Invesco KBW Correlations

KBWD Etf

USD 13.93 0.11 0.80%

The current 90-days correlation between Invesco KBW High and Invesco KBW Property is 0.31 (i.e., Weak diversification). The correlation of Invesco KBW 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 KBW Correlation With Market

Poor diversification

The correlation between Invesco KBW High and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco KBW High and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Invesco KBW High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Invesco Etf

0.66	XLF	Financial Select Sector	Pair Corr
0.79	VFH	Vanguard Financials Index	Pair Corr
0.85	KRE	SPDR SP Regional	Pair Corr
0.78	KBE	SPDR SP Bank	Pair Corr
0.84	IYF	iShares Financials ETF	Pair Corr
0.79	FNCL	Fidelity MSCI Financials	Pair Corr
0.86	IYG	iShares Financial	Pair Corr
0.86	FXO	First Trust Financials	Pair Corr
0.87	IAT	iShares Regional Banks	Pair Corr
0.76	IXG	iShares Global Financials	Pair Corr
0.78	LENS	Sarmaya Thematic ETF	Pair Corr
0.78	ASA	ASA Gold	Pair Corr
0.8	MAPP	Harbor ETF Trust	Pair Corr
0.78	WNTR	YieldMax MSTR Short	Pair Corr
0.67	JUNE	JUNE Symbol Change	Pair Corr
0.8	SNPD	DBX ETF Trust	Pair Corr
0.84	AXP	American Express	Pair Corr
0.72	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr
0.7	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.81	MRK	Merck Company	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.72	MCD	McDonalds	Pair Corr
0.84	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.87	BAC	Bank of America	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr

Moving against Invesco Etf

0.72	SWIN	Alps Symbol Change	Pair Corr
0.43	DRGN	Themes China Generative	Pair Corr
0.66	MSFT	Microsoft Sell-off Trend	Pair Corr
0.55	HD	Home Depot	Pair Corr
0.48	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	KBWP	VFMF	EPOL	EELV	DDLS	VFQY	EMQQ	EWJV	EFAX	VIDI
KBWP		0.67	0.5	0.53	0.65	0.54	-0.56	0.61	0.49	0.55	KBWP
VFMF	0.67		0.83	0.84	0.87	0.88	-0.65	0.95	0.83	0.88	VFMF
EPOL	0.5	0.83		0.83	0.8	0.78	-0.54	0.86	0.87	0.92	EPOL
EELV	0.53	0.84	0.83		0.65	0.63	-0.65	0.9	0.72	0.92	EELV
DDLS	0.65	0.87	0.8	0.65		0.9	-0.38	0.79	0.9	0.79	DDLS
VFQY	0.54	0.88	0.78	0.63	0.9		-0.4	0.8	0.89	0.77	VFQY
EMQQ	-0.56	-0.65	-0.54	-0.65	-0.38	-0.4		-0.65	-0.28	-0.6	EMQQ
EWJV	0.61	0.95	0.86	0.9	0.79	0.8	-0.65		0.81	0.89	EWJV
EFAX	0.49	0.83	0.87	0.72	0.9	0.89	-0.28	0.81		0.84	EFAX
VIDI	0.55	0.88	0.92	0.92	0.79	0.77	-0.6	0.89	0.84		VIDI
	KBWP	VFMF	EPOL	EELV	DDLS	VFQY	EMQQ	EWJV	EFAX	VIDI

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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

EWJV	+ 0.95	VFMF
VIDI	+ 0.92	EPOL
VIDI	+ 0.92	EELV
EWJV	+ 0.9	EELV
VFQY	+ 0.9	DDLS
EFAX	+ 0.9	DDLS

High negative correlations

EWJV	- 0.65	EMQQ
EMQQ	- 0.65	EELV
EMQQ	- 0.65	VFMF
VIDI	- 0.6	EMQQ
EMQQ	- 0.56	KBWP
EMQQ	- 0.54	EPOL

Invesco KBW Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco KBW 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 KBW'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
KBWP	0.70	0.02	(0.02)	0.13	1.04	(0.68)	1.54	(1.69)	4.68
VFMF	0.65	0.06	0.00	0.34	0.83	(0.65)	1.56	(1.50)	3.28
EPOL	0.94	0.15	0.13	0.26	0.81	(1.09)	2.19	(1.54)	4.49
EELV	0.41	0.05	(0.04)	0.60	0.51	(0.42)	0.70	(0.95)	2.25
DDLS	0.47	0.02	(0.02)	0.11	0.58	(0.49)	1.13	(0.89)	3.15
VFQY	0.67	(0.03)	(0.03)	0.04	0.89	(0.64)	1.33	(1.35)	3.48
EMQQ	0.86	(0.18)	0.00	(0.10)	0.00	0.00	1.91	(1.59)	5.05
EWJV	0.75	0.09	0.02	1.44	0.98	(0.79)	1.71	(1.58)	5.74
EFAX	0.57	0.02	0.00	0.09	0.71	(0.56)	1.15	(1.24)	2.51
VIDI	0.60	0.06	0.05	0.14	0.69	(0.66)	1.16	(1.45)	3.18

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