Invesco DB Correlations

DBO Etf

USD 13.70 0.03 0.22%

The current 90-days correlation between Invesco DB Oil and Invesco DB Base is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco DB moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco DB Oil moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco DB Correlation With Market

Good diversification

The correlation between Invesco DB Oil and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DB Oil and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco DB Oil. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Invesco Etf

0.79	SLV	iShares Silver Trust Sell-off Trend	Pair Corr
0.99	USO	United States Oil Sell-off Trend	Pair Corr
0.76	GLTR	abrdn Physical Precious	Pair Corr
0.79	SIVR	abrdn Physical Silver	Pair Corr
0.67	DFEN	Direxion Daily Aerospace	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr
0.69	DIS	Walt Disney	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.81	CVX	Chevron Corp	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.73	IBM	International Business	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.82	XOM	Exxon Mobil Corp	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.63	MSFT	Microsoft Earnings Call This Week	Pair Corr

Moving against Invesco Etf

0.83	WTID	UBS ETRACS	Pair Corr
0.78	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.44	DBA	Invesco DB Agriculture	Pair Corr
0.52	KO	Coca Cola	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	DBE	USL	DBB	DBP	BNO
DBE		0.98	0.7	0.69	0.99	DBE
USL	0.98		0.62	0.69	1.0	USL
DBB	0.7	0.62		0.55	0.65	DBB
DBP	0.69	0.69	0.55		0.69	DBP
BNO	0.99	1.0	0.65	0.69		BNO
	DBE	USL	DBB	DBP	BNO

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DBE	1.16	0.20	(0.05)	(0.31)	1.42	(1.37)	2.89	(1.58)	10.83
USL	1.23	0.16	(0.07)	(0.22)	1.62	(1.25)	3.07	(1.95)	8.73
DBB	0.74	0.16	(0.05)	(3.64)	0.88	(0.80)	1.58	(1.32)	4.95
DBP	1.02	0.22	(0.11)	(0.11)	1.10	(1.04)	2.52	(1.73)	5.07
BNO	1.49	0.24	(0.04)	(0.20)	1.94	(1.62)	3.64	(2.34)	14.23

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