Invesco Golden Correlations

PGJ Etf

USD 25.82 0.76 3.03%

The current 90-days correlation between Invesco Golden Dragon and SPDR SP China is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Golden moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Golden Dragon moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco Golden Correlation With Market

Average diversification

The correlation between Invesco Golden Dragon and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Golden Dragon 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 Golden Dragon. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Invesco Etf

1.0	KWEB	KraneShares CSI China	Pair Corr
0.99	FXI	iShares China Large	Pair Corr
0.95	ASHR	Xtrackers Harvest CSI	Pair Corr
0.99	GXC	SPDR SP China	Pair Corr
0.95	CQQQ	Invesco China Technology	Pair Corr
0.99	CXSE	WisdomTree China	Pair Corr
0.98	EWH	iShares MSCI Hong	Pair Corr
0.97	KBA	KraneShares Bosera MSCI	Pair Corr
0.94	CNYA	iShares MSCI China	Pair Corr
0.71	CEFD	ETRACS Monthly Pay	Pair Corr
0.73	HD	Home Depot Sell-off Trend	Pair Corr
0.61	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.72	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.64	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Moving against Invesco Etf

0.51	YCL	ProShares Ultra Yen	Pair Corr
0.48	FXY	Invesco CurrencyShares	Pair Corr
0.45	VIIX	VIIX	Pair Corr
0.45	PG	Procter Gamble	Pair Corr
0.44	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.41	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	GXC	EWH	FXI	EWS	EWT
GXC		0.97	0.99	0.46	0.6	GXC
EWH	0.97		0.98	0.42	0.6	EWH
FXI	0.99	0.98		0.47	0.66	FXI
EWS	0.46	0.42	0.47		0.35	EWS
EWT	0.6	0.6	0.66	0.35		EWT
	GXC	EWH	FXI	EWS	EWT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Invesco Golden Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Golden 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 Golden'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
GXC	1.97	0.23	0.04	1.67	2.59	(2.27)	5.63	(3.38)	20.25
EWH	1.38	0.07	0.00	0.29	2.02	(1.42)	3.15	(2.67)	12.79
FXI	1.95	0.20	0.04	0.88	2.39	(2.23)	5.49	(3.69)	18.98
EWS	0.60	0.11	0.04	0.56	0.48	(0.67)	1.71	(1.01)	4.43
EWT	1.06	(0.11)	0.00	(0.07)	0.00	0.00	2.55	(2.20)	6.19

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC