Invesco India Correlations

PIN Etf

USD 25.08 0.39 1.58%

The current 90-days correlation between Invesco India ETF and WisdomTree India Earnings is 0.97 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco India moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco India ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco India Correlation With Market

Modest diversification

The correlation between Invesco India ETF and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco India ETF 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 India ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Invesco Etf

1.0	INDA	iShares MSCI India Low Volatility	Pair Corr
1.0	EPI	WisdomTree India Earnings	Pair Corr
0.99	INDSX	Financial Investors Trust Steady Growth	Pair Corr
0.98	SMIN	iShares MSCI India Low Volatility	Pair Corr
1.0	FLIN	Franklin FTSE India	Pair Corr
0.95	GLIN	VanEck India Growth	Pair Corr
0.91	NFTY	First Trust India	Pair Corr
0.63	MAGS	Roundhill Magnificent	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.67	MSFT	Microsoft	Pair Corr

Moving against Invesco Etf

0.82	IGA	Voya Global Advantage	Pair Corr
0.81	T	ATT Inc Earnings Call This Week	Pair Corr
0.49	INTC	Intel	Pair Corr
0.83	KO	Coca Cola	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr
0.69	IBM	International Business	Pair Corr
0.68	CSCO	Cisco Systems	Pair Corr
0.67	GE	GE Aerospace	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.61	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.56	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		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	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Invesco India Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco India 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 India'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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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