Invesco DB Correlations

Etfs . USA . 
Etf . Invesco DB Dollar
UUP Etf  USD 28.99  0.11  0.38%   
The current 90-days correlation between Invesco DB Dollar and Invesco DB Dollar is -0.97 (i.e., Pay attention - limited upside). The correlation of Invesco DB 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 DB Correlation With Market

Very good diversification

The correlation between Invesco DB Dollar and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DB Dollar and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco DB Dollar. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Invesco Etf

  0.96EUO ProShares UltraShort EuroPairCorr
  0.81YCS ProShares UltraShort YenPairCorr

Moving against Invesco Etf

  0.89UDN Invesco DB DollarPairCorr
  0.76BND Vanguard Total BondPairCorr
  0.63VO Vanguard Mid CapPairCorr
  0.5VTV Vanguard Value IndexPairCorr
  0.46SPY SPDR SP 500PairCorr
  0.46IVV iShares Core SPPairCorr
  0.43VTI Vanguard Total StockPairCorr
  0.37VEA Vanguard FTSE DevelopedPairCorr
  0.85DD Dupont De NemoursPairCorr
  0.8PG Procter GamblePairCorr
  0.76DIS Walt DisneyPairCorr
  0.67AA Alcoa CorpPairCorr
  0.61XOM Exxon Mobil CorpPairCorr
  0.57HD Home DepotPairCorr
  0.48CVX Chevron CorpPairCorr
  0.48INTC Intel Downward RallyPairCorr
  0.4MCD McDonaldsPairCorr

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   
FXE
+ 0.95
UDN
FXY
+ 0.88
UDN
TLT
+ 0.84
FXY
TLT
+ 0.81
UDN
TLT
+ 0.75
FXE
FXY
+ 0.71
FXE
  
High negative correlations   
TBT
- 0.99
TLT
TBT
- 0.82
FXY
TBT
- 0.8
UDN
TBT
- 0.75
FXE

Invesco DB Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DB 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 DB'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.

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