Invesco CurrencyShares Correlations

FXB Etf

USD 121.94 0.48 0.40%

The current 90-days correlation between Invesco CurrencyShares and Invesco CurrencyShares Australian is 0.61 (i.e., Poor diversification). The correlation of Invesco CurrencyShares 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 CurrencyShares Correlation With Market

Modest diversification

The correlation between Invesco CurrencyShares British and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco CurrencyShares British 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 CurrencyShares British. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Invesco Etf

0.86	FXE	Invesco CurrencyShares	Pair Corr
0.83	FXF	Invesco CurrencyShares	Pair Corr
0.69	FXY	Invesco CurrencyShares	Pair Corr
0.68	FXC	Invesco CurrencyShares	Pair Corr
0.77	FXA	Invesco CurrencyShares	Pair Corr
0.83	DD	Dupont De Nemours	Pair Corr
0.69	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr

Moving against Invesco Etf

0.49	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.39	AXP	American Express	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.34	0.41	-0.68	0.78	0.45	-0.1	0.85	-0.78	-0.4	META
MSFT	-0.34		-0.65	0.28	-0.48	0.2	0.71	-0.47	0.59	-0.15	MSFT
UBER	0.41	-0.65		-0.02	0.66	-0.13	-0.5	0.64	-0.7	0.5	UBER
F	-0.68	0.28	-0.02		-0.38	-0.16	0.33	-0.41	0.58	0.77	F
T	0.78	-0.48	0.66	-0.38		0.06	-0.2	0.73	-0.78	0.0	T
A	0.45	0.2	-0.13	-0.16	0.06		0.21	0.53	-0.02	-0.29	A
CRM	-0.1	0.71	-0.5	0.33	-0.2	0.21		-0.25	0.43	-0.06	CRM
JPM	0.85	-0.47	0.64	-0.41	0.73	0.53	-0.25		-0.78	-0.08	JPM
MRK	-0.78	0.59	-0.7	0.58	-0.78	-0.02	0.43	-0.78		0.1	MRK
XOM	-0.4	-0.15	0.5	0.77	0.0	-0.29	-0.06	-0.08	0.1		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

JPM	+ 0.85	META
T	+ 0.78	META
XOM	+ 0.77	F
JPM	+ 0.73	T
CRM	+ 0.71	MSFT
T	+ 0.66	UBER

High negative correlations

MRK	- 0.78	JPM
MRK	- 0.78	T
MRK	- 0.78	META
MRK	- 0.7	UBER
F	- 0.68	META
UBER	- 0.65	MSFT

Invesco CurrencyShares Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco CurrencyShares 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 CurrencyShares' 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	1.30	0.26	0.16	0.64	1.38	(1.36)	3.22	(2.26)	7.11
MSFT	0.99	(0.06)	0.00	(0.23)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.95	0.11	0.03	(0.29)	2.92	(1.97)	5.40	(5.82)	12.28
F	1.35	(0.21)	0.00	(0.27)	0.00	0.00	2.46	(2.90)	10.97
T	0.92	0.24	0.21	0.47	0.95	(1.07)	1.80	(1.75)	7.94
A	1.09	0.08	0.07	0.13	1.03	(1.33)	2.81	(1.91)	6.12
CRM	1.43	(0.07)	0.00	(0.08)	0.00	0.00	3.10	(2.95)	15.92
JPM	0.90	0.08	0.06	0.11	1.21	(0.99)	1.92	(1.51)	6.85
MRK	1.22	(0.07)	0.00	(1.13)	0.00	0.00	2.43	(1.81)	11.57
XOM	0.94	(0.13)	0.00	(0.24)	0.00	0.00	1.76	(2.14)	5.69

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