Invesco Actively Correlations

EFAA Etf

49.83 0.25 0.50%

The current 90-days correlation between Invesco Actively Managed and JPMorgan Fundamental Data is 0.68 (i.e., Poor diversification). The correlation of Invesco Actively 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 Actively Correlation With Market

Very weak diversification

The correlation between Invesco Actively Managed and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Actively Managed 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 Actively Managed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Invesco Etf

0.76	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.67	KNG	FT Cboe Vest	Pair Corr
0.92	SIXH	ETC 6 Meridian	Pair Corr
0.65	IDME	International Drawdown	Pair Corr
0.92	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.68	INTC	Intel Sell-off Trend	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.8	IBM	International Business	Pair Corr
0.88	KO	Coca Cola Sell-off Trend	Pair Corr
0.93	T	ATT Inc Aggressive Push	Pair Corr
0.85	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.83	MMM	3M Company	Pair Corr
0.78	MCD	McDonalds	Pair Corr

Moving against Invesco Etf

0.71	USD	ProShares Ultra Semi	Pair Corr
0.68	NAIL	Direxion Daily Homeb	Pair Corr
0.68	TECL	Direxion Daily Technology	Pair Corr
0.62	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.59	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.57	FNGO	MicroSectors FANG Index	Pair Corr
0.46	SPXL	Direxion Daily SP500	Pair Corr
0.46	UPRO	ProShares UltraPro SP500	Pair Corr
0.44	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.37	RYLD	Global X Russell	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.49	AXP	American Express	Pair Corr
0.45	HD	Home Depot	Pair Corr
0.4	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	MCDS	VO	MDYG	MDYV	MIDE	MYLD	EFAA	EFFE	EFFI
MCDS		0.95	0.98	0.97	0.99	0.95	-0.47	-0.35	-0.54	MCDS
VO	0.95		0.88	0.96	0.93	0.81	-0.17	-0.11	-0.27	VO
MDYG	0.98	0.88		0.94	0.99	0.98	-0.59	-0.45	-0.67	MDYG
MDYV	0.97	0.96	0.94		0.98	0.9	-0.34	-0.29	-0.43	MDYV
MIDE	0.99	0.93	0.99	0.98		0.96	-0.48	-0.38	-0.56	MIDE
MYLD	0.95	0.81	0.98	0.9	0.96		-0.68	-0.49	-0.73	MYLD
EFAA	-0.47	-0.17	-0.59	-0.34	-0.48	-0.68		0.8	0.96	EFAA
EFFE	-0.35	-0.11	-0.45	-0.29	-0.38	-0.49	0.8		0.81	EFFE
EFFI	-0.54	-0.27	-0.67	-0.43	-0.56	-0.73	0.96	0.81		EFFI
	MCDS	VO	MDYG	MDYV	MIDE	MYLD	EFAA	EFFE	EFFI

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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

MIDE	+ 0.99	MCDS
MIDE	+ 0.99	MDYG
MDYG	+ 0.98	MCDS
MYLD	+ 0.98	MDYG
MIDE	+ 0.98	MDYV
MDYV	+ 0.97	MCDS

High negative correlations

EFFI	- 0.73	MYLD
EFAA	- 0.68	MYLD
EFFI	- 0.67	MDYG
EFAA	- 0.59	MDYG
EFFI	- 0.56	MIDE
EFFI	- 0.54	MCDS

Invesco Actively Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Actively 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 Actively'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
MCDS	0.81	(0.10)	0.00	(0.10)	0.00	0.00	1.46	(2.08)	4.01
VO	0.75	(0.05)	0.00	(0.05)	0.00	0.00	1.48	(1.82)	3.64
MDYG	0.98	(0.14)	0.00	(0.12)	0.00	0.00	1.72	(2.37)	4.87
MDYV	0.81	(0.08)	0.00	(0.08)	0.00	0.00	1.43	(1.87)	3.87
MIDE	0.87	(0.11)	0.00	(0.10)	0.00	0.00	1.55	(1.98)	4.05
MYLD	0.80	(0.18)	0.00	(0.20)	0.00	0.00	1.33	(1.65)	4.22
EFAA	0.50	0.09	0.13	0.22	0.53	(0.52)	1.01	(0.95)	3.48
EFFE	0.86	0.09	0.07	0.23	1.08	(0.96)	1.61	(2.05)	6.51
EFFI	0.67	0.09	0.09	(0.32)	0.81	(0.71)	1.45	(1.31)	4.21

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