Invesco Physical Correlations

SGLD Stock

USD 286.85 3.65 1.29%

The current 90-days correlation between Invesco Physical Gold and Zuger Kantonalbank is -0.3 (i.e., Very good diversification). The correlation of Invesco Physical 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 Physical Correlation With Market

Average diversification

The correlation between Invesco Physical Gold and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Physical Gold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Invesco Physical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco Physical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco Physical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco Physical Gold to buy it.

Moving together with Invesco Stock

0.85	NESN	Nestl SA	Pair Corr
0.95	ROG	Roche Holding AG	Pair Corr
0.95	RO	Roche Holding AG	Pair Corr
0.87	AMS	Ams AG	Pair Corr
0.87	BOSN	Bossard Holding AG	Pair Corr
0.76	INRN	Interroll Holding	Pair Corr
0.74	LUKN	Luzerner Kantonalbank	Pair Corr
0.86	MMM	3M Company	Pair Corr
0.87	BCVN	Banque Cantonale	Pair Corr
0.65	PKTM	PIERER Mobility AG	Pair Corr
0.83	ALLN	Allreal Holding	Pair Corr
0.65	LECN	Leclanche SA	Pair Corr
0.87	SREN	Swiss Re AG	Pair Corr
0.9	EMMN	Emmi AG	Pair Corr
0.67	WARN	Warteck Invest	Pair Corr
0.9	VATN	Valiant Holding AG	Pair Corr
0.92	BRKN	Burkhalter Holding	Pair Corr
0.7	SANN	Santhera Pharmaceuticals	Pair Corr
0.9	OFN	Orell Fuessli Holding	Pair Corr
0.82	DKSH	DKSH Holding AG	Pair Corr
0.94	BUCN	Bucher Industries	Pair Corr
0.87	CICN	Cicor Technologies	Pair Corr
0.72	VETN	Vetropack Holding	Pair Corr
0.93	SLHN	Swiss Life Holding	Pair Corr
0.89	LLBN	Liechtensteinische	Pair Corr
0.85	WKBN	Banque Cantonale	Pair Corr
0.83	TKBP	Thurgauer Kantonalbank	Pair Corr

Moving against Invesco Stock

0.41

SPEX

Spexis AG

Pair Corr

Related Correlations Analysis

	ZUGER	SWON	SWTQ	METN	ZURN	CICN	ELMN
ZUGER		-0.39	0.71	-0.62	0.6	0.69	0.83	ZUGER
SWON	-0.39		-0.21	0.47	-0.19	-0.39	-0.47	SWON
SWTQ	0.71	-0.21		-0.66	0.38	0.54	0.7	SWTQ
METN	-0.62	0.47	-0.66		-0.14	-0.43	-0.56	METN
ZURN	0.6	-0.19	0.38	-0.14		0.88	0.71	ZURN
CICN	0.69	-0.39	0.54	-0.43	0.88		0.86	CICN
ELMN	0.83	-0.47	0.7	-0.56	0.71	0.86		ELMN
	ZUGER	SWON	SWTQ	METN	ZURN	CICN	ELMN

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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

CICN	+ 0.88	ZURN
ELMN	+ 0.86	CICN
ELMN	+ 0.83	ZUGER
SWTQ	+ 0.71	ZUGER
ELMN	+ 0.71	ZURN
ELMN	+ 0.7	SWTQ

High negative correlations

METN	- 0.66	SWTQ
METN	- 0.62	ZUGER
ELMN	- 0.56	METN
ELMN	- 0.47	SWON
CICN	- 0.43	METN
CICN	- 0.39	SWON

Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco Physical Company 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 Physical'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
ZUGER	0.67	0.10	0.21	(0.95)	0.74	(0.88)	1.84	(1.35)	6.07
SWON	2.44	(0.25)	0.00	(0.57)	0.00	0.00	6.06	(5.71)	16.41
SWTQ	1.68	0.19	0.12	0.24	1.85	(1.82)	3.97	(2.96)	9.65
METN	1.08	(0.13)	0.00	1.15	0.00	0.00	2.83	(2.78)	7.84
ZURN	0.71	0.09	0.23	(1.59)	0.79	(0.74)	1.21	(1.53)	3.55
CICN	1.73	0.68	0.36	4.40	1.41	(2.21)	5.93	(2.39)	14.11
ELMN	0.63	0.08	0.13	(5.10)	0.66	(1.18)	1.96	(1.50)	3.96

Be your own money manager

Our tools can tell you how much better you can do entering a position in Invesco Physical without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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