Invesco Aerospace Correlations

PPA Etf

USD 146.54 0.27 0.18%

The current 90-days correlation between Invesco Aerospace Defense and Invesco Dynamic Building is 0.63 (i.e., Poor diversification). The correlation of Invesco Aerospace 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 Aerospace Correlation With Market

Very weak diversification

The correlation between Invesco Aerospace Defense and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Aerospace Defense and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Aerospace Defense. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Invesco Etf

0.98	XLI	Industrial Select Sector	Pair Corr
1.0	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.98	VIS	Vanguard Industrials	Pair Corr
0.94	JETS	US Global Jets	Pair Corr
0.96	FXR	First Trust Industri	Pair Corr
0.85	EGLE	Global X Funds	Pair Corr
0.97	IYJ	iShares Industrials ETF	Pair Corr
0.93	IYT	iShares Transportation Potential Growth	Pair Corr
0.89	BTCL	T Rex 2X	Pair Corr
0.89	BITU	ProShares Trust	Pair Corr
0.89	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.88	BITX	Volatility Shares Trust	Pair Corr
0.79	MSTY	YieldMax MSTR Option Downward Rally	Pair Corr
0.99	DFEN	Direxion Daily Aerospace	Pair Corr
0.98	CAT	Caterpillar	Pair Corr
0.89	MMM	3M Company	Pair Corr
0.95	AXP	American Express	Pair Corr
0.86	PFE	Pfizer Inc	Pair Corr
0.96	BAC	Bank of America	Pair Corr
0.98	MSFT	Microsoft	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.83	CVX	Chevron Corp	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.95	DIS	Walt Disney	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr
0.73	INTC	Intel Earnings Call This Week	Pair Corr
0.94	BA	Boeing	Pair Corr

Moving against Invesco Etf

0.9	WTID	UBS ETRACS	Pair Corr
0.51	PG	Procter Gamble	Pair Corr
0.4	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	XAR	ITA	PKB	PSI	IGPT
XAR		0.99	0.93	0.97	0.97	XAR
ITA	0.99		0.94	0.96	0.98	ITA
PKB	0.93	0.94		0.95	0.97	PKB
PSI	0.97	0.96	0.95		0.99	PSI
IGPT	0.97	0.98	0.97	0.99		IGPT
	XAR	ITA	PKB	PSI	IGPT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Invesco Aerospace Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Aerospace 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 Aerospace'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
XAR	0.93	0.37	0.35	0.67	0.46	(1.22)	2.52	(1.84)	5.90
ITA	0.73	0.33	0.28	0.79	0.43	(0.89)	2.03	(1.51)	4.72
PKB	0.99	0.15	0.15	0.26	0.87	(1.17)	2.66	(1.70)	5.01
PSI	1.48	0.35	0.27	0.37	1.04	(1.78)	4.22	(2.33)	10.58
IGPT	0.98	0.26	0.24	0.39	0.67	(1.15)	2.85	(1.53)	6.26

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