Invesco Next Correlations

Etfs . USA . 
Etf . Invesco Next Gen
GGME Etf   59.82  0.26  0.43%   
The current 90-days correlation between Invesco Next Gen and First Trust International is 0.72 (i.e., Poor diversification). The correlation of Invesco Next 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.

Invesco Next Correlation With Market

Poor diversification

The correlation between Invesco Next Gen and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Next Gen and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Invesco Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Next Gen. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Invesco Etf

  0.91CIBR First Trust NASDAQPairCorr
  0.93IGV iShares Expanded TechPairCorr
  0.94FDN First Trust DowPairCorr

Moving against Invesco Etf

  0.68ZJAN Innovator Equity DefinedPairCorr
  0.66SLX VanEck Steel ETFPairCorr
  0.59AMPD Tidal ETF ServicesPairCorr
  0.59GBUG Sprott Active GoldPairCorr
  0.52SIXS 6 Meridian SmallPairCorr
  0.47CSD Invesco SP SpinPairCorr
  0.44CPST Calamos ETF TrustPairCorr
  0.44SMLV SPDR SSGA SmallPairCorr
  0.38XSVN Bondbloxx ETF TrustPairCorr
  0.31TJUL Innovator Etfs TrustPairCorr
  0.9PHT PHTPairCorr
  0.85CLOX Series Portfolios TrustPairCorr
  0.82FROG JfrogPairCorr
  0.72FSST Fidelity SustainabilityPairCorr
  0.66MYCI SPDR SSGA My2029PairCorr
  0.65PBJA PGIM Rock ETFPairCorr
  0.61ZSB USCF Sustainable BatteryPairCorr
  0.61SGOL abrdn Physical GoldPairCorr
  0.61CPSU Calamos SP 500PairCorr

Related Correlations Analysis


Invesco Next Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Next 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 Next'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
FPXI  1.00 (0.05)(0.03) 0.03  1.41 
(0.94)
 1.84 
(1.91)
 6.71 
IBUY  1.05 (0.13) 0.00 (0.01) 0.00 
 0.00 
 2.21 
(2.48)
 5.69 
AVUQ  0.74  0.05 (0.02) 5.36  1.15 
(0.64)
 1.57 
(1.78)
 4.17 
FBOT  0.94 (0.05)(0.02) 0.04  1.42 
(0.90)
 1.77 
(2.37)
 5.24 
MSTB  0.52 (0.02)(0.04) 0.05  0.91 
(0.44)
 0.95 
(1.29)
 3.41 
QBUF  0.29  0.01 (0.06) 0.11  0.39 
(0.28)
 0.72 
(0.72)
 1.94 
GRIN  0.79 (0.02)(0.02) 0.05  1.05 
(0.76)
 1.36 
(1.56)
 4.22 
AUGW  0.21  0.00 (0.17) 0.08  0.19 
(0.23)
 0.47 
(0.53)
 1.22 
XTL  1.54  0.03  0.04  0.09  2.09 
(1.48)
 2.91 
(3.37)
 8.95 
UMMA  0.79  0.04  0.04  0.12  1.01 
(0.83)
 1.62 
(1.83)
 4.78 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY