Invesco National Correlations

PZA Etf

USD 23.61 0.06 0.25%

The current 90-days correlation between Invesco National AMT and SPDR Nuveen Bloomberg is 0.92 (i.e., Almost no diversification). The correlation of Invesco National 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 National Correlation With Market

Modest diversification

The correlation between Invesco National AMT Free and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco National AMT Free 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 National AMT Free. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Invesco Etf

0.97	TFI	SPDR Nuveen Bloomberg	Pair Corr
0.92	BAB	Invesco Taxable Municipal	Pair Corr
0.97	MMIN	IQ MacKay Municipal	Pair Corr
0.97	MLN	VanEck Long Muni	Pair Corr
0.95	RVNU	Xtrackers Municipal	Pair Corr
0.97	FLMB	Franklin Liberty Federal	Pair Corr
0.97	SMI	VanEck Vectors ETF	Pair Corr
0.85	RTAI	Rareview Tax Advantaged	Pair Corr
0.84	PMBS	PIMCO Mortgage Backed	Pair Corr
0.74	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.86	YCL	ProShares Ultra Yen	Pair Corr
0.81	FXY	Invesco CurrencyShares	Pair Corr
0.67	ULE	ProShares Ultra Euro	Pair Corr
0.72	DD	Dupont De Nemours	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.83	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.71	HD	Home Depot	Pair Corr

Moving against Invesco Etf

0.53	PFE	Pfizer Inc	Pair Corr
0.5	BA	Boeing	Pair Corr

Related Correlations Analysis

	TFI	ITM	MLN	SHM	PWZ
TFI		0.92	0.97	0.72	0.93	TFI
ITM	0.92		0.9	0.76	0.81	ITM
MLN	0.97	0.9		0.65	0.94	MLN
SHM	0.72	0.76	0.65		0.49	SHM
PWZ	0.93	0.81	0.94	0.49		PWZ
	TFI	ITM	MLN	SHM	PWZ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Invesco National Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco National 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 National'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
TFI	0.19	(0.01)	(0.03)	(0.14)	0.25	(0.19)	0.35	(0.44)	1.12
ITM	0.19	0.00	0.00	0.02	0.20	(0.22)	0.42	(0.33)	1.02
MLN	0.31	(0.01)	0.00	(0.07)	0.00	0.00	0.57	(0.68)	1.53
SHM	0.08	0.00	(0.02)	(0.15)	0.07	(0.08)	0.17	(0.17)	0.59
PWZ	0.33	(0.01)	(0.03)	(0.09)	0.42	(0.32)	0.66	(0.61)	2.19

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