate 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 Intermediate'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
META	1.61	(0.08)	0.00	(0.04)	0.00	0.00	3.43	(2.72)	11.42
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.24	0.05	0.04	0.08	1.23	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.18)	0.00	(0.10)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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