Invesco Global Correlations
| PIO Etf | USD 40.53 0.15 0.37% |
The current 90-days correlation between Invesco Global Water and Invesco SP Global is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Global Water moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Invesco Global Correlation With Market
Very weak diversification
The correlation between Invesco Global Water and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Water and DJI in the same portfolio, assuming nothing else is changed.
Invesco |
Moving together with Invesco Etf
| 0.79 | MOO | VanEck Agribusiness ETF | PairCorr |
| 0.64 | MKC | McCormick Company Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.7 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.68 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.86 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.67 | GE | GE Aerospace Sell-off Trend | PairCorr |
| 0.69 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
Moving against Invesco Etf
| 0.48 | VR | VR | PairCorr |
| 0.32 | KONG | Formidable Fortress ETF | PairCorr |
| 0.48 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.46 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.44 | TRV | The Travelers Companies Sell-off Trend | PairCorr |
| 0.4 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.32 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
Related Correlations Analysis
| 0.31 | 0.38 | 0.63 | 0.22 | CGW | ||
| 0.31 | 0.99 | -0.35 | 0.5 | PHO | ||
| 0.38 | 0.99 | -0.29 | 0.51 | FIW | ||
| 0.63 | -0.35 | -0.29 | -0.43 | PBD | ||
| 0.22 | 0.5 | 0.51 | -0.43 | CWCO | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CGW | 0.57 | (0.06) | 0.00 | (0.04) | 0.00 | 1.07 | 3.54 | |||
| PHO | 0.66 | (0.04) | (0.07) | 0.05 | 0.67 | 1.28 | 4.02 | |||
| FIW | 0.64 | (0.03) | (0.06) | 0.05 | 0.72 | 1.30 | 4.05 | |||
| PBD | 1.29 | (0.14) | 0.00 | (2.55) | 0.00 | 2.08 | 9.68 | |||
| CWCO | 1.32 | (0.08) | (0.05) | 0.02 | 1.34 | 2.93 | 7.60 |