Invesco Electric Correlations

EVMT Etf

USD 14.48 0.12 0.82%

The current 90-days correlation between Invesco Electric Vehicle and abrdn ETFs is 0.9 (i.e., Almost no diversification). The correlation of Invesco Electric 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 Electric Correlation With Market

Significant diversification

The correlation between Invesco Electric Vehicle and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Electric Vehicle 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 Electric Vehicle. 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

0.78	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.92	VEA	Vanguard FTSE Developed	Pair Corr
0.63	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.75	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.88	KO	Coca Cola Sell-off Trend	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Invesco Etf

0.76	VUG	Vanguard Growth Index	Pair Corr
0.73	VOX	Vanguard Communication	Pair Corr
0.65	SPY	SPDR SP 500	Pair Corr
0.64	DBA	Invesco DB Agriculture	Pair Corr
0.64	VTI	Vanguard Total Stock	Pair Corr
0.64	IVV	iShares Core SP	Pair Corr
0.48	VB	Vanguard Small Cap	Pair Corr
0.39	VO	Vanguard Mid Cap	Pair Corr
0.8	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.73	ROKT	SPDR SP Kensho	Pair Corr
0.73	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.71	WMT	Walmart	Pair Corr
0.7	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.64	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.45	MSFT	Microsoft	Pair Corr
0.4	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.39	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.72	-0.52	-0.48	0.48	0.39	0.53	0.2	-0.07	-0.56	META
MSFT	0.72		-0.67	-0.42	0.6	-0.03	0.62	0.35	-0.27	-0.7	MSFT
UBER	-0.52	-0.67		0.56	-0.74	0.17	-0.78	-0.54	0.63	0.81	UBER
F	-0.48	-0.42	0.56		-0.13	-0.15	-0.15	0.18	0.04	0.74	F
T	0.48	0.6	-0.74	-0.13		-0.18	0.88	0.77	-0.65	-0.55	T
A	0.39	-0.03	0.17	-0.15	-0.18		-0.22	-0.44	0.65	0.18	A
CRM	0.53	0.62	-0.78	-0.15	0.88	-0.22		0.85	-0.75	-0.59	CRM
JPM	0.2	0.35	-0.54	0.18	0.77	-0.44	0.85		-0.82	-0.38	JPM
MRK	-0.07	-0.27	0.63	0.04	-0.65	0.65	-0.75	-0.82		0.45	MRK
XOM	-0.56	-0.7	0.81	0.74	-0.55	0.18	-0.59	-0.38	0.45		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

CRM	+ 0.88	T
JPM	+ 0.85	CRM
XOM	+ 0.81	UBER
JPM	+ 0.77	T
XOM	+ 0.74	F
MSFT	+ 0.72	META

High negative correlations

MRK	- 0.82	JPM
CRM	- 0.78	UBER
MRK	- 0.75	CRM
T	- 0.74	UBER
XOM	- 0.7	MSFT
UBER	- 0.67	MSFT

Invesco Electric Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Electric 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 Electric'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	1.26	0.07	0.04	0.32	1.44	(1.43)	2.62	(3.15)	7.43
MSFT	0.90	(0.04)	0.00	2.27	0.00	0.00	1.78	(2.23)	8.14
UBER	1.72	(0.19)	0.00	(0.96)	0.00	0.00	2.67	(5.35)	20.41
F	1.39	(0.10)	0.00	(0.34)	0.00	0.00	2.38	(2.81)	11.21
T	0.95	0.08	0.05	(0.34)	1.16	(0.98)	1.93	(1.99)	7.95
A	1.12	(0.12)	0.00	(0.34)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.47	0.33	0.20	6.67	1.34	(1.70)	3.18	(2.88)	14.80
JPM	1.06	0.26	0.19	(17.88)	1.04	(1.25)	1.99	(1.42)	15.87
MRK	0.98	(0.20)	0.00	(1.81)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.77	(0.15)	0.00	(0.76)	0.00	0.00	1.71	(2.14)	6.06

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