Invesco DB Correlations

UUP Etf

USD 29.72 0.11 0.37%

The current 90-days correlation between Invesco DB Dollar and Invesco DB Dollar is -0.97 (i.e., Pay attention - limited upside). The correlation of Invesco DB 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 DB Correlation With Market

Good diversification

The correlation between Invesco DB Dollar and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DB Dollar and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco DB Dollar. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Invesco Etf

0.99	EUO	ProShares UltraShort Euro	Pair Corr
0.84	YCS	ProShares UltraShort Yen	Pair Corr
0.67	WINN	Harbor Long Term	Pair Corr
0.91	YEAR	AB Ultra Short	Pair Corr
0.94	ICSH	iShares Ultra Short	Pair Corr
0.96	MINT	PIMCO Enhanced Short	Pair Corr
0.93	HAPR	Innovator Premium Income	Pair Corr
0.84	FLDR	Fidelity Low Duration	Pair Corr
0.68	PTNQ	Pacer Trendpilot 100	Pair Corr
0.66	FETH	Fidelity Advantage Ether Buyout Trend	Pair Corr
0.82	STK	Columbia Seligman Premium	Pair Corr
0.81	YMAG	YieldMax Magnificent	Pair Corr
0.76	XCCC	BondBloxx ETF Trust	Pair Corr
0.66	ETH	Grayscale Ethereum Mini Buyout Trend	Pair Corr
0.64	MMLG	First Trust Exchange	Pair Corr
0.69	NBOS	Neuberger Berman ETF	Pair Corr
0.76	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.96	TFLO	iShares Treasury Floating	Pair Corr
0.72	WANT	Direxion Daily Cnsmr	Pair Corr
0.96	BILS	SPDR Series Trust	Pair Corr
0.63	XOUT	GraniteShares XOUT Large	Pair Corr
0.61	GSG	iShares SP GSCI	Pair Corr

Moving against Invesco Etf

0.99	UDN	Invesco DB Dollar	Pair Corr
0.9	VIIX	VIIX	Pair Corr
0.87	FNGD	MicroSectors FANG Index	Pair Corr
0.54	VXX	iPath Series B	Pair Corr
0.54	VIXY	ProShares VIX Short	Pair Corr
0.47	DUKH	Ocean Park High	Pair Corr
0.37	SMI	VanEck Vectors ETF	Pair Corr

Related Correlations Analysis

	UDN	FXE	FXY	TLT	TBT
UDN		0.99	0.82	0.79	-0.81	UDN
FXE	0.99		0.72	0.7	-0.73	FXE
FXY	0.82	0.72		0.94	-0.94	FXY
TLT	0.79	0.7	0.94		-1.0	TLT
TBT	-0.81	-0.73	-0.94	-1.0		TBT
	UDN	FXE	FXY	TLT	TBT

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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

FXE	+ 0.99	UDN
TLT	+ 0.94	FXY
FXY	+ 0.82	UDN
TLT	+ 0.79	UDN
FXY	+ 0.72	FXE
TLT	+ 0.7	FXE

High negative correlations

TBT	- 1.0	TLT
TBT	- 0.94	FXY
TBT	- 0.81	UDN
TBT	- 0.73	FXE

Invesco DB Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DB 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 DB'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
UDN	0.37	(0.09)	0.00	(1.30)	0.00	0.00	0.77	(0.69)	2.30
FXE	0.37	(0.09)	0.00	(1.18)	0.00	0.00	0.78	(0.80)	2.24
FXY	0.50	(0.07)	0.00	(1.00)	0.00	0.00	0.95	(0.89)	3.06
TLT	0.70	(0.10)	0.00	(0.58)	0.00	0.00	1.27	(1.51)	4.28
TBT	1.38	0.22	0.12	(0.66)	1.56	(1.65)	3.08	(2.89)	10.37

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