Invesco WilderHill Correlations

PBW Etf

USD 20.16 0.55 2.80%

The current 90-days correlation between Invesco WilderHill Clean and First Trust NASDAQ is 0.91 (i.e., Almost no diversification). The correlation of Invesco WilderHill 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 WilderHill Correlation With Market

Weak diversification

The correlation between Invesco WilderHill Clean and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco WilderHill Clean and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco WilderHill Clean. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Invesco Etf

0.62	WINN	Harbor Long Term	Pair Corr
0.66	PPA	Invesco Aerospace Defense	Pair Corr
0.68	SPY	SPDR SP 500	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.63	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against Invesco Etf

0.73	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.68	FNGD	MicroSectors FANG Index	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.34	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.31	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	QCLN	TAN	ICLN	PBD	FAN
QCLN		0.74	0.65	0.76	0.67	QCLN
TAN	0.74		0.9	0.89	0.79	TAN
ICLN	0.65	0.9		0.87	0.86	ICLN
PBD	0.76	0.89	0.87		0.92	PBD
FAN	0.67	0.79	0.86	0.92		FAN
	QCLN	TAN	ICLN	PBD	FAN

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Invesco WilderHill Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco WilderHill 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 WilderHill'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
QCLN	1.52	(0.11)	(0.02)	2.41	(2.84)	10.34
TAN	1.92	(0.19)	0.61	3.35	(3.93)	17.14
ICLN	1.05	(0.23)	1.70	2.01	(2.44)	10.86
PBD	1.32	(0.21)	(0.51)	2.62	(2.91)	10.15
FAN	0.88	(0.11)	1.59	1.39	(2.05)	8.69

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