Invesco CurrencyShares Correlations

FXF Etf

USD 100.39 0.21 0.21%

The current 90-days correlation between Invesco CurrencyShares and Invesco CurrencyShares Australian is 0.53 (i.e., Very weak 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

Significant diversification

The correlation between Invesco CurrencyShares Swiss and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco CurrencyShares Swiss 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 Swiss. 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

0.94	FXE	Invesco CurrencyShares	Pair Corr
0.77	FXY	Invesco CurrencyShares	Pair Corr
0.95	FXB	Invesco CurrencyShares	Pair Corr
0.63	FXA	Invesco CurrencyShares	Pair Corr
0.77	SPIB	SPDR Barclays Interm Sell-off Trend	Pair Corr
0.61	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	BBEM	JP Morgan Exchange	Pair Corr
0.94	VNM	VanEck Vietnam ETF	Pair Corr
0.78	CGRO	Tidal Trust II	Pair Corr
0.64	BKT	BlackRock Income Closed	Pair Corr
0.67	JMST	JPMorgan Ultra Short	Pair Corr
0.69	EEMX	SPDR MSCI Emerging Potential Growth	Pair Corr
0.84	TAIL	Cambria Tail Risk	Pair Corr
0.66	GHMS	Goose Hollow Multi	Pair Corr
0.68	SPHD	Invesco SP 500	Pair Corr
0.77	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.7	LIAE	Stone Ridge 2050	Pair Corr
0.69	ACWV	iShares MSCI Global	Pair Corr

Moving against Invesco Etf

0.78	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.77	TECL	Direxion Daily Technology	Pair Corr
0.77	ROM	ProShares Ultra Tech	Pair Corr
0.77	QLD	ProShares Ultra QQQ	Pair Corr
0.76	SMH	VanEck Semiconductor ETF	Pair Corr
0.76	SPXL	Direxion Daily SP500	Pair Corr
0.76	SOXX	iShares Semiconductor ETF	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.73	UPRO	ProShares UltraPro SP500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.56	-0.5	0.23	0.43	0.32	0.9	-0.71	-0.07	META
MSFT	0.02		-0.59	-0.04	-0.83	0.75	0.88	0.21	0.41	-0.57	MSFT
UBER	0.56	-0.59		-0.31	0.78	-0.3	-0.5	0.48	-0.84	0.55	UBER
F	-0.5	-0.04	-0.31		0.06	-0.12	-0.19	-0.35	0.4	0.38	F
T	0.23	-0.83	0.78	0.06		-0.65	-0.74	0.07	-0.63	0.59	T
A	0.43	0.75	-0.3	-0.12	-0.65		0.83	0.62	0.15	-0.41	A
CRM	0.32	0.88	-0.5	-0.19	-0.74	0.83		0.42	0.23	-0.64	CRM
JPM	0.9	0.21	0.48	-0.35	0.07	0.62	0.42		-0.6	0.03	JPM
MRK	-0.71	0.41	-0.84	0.4	-0.63	0.15	0.23	-0.6		-0.36	MRK
XOM	-0.07	-0.57	0.55	0.38	0.59	-0.41	-0.64	0.03	-0.36		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	+ 0.9	META
CRM	+ 0.88	MSFT
CRM	+ 0.83	A
T	+ 0.78	UBER
A	+ 0.75	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.83	MSFT
CRM	- 0.74	T
MRK	- 0.71	META
A	- 0.65	T
XOM	- 0.64	CRM

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	1.61	0.05	0.02	0.04	2.24	(1.45)	2.96	(3.73)	8.90
MSFT	1.07	(0.17)	0.00	(0.20)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.31	0.14	0.48	2.11	(2.12)	4.72	(3.13)	12.75
F	1.44	0.11	0.05	(0.36)	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	(24.36)	1.45	(1.12)	1.90	(1.55)	11.66
A	1.13	(0.15)	0.00	(0.15)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.22)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.09	0.14	0.08	0.11	1.55	(1.09)	2.16	(1.98)	6.85
MRK	1.22	(0.15)	0.00	1.32	0.00	0.00	2.07	(2.25)	11.58
XOM	1.02	0.17	0.12	0.40	1.24	(1.06)	2.55	(2.36)	5.89

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