Invesco KBW Correlations

KBWD Etf

USD 14.37 0.15 1.05%

The current 90-days correlation between Invesco KBW High and Vident International Equity is 0.41 (i.e., Very 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

Very poor diversification

The correlation between Invesco KBW High and DJI is 0.88 (i.e., Very 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 manufacturing.

Moving together with Invesco Etf

0.62	XLF	Financial Select Sector	Pair Corr
0.69	VFH	Vanguard Financials Index	Pair Corr
0.91	KRE	SPDR SP Regional	Pair Corr
0.88	KBE	SPDR SP Bank	Pair Corr
0.75	IYF	iShares Financials ETF	Pair Corr
0.69	FNCL	Fidelity MSCI Financials	Pair Corr
0.68	IYG	iShares Financial	Pair Corr
0.82	FXO	First Trust Financials	Pair Corr
0.89	IAT	iShares Regional Banks	Pair Corr
0.79	IXG	iShares Global Financials	Pair Corr
0.91	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.91	GDXU	MicroSectors Gold Miners	Pair Corr
0.92	JNUG	Direxion Daily Junior	Pair Corr
0.92	NUGT	Direxion Daily Gold	Pair Corr
0.89	LITL	Simplify Exchange Traded	Pair Corr
0.96	IWD	iShares Russell 1000	Pair Corr
0.77	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.85	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.87	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.82	MRK	Merck Company Earnings Call This Week	Pair Corr
0.81	BA	Boeing Earnings Call Today	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr

Moving against Invesco Etf

0.72	FNGO	MicroSectors FANG Index	Pair Corr
0.46	NVDL	GraniteShares 15x Long Aggressive Push	Pair Corr
0.45	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	KBWP	VFMF	EPOL	EELV	DDLS	VFQY	EMQQ	EWJV	EFAX	VIDI
KBWP		0.57	0.46	0.37	0.4	0.43	-0.75	0.45	0.38	0.37	KBWP
VFMF	0.57		0.9	0.85	0.94	0.92	-0.63	0.95	0.92	0.91	VFMF
EPOL	0.46	0.9		0.88	0.93	0.87	-0.44	0.92	0.96	0.93	EPOL
EELV	0.37	0.85	0.88		0.9	0.8	-0.48	0.91	0.9	0.97	EELV
DDLS	0.4	0.94	0.93	0.9		0.9	-0.49	0.97	0.96	0.95	DDLS
VFQY	0.43	0.92	0.87	0.8	0.9		-0.43	0.9	0.91	0.83	VFQY
EMQQ	-0.75	-0.63	-0.44	-0.48	-0.49	-0.43		-0.54	-0.37	-0.49	EMQQ
EWJV	0.45	0.95	0.92	0.91	0.97	0.9	-0.54		0.95	0.95	EWJV
EFAX	0.38	0.92	0.96	0.9	0.96	0.91	-0.37	0.95		0.95	EFAX
VIDI	0.37	0.91	0.93	0.97	0.95	0.83	-0.49	0.95	0.95		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

VIDI	+ 0.97	EELV
EWJV	+ 0.97	DDLS
EFAX	+ 0.96	EPOL
EFAX	+ 0.96	DDLS
EWJV	+ 0.95	VFMF
VIDI	+ 0.95	DDLS

High negative correlations

EMQQ	- 0.75	KBWP
EMQQ	- 0.63	VFMF
EWJV	- 0.54	EMQQ
VIDI	- 0.49	EMQQ
EMQQ	- 0.49	DDLS
EMQQ	- 0.48	EELV

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	0.65	0.03	(0.02)	0.22	0.78	(0.73)	1.54	(1.21)	4.95
VFMF	0.63	0.06	0.07	0.14	0.64	(0.67)	1.75	(1.17)	3.51
EPOL	0.96	0.20	0.17	0.36	0.75	(1.14)	2.30	(1.55)	5.14
EELV	0.38	0.10	0.06	1.27	0.26	(0.44)	0.79	(0.70)	1.92
DDLS	0.47	0.09	0.08	0.23	0.43	(0.50)	1.17	(0.86)	3.16
VFQY	0.64	0.05	(0.01)	0.35	0.75	(0.63)	1.53	(1.30)	3.88
EMQQ	0.86	(0.15)	0.00	(0.36)	0.00	0.00	1.79	(1.61)	5.05
EWJV	0.66	0.10	0.08	0.21	0.72	(0.74)	1.71	(1.58)	4.62
EFAX	0.54	0.04	0.04	0.13	0.61	(0.56)	1.15	(1.24)	2.94
VIDI	0.54	0.18	0.22	0.32	0.34	(0.64)	1.25	(0.83)	3.01

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