Invesco Global Correlations

PGHY Etf  USD 20.02  0.08  0.40%   
The current 90-days correlation between Invesco Global Short and VanEck Emerging Markets is 0.22 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco Global Correlation With Market

Good diversification

The correlation between Invesco Global Short and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Short 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 Short. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Invesco Etf

  0.81HYG iShares iBoxx HighPairCorr
  0.81USHY iShares Broad USDPairCorr
  0.76JNK SPDR Bloomberg HighPairCorr
  0.78SHYG iShares 0 5PairCorr
  0.8HYLB Xtrackers USD HighPairCorr
  0.76SJNK SPDR Bloomberg ShortPairCorr
  0.84ANGL VanEck Fallen AngelPairCorr
  0.83FALN iShares Fallen AngelsPairCorr
  0.73HYLS First Trust TacticalPairCorr
  0.87HYDW Xtrackers Low BetaPairCorr
  0.79BABX GraniteShares 175x LongPairCorr
  0.76GDXU MicroSectors Gold MinersPairCorr
  0.8XPP ProShares Ultra FTSEPairCorr
  0.75JNUG Direxion Daily JuniorPairCorr
  0.61PG Procter GamblePairCorr
  0.64KO Coca ColaPairCorr
  0.65JNJ Johnson JohnsonPairCorr

Moving against Invesco Etf

  0.45MRK Merck CompanyPairCorr
  0.38MSFT MicrosoftPairCorr
  0.31HPQ HP IncPairCorr
  0.31AXP American ExpressPairCorr

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   
JPMMETA
CRMMSFT
TUBER
CRMA
AMSFT
JPMA
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
CRMT
MRKT
MRKJPM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59  0.02  0.00 (0.05) 0.00 
 2.57 
 8.90 
MSFT  1.12 (0.15) 0.00 (0.28) 0.00 
 2.58 
 10.31 
UBER  1.88  0.41  0.19  0.74  2.06 
 4.72 
 12.75 
F  1.47  0.07  0.03  0.00  2.22 
 2.71 
 10.14 
T  1.04  0.26  0.16  0.40  1.61 
 1.90 
 11.66 
A  1.15 (0.15) 0.00 (0.23) 0.00 
 2.92 
 9.03 
CRM  1.38 (0.27) 0.00 (0.31) 0.00 
 2.72 
 8.88 
JPM  1.10  0.09  0.05  0.02  1.74 
 1.99 
 6.85 
MRK  1.17 (0.11) 0.00  1.52  0.00 
 2.07 
 11.58 
XOM  1.06  0.11  0.10  0.17  1.39 
 2.55 
 5.89