Invesco Exchange Correlations

BSCW Etf

USD 20.56 0.02 0.1%

The current 90-days correlation between Invesco Exchange Traded and Invesco BulletShares 2024 is -0.02 (i.e., Good diversification). The correlation of Invesco Exchange 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 Exchange Correlation With Market

Significant diversification

The correlation between Invesco Exchange Traded Self I and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Exchange Traded Self I and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Exchange Traded Self Indexed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Invesco Etf

0.93	IBDS	iShares iBonds Dec	Pair Corr
0.93	PMBS	PIMCO Mortgage Backed	Pair Corr
0.88	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.62	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.69	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Moving against Invesco Etf

0.74	DSJA	DSJA	Pair Corr
0.68	IBDP	iShares iBonds Dec	Pair Corr
0.67	BSCO	Invesco BulletShares 2024	Pair Corr
0.65	IBTD	IShares	Pair Corr
0.63	IBDO	IShares	Pair Corr
0.62	RSPY	Tuttle Capital Management	Pair Corr
0.6	BSCP	Invesco BulletShares 2025	Pair Corr
0.6	IBDQ	iShares iBonds Dec	Pair Corr
0.57	INTC	Intel Sell-off Trend	Pair Corr
0.56	BSCN	Invesco	Pair Corr
0.49	MEME	Roundhill Investments	Pair Corr
0.66	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.64	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.64	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.61	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.44	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.44	T	ATT Inc Sell-off Trend	Pair Corr
0.42	DIS	Walt Disney Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.11	0.06	0.47	0.22	0.66	0.44	-0.43	0.42	META
MSFT	0.32		-0.24	0.08	0.27	0.13	0.2	0.12	0.15	-0.51	MSFT
UBER	0.11	-0.24		0.02	-0.55	0.18	-0.38	-0.34	0.29	0.39	UBER
F	0.06	0.08	0.02		0.33	-0.45	0.43	0.61	-0.42	0.35	F
T	0.47	0.27	-0.55	0.33		-0.34	0.87	0.85	-0.74	0.06	T
A	0.22	0.13	0.18	-0.45	-0.34		-0.29	-0.48	0.58	-0.05	A
CRM	0.66	0.2	-0.38	0.43	0.87	-0.29		0.92	-0.85	0.31	CRM
JPM	0.44	0.12	-0.34	0.61	0.85	-0.48	0.92		-0.87	0.28	JPM
MRK	-0.43	0.15	0.29	-0.42	-0.74	0.58	-0.85	-0.87		-0.41	MRK
XOM	0.42	-0.51	0.39	0.35	0.06	-0.05	0.31	0.28	-0.41		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

JPM	+ 0.92	CRM
CRM	+ 0.87	T
JPM	+ 0.85	T
CRM	+ 0.66	META
JPM	+ 0.61	F
MRK	+ 0.58	A

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.85	CRM
MRK	- 0.74	T
T	- 0.55	UBER
XOM	- 0.51	MSFT
JPM	- 0.48	A

Invesco Exchange Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Exchange 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 Exchange'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
META	1.15	0.26	0.13	0.63	1.17	(1.34)	3.22	(1.87)	8.02
MSFT	0.88	0.07	0.01	0.23	1.35	(0.87)	2.09	(1.57)	8.19
UBER	1.78	(0.22)	0.00	(0.07)	0.00	0.00	2.69	(2.88)	20.41
F	1.43	(0.15)	(0.04)	0.01	2.22	(1.41)	2.53	(2.90)	11.21
T	0.98	0.15	0.03	3.35	1.06	(1.06)	2.36	(1.99)	6.74
A	1.22	0.01	(0.04)	0.14	1.48	(1.28)	2.71	(2.41)	9.02
CRM	1.46	0.39	0.28	0.39	1.01	(1.68)	3.59	(1.93)	13.87
JPM	1.08	(0.02)	0.05	0.10	1.30	(1.20)	1.73	(1.44)	15.87
MRK	0.92	(0.22)	0.00	(0.77)	0.00	0.00	2.00	(2.17)	4.89
XOM	0.96	(0.05)	0.00	(0.07)	0.00	0.00	1.83	(2.65)	6.06

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