Invesco China Correlations

CQQQ Etf

USD 45.16 1.04 2.25%

The current 90-days correlation between Invesco China Technology and KraneShares CSI China is 0.9 (i.e., Almost no diversification). The correlation of Invesco China 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 China Correlation With Market

Significant diversification

The correlation between Invesco China Technology and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco China Technology 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 China Technology. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Invesco Etf

0.98	KWEB	KraneShares CSI China	Pair Corr
0.89	FXI	iShares China Large	Pair Corr
0.88	ASHR	Xtrackers Harvest CSI	Pair Corr
0.92	GXC	SPDR SP China	Pair Corr
0.93	CXSE	WisdomTree China	Pair Corr
0.83	EWH	iShares MSCI Hong	Pair Corr
0.87	KBA	KraneShares Bosera MSCI	Pair Corr
0.86	CNYA	iShares MSCI China	Pair Corr
0.81	PMBS	PIMCO Mortgage Backed	Pair Corr
0.87	YCL	ProShares Ultra Yen	Pair Corr
0.86	FXY	Invesco CurrencyShares	Pair Corr
0.73	ULE	ProShares Ultra Euro	Pair Corr
0.69	GDXU	MicroSectors Gold Miners	Pair Corr
0.84	MCD	McDonalds	Pair Corr
0.72	PG	Procter Gamble	Pair Corr
0.84	T	ATT Inc Aggressive Push	Pair Corr
0.71	IBM	International Business	Pair Corr
0.88	KO	Coca Cola Sell-off Trend	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr

Moving against Invesco Etf

0.62	AXP	American Express	Pair Corr
0.56	BAC	Bank of America Aggressive Push	Pair Corr
0.55	AA	Alcoa Corp	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.47	DIS	Walt Disney	Pair Corr
0.43	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	KWEB	MCHI	CHIQ	ASHR	EMQQ
KWEB		0.87	0.88	0.85	0.88	KWEB
MCHI	0.87		0.99	0.8	0.96	MCHI
CHIQ	0.88	0.99		0.82	0.96	CHIQ
ASHR	0.85	0.8	0.82		0.78	ASHR
EMQQ	0.88	0.96	0.96	0.78		EMQQ
	KWEB	MCHI	CHIQ	ASHR	EMQQ

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Invesco China Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco China 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 China'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
KWEB	1.95	0.28	0.12	0.50	2.10	(2.17)	3.81	(3.56)	11.40
MCHI	1.36	0.23	0.15	0.56	1.44	(1.60)	2.63	(2.72)	7.91
CHIQ	1.57	0.20	0.10	0.36	1.75	(1.77)	3.59	(3.13)	8.45
ASHR	0.90	0.00	0.00	(0.01)	1.14	(0.90)	1.58	(1.96)	5.60
EMQQ	1.25	0.11	0.06	0.16	1.49	(1.40)	2.60	(3.01)	8.87

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