Invesco KBW Correlations

Etfs . USA . 
Etf . Invesco KBW Regional
KBWR Etf  USD 56.50  0.06  0.11%   
The current 90-days correlation between Invesco KBW Regional and First Trust NASDAQ is 0.98 (i.e., Almost no diversification). The correlation of Invesco KBW 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 KBW Correlation With Market

Poor diversification

The correlation between Invesco KBW Regional and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco KBW Regional and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Invesco KBW Regional. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Invesco Etf

  0.69XLF Financial Select Sector Aggressive PushPairCorr
  0.82VFH Vanguard Financials IndexPairCorr
  1.0KRE SPDR SP Regional Sell-off TrendPairCorr
  0.99KBE SPDR SP BankPairCorr
  0.79IYF iShares Financials ETFPairCorr
  0.83FNCL Fidelity MSCI FinancialsPairCorr
  0.83IYG iShares FinancialPairCorr
  0.95FXO First Trust FinancialsPairCorr
  0.97IAT iShares Regional BanksPairCorr
  0.92MPAY Akros Monthly PayoutPairCorr
  0.85CPST Calamos ETF TrustPairCorr
  0.92AXP American Express Sell-off TrendPairCorr
  0.61MSFT MicrosoftPairCorr
  0.62CAT CaterpillarPairCorr
  0.79WMT Walmart Aggressive PushPairCorr
  0.76JPM JPMorgan ChasePairCorr
  0.73HPQ HP IncPairCorr

Moving against Invesco Etf

  0.76BITI ProShares TrustPairCorr
  0.44EUFN iShares MSCI EuropePairCorr
  0.44SPAQ Horizon Kinetics SPACPairCorr
  0.43JNJ Johnson JohnsonPairCorr
  0.38PULS PGIM Ultra ShortPairCorr
  0.51TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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   
PSCF
+ 0.99
QABA
FTXO
+ 0.99
KBWB
FTXO
+ 0.89
QABA
FTXO
+ 0.87
PSCF
KBWB
+ 0.85
QABA
PSCF
+ 0.83
KBWB
  
High negative correlations   
FTXO
- 0.58
KBWP
KBWP
- 0.53
KBWB
KBWP
- 0.41
QABA
PSCF
- 0.35
KBWP

Invesco KBW Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco KBW 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 KBW'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.

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