Invesco Exchange Correlations

BSCW Etf  USD 20.52  0.03  0.15%   
The current 90-days correlation between Invesco Exchange Traded and Invesco BulletShares 2031 is 0.96 (i.e., Almost no diversification). The correlation of Invesco Exchange 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 Exchange Correlation With Market

Weak diversification

The correlation between Invesco Exchange Traded Self I and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Exchange Traded Self I and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Exchange Traded Self Indexed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Invesco Etf

  0.91BSCP Invesco BulletShares 2025PairCorr
  0.92IBDQ iShares iBonds DecPairCorr
  0.95BSCQ Invesco BulletShares 2026PairCorr
  0.95IBDR iShares iBonds DecPairCorr
  0.98IBDS iShares iBonds DecPairCorr
  0.91PMBS PIMCO Mortgage BackedPairCorr
  0.9SIXD AIM ETF ProductsPairCorr
  0.87PFFL ETRACS 2xMonthly PayPairCorr
  0.9CEFD ETRACS Monthly PayPairCorr
  0.93EUSB iShares TrustPairCorr
  0.96VABS Virtus Newfleet ABSMBSPairCorr
  0.89BUFD FT Cboe VestPairCorr
  0.83CVX Chevron CorpPairCorr
  0.74MMM 3M CompanyPairCorr
  0.82GE GE Aerospace Earnings Call TodayPairCorr
  0.63XOM Exxon Mobil CorpPairCorr
  0.91JPM JPMorgan Chase Sell-off TrendPairCorr
  0.88BAC Bank of AmericaPairCorr
  0.77AA Alcoa CorpPairCorr
  0.9CSCO Cisco SystemsPairCorr
  0.89CAT CaterpillarPairCorr
  0.85AXP American ExpressPairCorr
  0.89PFE Pfizer IncPairCorr
  0.78DD Dupont De Nemours Earnings Call This WeekPairCorr

Moving against Invesco Etf

  0.83VXX iPath Series BPairCorr
  0.83VIXY ProShares VIX ShortPairCorr
  0.63YCL ProShares Ultra YenPairCorr
  0.52VZ Verizon Communications Aggressive PushPairCorr
  0.46KO Coca Cola Earnings Call TodayPairCorr

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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

Invesco Exchange Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Exchange 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 Exchange'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.50  0.30  0.24  0.36  1.02 
 3.99 
 10.48 
MSFT  0.89  0.31  0.27  0.48  0.52 
 2.33 
 8.85 
UBER  1.63  0.19  0.12  0.32  1.40 
 4.19 
 10.87 
F  1.29  0.20  0.10  0.41  1.39 
 2.69 
 7.46 
T  1.03 (0.05)(0.09) 0.02  1.34 
 2.35 
 5.71 
A  1.46  0.18  0.00 (0.42) 1.81 
 2.54 
 14.01 
CRM  1.33 (0.14)(0.05) 0.04  1.71 
 2.95 
 9.31 
JPM  0.90  0.35  0.18 (2.74) 0.67 
 2.25 
 6.03 
MRK  1.38 (0.09)(0.05) 0.04  1.96 
 2.88 
 10.58 
XOM  1.13  0.06 (0.03) 0.46  1.38 
 2.40 
 6.28