Invesco DB Correlations

DBA Etf

USD 26.74 0.00 0.00%

The current 90-days correlation between Invesco DB Agriculture and VanEck Agribusiness ETF is 0.19 (i.e., Average diversification). 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.

Invesco DB Correlation With Market

Average diversification

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

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco DB Agriculture. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Invesco Etf

0.61	DUSL	Direxion Daily Indus	Pair Corr
0.8	JPM	JPMorgan Chase	Pair Corr
0.72	WMT	Walmart Aggressive Push	Pair Corr
0.66	GE	GE Aerospace	Pair Corr

Moving against Invesco Etf

0.67

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	DBC	MOO	DBB	CORN	UNG
DBC		0.6	0.38	0.82	0.58	DBC
MOO	0.6		0.52	0.55	0.49	MOO
DBB	0.38	0.52		0.09	0.73	DBB
CORN	0.82	0.55	0.09		0.23	CORN
UNG	0.58	0.49	0.73	0.23		UNG
	DBC	MOO	DBB	CORN	UNG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
DBC	0.55	0.06	0.18	0.79	0.56	(0.58)	1.45	(1.11)	4.21
MOO	0.78	0.04	0.07	0.01	0.97	(0.81)	1.76	(1.35)	4.16
DBB	0.61	0.02	0.13	(3.61)	0.66	(0.67)	1.20	(0.91)	3.11
CORN	0.88	0.05	0.10	0.38	1.03	(0.91)	1.47	(1.85)	5.32
UNG	3.72	0.61	0.17	(0.72)	3.95	(3.98)	7.92	(6.82)	22.75

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC