Invesco BulletShares Correlations

BSCS Etf  USD 20.53  0.07  0.34%   
The current 90-days correlation between Invesco BulletShares 2028 and Invesco BulletShares 2025 is -0.17 (i.e., Good 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

Modest diversification

The correlation between Invesco BulletShares 2028 and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco BulletShares 2028 and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco BulletShares 2028. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with Invesco Etf

  0.96BSCP Invesco BulletShares 2025PairCorr
  0.73IBDQ iShares iBonds DecPairCorr
  0.98BSCQ Invesco BulletShares 2026PairCorr
  0.66IBDR iShares iBonds DecPairCorr
  0.63IBDS iShares iBonds DecPairCorr
  0.71USD ProShares Ultra SemiPairCorr
  0.68FNGO MicroSectors FANG IndexPairCorr
  0.72DFEN Direxion Daily AerospacePairCorr
  0.62DUSL Direxion Daily IndusPairCorr
  0.62VOT Vanguard Mid CapPairCorr
  0.65FTF Franklin TempletonPairCorr
  0.64SSO ProShares Ultra SP500PairCorr
  0.93ISRCF iShares V PublicPairCorr
  0.71IYW iShares Technology ETFPairCorr
  0.87JNJ Johnson JohnsonPairCorr
  0.64DD Dupont De NemoursPairCorr
  0.86JPM JPMorgan ChasePairCorr
  0.76HD Home DepotPairCorr
  0.73PFE Pfizer Inc Aggressive PushPairCorr
  0.88CAT CaterpillarPairCorr
  0.71BAC Bank of America Aggressive PushPairCorr
  0.85CVX Chevron CorpPairCorr
  0.91MSFT MicrosoftPairCorr

Moving against Invesco Etf

  0.45IBM International BusinessPairCorr

Related Correlations Analysis


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

JPMMSFT
FUBER
MRKF
JPMF
MRKA
FMSFT
  

High negative correlations

CRMMSFT
CRMMETA
CRMT
JPMCRM
CRMF
MRKCRM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.41  0.23  0.13  0.54  1.15 
 3.16 
 14.28 
MSFT  0.72  0.11  0.07  0.32  0.64 
 1.80 
 5.71 
UBER  1.40  0.02  0.00  0.12  1.69 
 2.72 
 11.37 
F  1.31  0.05  0.04  0.13  1.52 
 2.55 
 7.46 
T  0.76  0.05 (0.03) 0.50  0.98 
 1.63 
 5.41 
A  1.41 (0.04) 0.01  0.07  1.76 
 2.82 
 9.19 
CRM  1.25 (0.34) 0.00 (0.17) 0.00 
 2.32 
 6.27 
JPM  0.83  0.07  0.07  0.17  0.89 
 1.78 
 5.19 
MRK  1.14  0.11  0.06  0.22  1.37 
 2.90 
 7.79 
XOM  1.00  0.08  0.00  0.59  1.24 
 2.14 
 6.25