Invesco Global Correlations

PBD Etf

USD 11.44 0.12 1.04%

The current 90-days correlation between Invesco Global Clean and Invesco WilderHill Clean is 0.92 (i.e., Almost no diversification). The correlation of Invesco Global 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 Global Correlation With Market

Good diversification

The correlation between Invesco Global Clean and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Clean and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Global Clean. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Invesco Etf

0.81

CTEC

Global X CleanTech

Pair Corr

Moving against Invesco Etf

0.4	JNJ	Johnson Johnson	Pair Corr
0.38	SAGP	Advisorsa Inner	Pair Corr
0.38	MLPR	ETRACS Quarterly Pay	Pair Corr
0.33	GDXU	MicroSectors Gold Miners	Pair Corr
0.44	MMM	3M Company	Pair Corr
0.36	T	ATT Inc Earnings Call Today	Pair Corr
0.36	IBM	International Business	Pair Corr
0.32	KO	Coca Cola	Pair Corr
0.31	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	PBW	FAN	QCLN	ACES	CNRG
PBW		-0.58	0.99	0.99	0.95	PBW
FAN	-0.58		-0.62	-0.58	-0.63	FAN
QCLN	0.99	-0.62		0.99	0.93	QCLN
ACES	0.99	-0.58	0.99		0.93	ACES
CNRG	0.95	-0.63	0.93	0.93		CNRG
	PBW	FAN	QCLN	ACES	CNRG

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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

QCLN	+ 0.99	PBW
ACES	+ 0.99	PBW
ACES	+ 0.99	QCLN
CNRG	+ 0.95	PBW
CNRG	+ 0.93	QCLN
CNRG	+ 0.93	ACES

High negative correlations

CNRG	- 0.63	FAN
QCLN	- 0.62	FAN
ACES	- 0.58	FAN
FAN	- 0.58	PBW

Invesco Global Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Global 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 Global'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
PBW	2.01	(0.26)	0.00	2.26	0.00	0.00	3.19	(4.02)	11.53
FAN	0.91	0.07	0.11	(1.26)	1.12	(0.95)	1.92	(2.08)	4.51
QCLN	1.52	(0.27)	0.00	1.57	0.00	0.00	2.25	(3.03)	9.45
ACES	1.36	(0.19)	0.00	1.29	0.00	0.00	2.11	(2.79)	8.36
CNRG	1.71	(0.22)	0.00	2.41	0.00	0.00	2.81	(3.68)	10.22

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