Invesco Financials Correlations

XLFS Etf

USD 419.20 3.25 0.77%

The current 90-days correlation between Invesco Financials and Lyxor MSCI World is 0.16 (i.e., Average diversification). The correlation of Invesco Financials 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 Financials Correlation With Market

Poor diversification

The correlation between Invesco Financials SP and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Financials SP and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Invesco Financials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco Financials when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco Financials - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco Financials SP to buy it.

Moving together with Invesco Etf

0.88	IUFS	iShares SP 500	Pair Corr
0.69	SX7EEX	iShares EURO STOXX	Pair Corr
0.77	STZX	SPDR MSCI Europe	Pair Corr
0.65	LYBNK	Multi Units Luxembourg	Pair Corr
0.66	SX7PEX	iShares STOXX Europe	Pair Corr
0.66	X7PS	Invesco STOXX Europe	Pair Corr
0.85	LYFINW	Lyxor MSCI World	Pair Corr
0.62	CSSPX	iShares Core SP	Pair Corr
0.62	IUSA	iShares SP 500	Pair Corr
0.79	DAXEX	iShares Core DAX	Pair Corr
0.66	DJSXE	iShares Core EURO	Pair Corr
0.65	XEOU	Xtrackers MSCI Europe	Pair Corr

Moving against Invesco Etf

0.37

SXIPEX

iShares STOXX Europe

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.43	0.44	-0.01	-0.57	0.03	0.31	0.43	0.45	META
MSFT	-0.41		0.72	-0.56	-0.09	0.49	0.62	0.04	-0.8	-0.83	MSFT
UBER	-0.43	0.72		-0.49	0.12	0.59	0.23	-0.16	-0.8	-0.59	UBER
F	0.44	-0.56	-0.49		-0.39	-0.33	-0.1	0.38	0.71	0.65	F
T	-0.01	-0.09	0.12	-0.39		0.27	-0.38	-0.15	-0.12	-0.09	T
A	-0.57	0.49	0.59	-0.33	0.27		0.12	-0.06	-0.41	-0.62	A
CRM	0.03	0.62	0.23	-0.1	-0.38	0.12		0.59	-0.29	-0.64	CRM
JPM	0.31	0.04	-0.16	0.38	-0.15	-0.06	0.59		0.25	-0.11	JPM
MRK	0.43	-0.8	-0.8	0.71	-0.12	-0.41	-0.29	0.25		0.72	MRK
XOM	0.45	-0.83	-0.59	0.65	-0.09	-0.62	-0.64	-0.11	0.72		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.72	MSFT
XOM	+ 0.72	MRK
MRK	+ 0.71	F
XOM	+ 0.65	F
CRM	+ 0.62	MSFT
A	+ 0.59	UBER

High negative correlations

XOM	- 0.83	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.64	CRM
XOM	- 0.62	A
XOM	- 0.59	UBER

Invesco Financials Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Financials 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 Financials' 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
META	1.55	(0.03)	(0.02)	0.02	1.62	(1.79)	3.43	(2.72)	13.36
MSFT	1.23	(0.36)	0.00	(1.95)	0.00	0.00	1.78	(2.70)	13.28
UBER	1.57	(0.43)	0.00	(0.52)	0.00	0.00	2.46	(5.06)	10.23
F	1.22	0.04	0.04	0.10	1.20	(1.45)	3.38	(2.35)	7.16
T	0.95	0.11	0.06	0.72	0.94	(1.05)	2.02	(1.76)	4.31
A	1.22	(0.18)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.64	(0.42)	0.00	(0.32)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.12	(0.03)	0.00	0.03	1.63	(1.14)	2.18	(3.11)	7.38
MRK	1.32	0.46	0.31	0.65	1.07	(1.63)	3.59	(1.98)	8.09
XOM	1.15	0.00	0.27	0.00	0.92	(1.37)	2.69	(2.11)	5.85

Be your own money manager

Our tools can tell you how much better you can do entering a position in Invesco Financials without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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