Invesco BulletShares Correlations

BSJR Etf

USD 22.71 0.03 0.13%

The current 90-days correlation between Invesco BulletShares 2027 and Invesco BulletShares 2026 is 0.9 (i.e., Almost no diversification). The correlation of Invesco BulletShares 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 BulletShares Correlation With Market

Very good diversification

The correlation between Invesco BulletShares 2027 and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2027 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 BulletShares 2027. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Invesco Etf

0.82	BSCP	Invesco BulletShares 2025	Pair Corr
0.85	IBDQ	iShares iBonds Dec	Pair Corr
0.89	BSCQ	Invesco BulletShares 2026	Pair Corr
0.89	IBDR	iShares iBonds Dec	Pair Corr
0.79	IBDS	iShares iBonds Dec	Pair Corr
0.78	ARKW	ARK Next Generation	Pair Corr
0.85	WTMF	WisdomTree Managed	Pair Corr
0.85	EWC	iShares MSCI Canada	Pair Corr
0.83	BST	BlackRock Science Tech	Pair Corr
0.93	DVQQ	WEBs Defined Volatility	Pair Corr
0.9	CBTJ	Calamos Bitcoin 80	Pair Corr
0.83	FMIL	Fidelity New Millennium	Pair Corr
0.84	GYLD	Arrow ETF Trust	Pair Corr
0.87	GSIG	Goldman Sachs Access	Pair Corr
0.87	EURL	Direxion Daily FTSE	Pair Corr
0.99	XHYT	BondBloxx ETF Trust	Pair Corr
0.77	IHY	VanEck International High	Pair Corr
0.78	ODCEX	ODCEX	Pair Corr
0.97	AGEM	abrdn Emerging Markets	Pair Corr
0.91	BRRR	Valkyrie Bitcoin	Pair Corr
0.88	COPJ	Sprott Junior Copper	Pair Corr
0.97	STXI	EA Series Trust	Pair Corr
0.84	HWAY	Themes Infrastructure ETF	Pair Corr
0.84	PWRD	Perfect World Symbol Change	Pair Corr
0.85	BPI	Grayscale Funds Trust	Pair Corr
0.83	DJUL	FT Cboe Vest	Pair Corr
0.86	FRNW	Fidelity Covington Trust	Pair Corr
0.83	SPHY	SPDR Portfolio High	Pair Corr
0.8	SOXX	iShares Semiconductor ETF	Pair Corr
0.96	QGRW	WisdomTree Trust	Pair Corr
0.94	NIKL	Sprott Nickel Miners Downward Rally	Pair Corr
0.96	NBGX	Neuberger Berman ETF	Pair Corr
0.97	VOLT	Tema Electrification ETF	Pair Corr
0.89	OBND	SSGA Active Trust	Pair Corr
0.97	CGIE	Capital Group Intern	Pair Corr

Moving against Invesco Etf

0.83

HUM

Humana Inc

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.91	0.74	0.78	0.53	0.67	0.53	0.86	-0.17	0.13	META
MSFT	0.91		0.89	0.82	0.54	0.37	0.43	0.92	-0.47	-0.17	MSFT
UBER	0.74	0.89		0.87	0.49	0.26	0.61	0.88	-0.51	-0.19	UBER
F	0.78	0.82	0.87		0.5	0.49	0.65	0.9	-0.24	0.11	F
T	0.53	0.54	0.49	0.5		0.28	0.2	0.57	-0.18	0.11	T
A	0.67	0.37	0.26	0.49	0.28		0.6	0.41	0.55	0.7	A
CRM	0.53	0.43	0.61	0.65	0.2	0.6		0.49	0.17	0.31	CRM
JPM	0.86	0.92	0.88	0.9	0.57	0.41	0.49		-0.41	-0.05	JPM
MRK	-0.17	-0.47	-0.51	-0.24	-0.18	0.55	0.17	-0.41		0.72	MRK
XOM	0.13	-0.17	-0.19	0.11	0.11	0.7	0.31	-0.05	0.72		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

JPM	+ 0.92	MSFT
MSFT	+ 0.91	META
JPM	+ 0.9	F
UBER	+ 0.89	MSFT
JPM	+ 0.88	UBER
F	+ 0.87	UBER

High negative correlations

MRK	- 0.51	UBER
MRK	- 0.47	MSFT
MRK	- 0.41	JPM
MRK	- 0.24	F
XOM	- 0.19	UBER
MRK	- 0.18	T

Invesco BulletShares Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco BulletShares 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 BulletShares' 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	2.11	0.25	0.08	(6.57)	2.52	(2.36)	4.23	(4.29)	21.50
MSFT	1.23	0.34	0.19	(5.80)	1.19	(1.34)	2.40	(2.36)	13.79
UBER	1.90	0.24	0.08	(1.40)	2.28	(2.09)	4.19	(3.48)	16.18
F	1.71	0.11	0.04	0.14	2.24	(1.75)	2.90	(3.84)	13.07
T	1.14	0.08	0.03	0.29	1.79	(1.14)	2.01	(2.62)	8.83
A	1.78	(0.06)	0.00	0.23	0.00	0.00	2.76	(4.15)	14.45
CRM	1.59	(0.10)	0.00	1.72	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.23	0.10	0.23	1.95	(1.38)	2.75	(2.12)	11.14
MRK	1.62	(0.23)	0.00	0.86	0.00	0.00	2.55	(4.72)	10.58
XOM	1.28	0.01	0.00	1.71	2.24	(1.20)	2.62	(2.77)	10.53

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