Invesco Exchange Correlations

BSCW Etf

USD 20.53 0.03 0.15%

The current 90-days correlation between Invesco Exchange Traded and Invesco BulletShares 2031 is 0.86 (i.e., Very poor 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 0.39 (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.

Build AI portfolio with Invesco Etf

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

0.92	BSCP	Invesco BulletShares 2025	Pair Corr
0.92	IBDQ	iShares iBonds Dec	Pair Corr
0.95	BSCQ	Invesco BulletShares 2026	Pair Corr
0.96	IBDR	iShares iBonds Dec	Pair Corr
0.98	IBDS	iShares iBonds Dec	Pair Corr
0.89	DFEN	Direxion Daily Aerospace	Pair Corr
0.63	MSTY	YieldMax MSTR Option	Pair Corr
0.68	GRW	TCW Compounders ETF	Pair Corr
0.71	MMM	3M Company Sell-off Trend	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.85	PFE	Pfizer Inc	Pair Corr
0.74	INTC	Intel Earnings Call Today	Pair Corr
0.84	CVX	Chevron Corp	Pair Corr
0.91	JPM	JPMorgan Chase	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.86	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.86	IBM	International Business	Pair Corr

Moving against Invesco Etf

0.78	WTID	UBS ETRACS	Pair Corr
0.75	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.52	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.49	KO	Coca Cola	Pair Corr
0.33	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.82	0.79	0.56	0.92	0.17	0.93	0.21	0.51	META
MSFT	0.97		0.84	0.83	0.51	0.86	0.17	0.95	0.23	0.5	MSFT
UBER	0.82	0.84		0.88	0.41	0.78	0.46	0.85	0.18	0.44	UBER
F	0.79	0.83	0.88		0.42	0.8	0.16	0.89	0.43	0.68	F
T	0.56	0.51	0.41	0.42		0.63	0.11	0.46	0.35	0.27	T
A	0.92	0.86	0.78	0.8	0.63		0.15	0.86	0.36	0.63	A
CRM	0.17	0.17	0.46	0.16	0.11	0.15		0.09	-0.33	-0.21	CRM
JPM	0.93	0.95	0.85	0.89	0.46	0.86	0.09		0.32	0.59	JPM
MRK	0.21	0.23	0.18	0.43	0.35	0.36	-0.33	0.32		0.54	MRK
XOM	0.51	0.5	0.44	0.68	0.27	0.63	-0.21	0.59	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.33	CRM
XOM	- 0.21	CRM

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.47	0.27	0.25	0.41	0.82	(1.79)	3.99	(2.00)	10.48
MSFT	0.84	0.33	0.36	0.63	0.00	(1.04)	2.33	(1.03)	8.85
UBER	1.60	0.05	0.05	0.25	1.44	(1.99)	4.19	(2.54)	10.87
F	1.29	0.10	0.04	0.33	1.40	(1.40)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.12)	0.14	1.30	(1.05)	2.35	(2.35)	5.71
A	1.53	(0.10)	0.02	0.14	1.77	(1.61)	2.82	(2.89)	14.01
CRM	1.30	(0.17)	(0.04)	0.09	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.88	0.19	0.16	0.40	0.54	(1.01)	2.25	(1.31)	6.03
MRK	1.40	(0.08)	(0.04)	0.13	1.82	(1.38)	2.90	(3.31)	10.58
XOM	1.10	(0.01)	(0.10)	0.16	1.39	(1.07)	2.18	(2.58)	6.28

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