Invesco BulletShares Correlations

BSMU Etf

USD 21.56 0.09 0.42%

The current 90-days correlation between Invesco BulletShares 2030 and Invesco BulletShares 2028 is 0.01 (i.e., Significant diversification). The correlation of Invesco BulletShares 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 BulletShares Correlation With Market

Good diversification

The correlation between Invesco BulletShares 2030 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2030 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 BulletShares 2030. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Invesco Etf

0.62	IBMN	iShares iBonds Dec	Pair Corr
0.67	IBMO	iShares iBonds Dec	Pair Corr
0.72	IBMP	iShares iBonds Dec	Pair Corr
0.74	IBMQ	iShares Trust	Pair Corr
0.64	BSMP	Invesco BulletShares 2025	Pair Corr
0.8	BSMQ	Invesco BulletShares 2026	Pair Corr
0.69	SMI	VanEck Vectors ETF	Pair Corr
0.72	IBM	International Business	Pair Corr
0.7	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.74	KO	Coca Cola Sell-off Trend	Pair Corr
0.75	PG	Procter Gamble	Pair Corr
0.72	MCD	McDonalds	Pair Corr

Moving against Invesco Etf

0.59	CAT	Caterpillar	Pair Corr
0.56	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	BSMS	BSMR	BSMT	BSMN	BSMQ
BSMS		0.93	0.94	0.0	0.88	BSMS
BSMR	0.93		0.92	0.0	0.94	BSMR
BSMT	0.94	0.92		0.0	0.86	BSMT
BSMN	0.0	0.0	0.0		0.0	BSMN
BSMQ	0.88	0.94	0.86	0.0		BSMQ
	BSMS	BSMR	BSMT	BSMN	BSMQ

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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

BSMT	+ 0.94	BSMS
BSMQ	+ 0.94	BSMR
BSMR	+ 0.93	BSMS
BSMT	+ 0.92	BSMR
BSMQ	+ 0.88	BSMS
BSMQ	+ 0.86	BSMT

High negative correlations

BSMQ	- 0.0	BSMN
BSMN	- 0.0	BSMT
BSMN	- 0.0	BSMR
BSMN	- 0.0	BSMS

Invesco BulletShares Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco BulletShares 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 BulletShares' 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
BSMS	0.12	(0.01)	0.00	(0.20)	0.00	0.00	0.26	(0.26)	0.86
BSMR	0.13	0.00	(0.04)	(0.92)	0.13	(0.15)	0.30	(0.30)	0.68
BSMT	0.16	(0.02)	0.00	(0.33)	0.00	0.00	0.35	(0.35)	0.84
BSMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BSMQ	0.09	0.00	(0.05)	0.00	0.06	(0.11)	0.21	(0.17)	0.55

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