Invesco Agriculture Correlations

PDBA Etf

USD 39.80 0.25 0.63%

The current 90-days correlation between Invesco Agriculture and SPDR Gold Shares is 0.04 (i.e., Significant diversification). The correlation of Invesco Agriculture 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 Agriculture Correlation With Market

Average diversification

The correlation between Invesco Agriculture Commodity and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Agriculture Commodity 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 Agriculture Commodity. 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

0.97	DBA	Invesco DB Agriculture	Pair Corr
0.76	BITX	Volatility Shares Trust	Pair Corr
0.85	VCAR	Simplify Volt RoboCar	Pair Corr
0.76	FNGU	MicroSectors FANG Index	Pair Corr
0.78	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.84	RXI	iShares Global Consumer	Pair Corr
0.61	SPY	SPDR SP 500	Pair Corr
0.77	FEDL	UBS AG London	Pair Corr
0.61	VSLU	ETF Opportunities Trust	Pair Corr
0.69	BSCO	Invesco BulletShares 2024	Pair Corr
0.64	LOUP	Innovator Loup Frontier	Pair Corr
0.62	CGUS	Capital Group Core	Pair Corr
0.61	RPG	Invesco SP 500	Pair Corr
0.74	FELG	Fidelity Covington Trust	Pair Corr
0.65	SCHB	Schwab Broad Market	Pair Corr
0.68	SHYL	Xtrackers Short Duration	Pair Corr
0.78	AAPB	GraniteShares ETF Trust	Pair Corr
0.72	QJUN	First Trust Exchange	Pair Corr
0.72	SOFR	SOFR Symbol Change	Pair Corr
0.74	PGRO	Putnam Focused Large	Pair Corr
0.81	ARKQ	ARK Autonomous Technology	Pair Corr
0.67	AIPI	REX AI Equity	Pair Corr
0.69	AAA	Listed Funds Trust	Pair Corr
0.69	APRJ	Innovator Premium Income	Pair Corr
0.82	ETHE	Grayscale Ethereum Trust	Pair Corr

Moving against Invesco Etf

0.59	SLV	iShares Silver Trust	Pair Corr
0.59	SIVR	abrdn Physical Silver	Pair Corr
0.54	GLTR	abrdn Physical Precious	Pair Corr
0.35	GLD	SPDR Gold Shares	Pair Corr
0.35	IAU	iShares Gold Trust	Pair Corr
0.34	GLDM	SPDR Gold MiniShares	Pair Corr
0.34	SGOL	abrdn Physical Gold	Pair Corr
0.34	IAUM	iShares Gold Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.69	-0.51	-0.41	0.48	0.27	0.58	0.3	-0.22	-0.44	META
MSFT	0.69		-0.6	-0.31	0.44	0.09	0.49	0.28	-0.08	-0.76	MSFT
UBER	-0.51	-0.6		0.39	-0.7	0.17	-0.75	-0.52	0.56	0.67	UBER
F	-0.41	-0.31	0.39		0.05	-0.28	0.01	0.34	-0.11	0.61	F
T	0.48	0.44	-0.7	0.05		-0.32	0.88	0.85	-0.72	-0.35	T
A	0.27	0.09	0.17	-0.28	-0.32		-0.32	-0.51	0.67	0.03	A
CRM	0.58	0.49	-0.75	0.01	0.88	-0.32		0.89	-0.8	-0.38	CRM
JPM	0.3	0.28	-0.52	0.34	0.85	-0.51	0.89		-0.84	-0.16	JPM
MRK	-0.22	-0.08	0.56	-0.11	-0.72	0.67	-0.8	-0.84		0.15	MRK
XOM	-0.44	-0.76	0.67	0.61	-0.35	0.03	-0.38	-0.16	0.15		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.89	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
MSFT	+ 0.69	META
XOM	+ 0.67	UBER
MRK	+ 0.67	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.8	CRM
XOM	- 0.76	MSFT
CRM	- 0.75	UBER
MRK	- 0.72	T
T	- 0.7	UBER

Invesco Agriculture Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Agriculture 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 Agriculture'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	1.16	0.06	0.03	0.15	1.43	(1.27)	2.62	(3.15)	7.43
MSFT	0.87	(0.02)	(0.02)	(0.01)	1.63	(0.78)	1.78	(2.23)	8.14
UBER	1.71	(0.32)	0.00	(0.34)	0.00	0.00	2.67	(5.35)	20.41
F	1.44	(0.15)	0.00	(0.08)	0.00	0.00	2.53	(2.90)	11.21
T	0.96	0.11	0.08	0.52	1.12	(1.02)	1.93	(1.99)	7.95
A	1.24	(0.09)	0.00	(0.16)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.48	0.37	0.23	0.30	1.30	(1.66)	3.18	(2.88)	14.80
JPM	1.04	0.16	0.14	0.11	1.08	(1.20)	1.99	(1.44)	15.87
MRK	0.96	(0.27)	0.00	(1.10)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.90	(0.14)	0.00	(0.43)	0.00	0.00	1.83	(2.14)	6.06

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC