Invesco KBW Correlations

KBWY Etf

USD 15.85 0.07 0.44%

The current 90-days correlation between Invesco KBW Premium and Invesco KBW High is 0.68 (i.e., Poor diversification). The correlation of Invesco KBW 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 KBW Correlation With Market

Good diversification

The correlation between Invesco KBW Premium and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco KBW Premium and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Invesco KBW Premium. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Invesco Etf

0.73	VNQ	Vanguard Real Estate	Pair Corr
0.75	XLRE	Real Estate	Pair Corr
0.87	IYR	iShares Real Estate	Pair Corr
0.61	USRT	iShares Core REIT	Pair Corr
0.89	IRET	iREIT MarketVector	Pair Corr
0.76	RWR	SPDR Dow Jones	Pair Corr
0.8	ISCB	iShares Morningstar	Pair Corr
0.76	RAYS	Global X Solar	Pair Corr
0.68	BPI	Grayscale Funds Trust	Pair Corr
0.65	INCM	Franklin Templeton ETF	Pair Corr
0.62	CETH	21shares Core Ethereum Low Volatility	Pair Corr
0.84	PRXG	Praxis Funds	Pair Corr
0.66	IBM	International Business Earnings Call This Week	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.63	AXP	American Express	Pair Corr
0.75	CVX	Chevron Corp	Pair Corr
0.61	INTC	Intel Earnings Call This Week	Pair Corr

Moving against Invesco Etf

0.84	CORX	2x Corn ETF	Pair Corr
0.41	KO	Coca Cola Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	KBWD	SRET	MORT	SDIV	DIV
KBWD		0.91	0.97	0.92	0.67	KBWD
SRET	0.91		0.9	0.95	0.67	SRET
MORT	0.97	0.9		0.87	0.72	MORT
SDIV	0.92	0.95	0.87		0.6	SDIV
DIV	0.67	0.67	0.72	0.6		DIV
	KBWD	SRET	MORT	SDIV	DIV

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Invesco KBW Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco KBW 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 KBW'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
KBWD	0.78	0.22	0.08	(3.14)	0.73	(0.96)	1.48	(1.05)	6.71
SRET	0.53	0.10	(0.03)	6.94	0.55	(0.57)	1.00	(0.98)	3.14
MORT	0.79	0.13	0.01	2.52	1.06	(0.87)	1.43	(1.31)	6.61
SDIV	0.50	0.30	0.28	6.35	0.00	(0.65)	1.31	(0.72)	3.14
DIV	0.52	0.02	(0.13)	1.10	0.69	(0.56)	1.02	(1.07)	3.77

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