Invesco Physical Correlations

SGLP Stock

22,041 388.50 1.73%

The current 90-days correlation between Invesco Physical Gold and Premier Foods PLC is 0.06 (i.e., Significant 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

Good diversification

The correlation between Invesco Physical Gold and DJI is -0.08 (i.e., Good 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

0.95	SGLD	Invesco Physical Gold	Pair Corr
1.0	GBSS	Gold Bullion Securities	Pair Corr
0.86	SSLN	iShares Physical Silver	Pair Corr
0.7	ISLN	iShares Physical Silver	Pair Corr
0.7	SSLV	Invesco Physical Silver	Pair Corr
0.92	XGLS	DB Physical Gold	Pair Corr
0.65	0N6K	Claranova SE	Pair Corr
0.79	0RHN	AcadeMedia AB	Pair Corr
0.61	TSCO	Tesco PLC	Pair Corr
0.86	0UMG	Universal Music Group Earnings Call Today	Pair Corr
0.72	CCH	Coca Cola HBC	Pair Corr
0.89	0Q57	Sparebank 1 SR	Pair Corr
0.81	0GA3	Telecom Italia SpA	Pair Corr
0.66	0QT5	Gaztransport et Technigaz	Pair Corr
0.93	LIV	Livermore Investments	Pair Corr
0.81	IAG	International Consolidated Earnings Call Today	Pair Corr
0.79	ICG	Intermediate Capital	Pair Corr
0.9	BARC	Barclays PLC	Pair Corr
0.92	BANK	Fiinu PLC	Pair Corr
0.91	0JPO	KLA Corp	Pair Corr
0.65	CTEC	ConvaTec Group PLC Earnings Call This Week	Pair Corr
0.95	HIK	Hikma Pharmaceuticals PLC	Pair Corr
0.92	0QPU	Valiant Holding AG	Pair Corr
0.75	0E1Y	Chargeurs	Pair Corr
0.77	SFT	Software Circle plc	Pair Corr
0.65	API	abrdn Property Income	Pair Corr
0.79	0OP0	DMG Mori AG	Pair Corr

Related Correlations Analysis

	PFD	0HCR	RDT	SUPR	0A1O	SIS
PFD		0.11	0.32	0.37	0.61	0.16	PFD
0HCR	0.11		0.03	-0.46	0.1	-0.37	0HCR
RDT	0.32	0.03		-0.02	0.44	-0.19	RDT
SUPR	0.37	-0.46	-0.02		0.32	0.72	SUPR
0A1O	0.61	0.1	0.44	0.32		0.16	0A1O
SIS	0.16	-0.37	-0.19	0.72	0.16		SIS
	PFD	0HCR	RDT	SUPR	0A1O	SIS

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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

SIS	+ 0.72	SUPR
0A1O	+ 0.61	PFD
0A1O	+ 0.44	RDT
SUPR	+ 0.37	PFD
RDT	+ 0.32	PFD
0A1O	+ 0.32	SUPR

High negative correlations

SUPR	- 0.46	0HCR
SIS	- 0.37	0HCR
SIS	- 0.19	RDT
SUPR	- 0.02	RDT

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
PFD	0.86	(0.01)	0.00	(0.04)	0.00	0.00	2.02	(1.48)	5.13
0HCR	1.96	(0.07)	0.00	(0.17)	0.00	0.00	3.99	(3.80)	9.82
RDT	1.02	(0.16)	0.00	0.89	0.00	0.00	2.13	(3.92)	13.02
SUPR	0.96	0.10	0.08	0.55	1.05	(1.13)	2.11	(1.86)	6.69
0A1O	1.25	0.04	0.02	0.10	1.84	(1.64)	3.63	(2.93)	12.96
SIS	0.87	0.16	0.06	(1.12)	0.89	(2.56)	2.27	(1.89)	7.89

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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