Invesco BulletShares Correlations

BSCS Etf  USD 20.50  0.09  0.44%   
The current 90-days correlation between Invesco BulletShares 2028 and Invesco BulletShares 2025 is -0.11 (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

Average diversification

The correlation between Invesco BulletShares 2028 and DJI is 0.16 (i.e., Average 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 main economic indicators.

Moving together with Invesco Etf

  0.95BSCP Invesco BulletShares 2025PairCorr
  0.94IBDQ iShares iBonds DecPairCorr
  0.97BSCQ Invesco BulletShares 2026PairCorr
  0.97IBDR iShares iBonds DecPairCorr
  0.99IBDS iShares iBonds DecPairCorr
  0.9SHLD Global X DefensePairCorr
  0.69LUX Tema ETF TrustPairCorr
  0.92SWP SWP Growth IncomePairCorr
  0.94DUKH Ocean Park HighPairCorr
  0.87WINN Harbor Long TermPairCorr
  0.89KEMQ KraneShares EmergingPairCorr
  0.95DFCF Dimensional ETF TrustPairCorr
  0.91HDV iShares Core HighPairCorr
  0.91JHDV John Hancock ExchangePairCorr
  0.75AA Alcoa CorpPairCorr
  0.63MMM 3M CompanyPairCorr
  0.63XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.9CAT Caterpillar Earnings Call This WeekPairCorr
  0.88CSCO Cisco SystemsPairCorr
  0.75AXP American ExpressPairCorr
  0.85CVX Chevron Corp Earnings Call TodayPairCorr
  0.86MSFT Microsoft Aggressive PushPairCorr
  0.74DIS Walt Disney Earnings Call This WeekPairCorr
  0.75BA BoeingPairCorr

Moving against Invesco Etf

  0.83FNGD MicroSectors FANG IndexPairCorr
  0.4SMI Van EckPairCorr
  0.51TRV The Travelers CompaniesPairCorr
  0.48PG Procter GamblePairCorr
  0.45HPQ HP IncPairCorr
  0.44KO Coca ColaPairCorr

Related Correlations Analysis

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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
MSFTMETA
AMETA
JPMMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM
CRMMSFT
CRMMETA
JPMCRM
CRMA

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  1.30  0.18  0.18  0.29  0.87 
 3.62 
 10.48 
MSFT  0.71  0.32  0.44  0.66  0.00 
 2.32 
 8.85 
UBER  1.50  0.03  0.03  0.18  1.57 
 4.11 
 11.37 
F  1.31  0.01  0.00  0.16  1.49 
 2.63 
 7.46 
T  0.91  0.03 (0.08) 0.45  1.12 
 2.03 
 5.71 
A  1.44 (0.11) 0.01  0.09  1.77 
 2.82 
 14.01 
CRM  1.10 (0.20) 0.00 (0.01) 0.00 
 2.13 
 8.50 
JPM  0.79  0.18  0.17  0.34  0.57 
 1.86 
 5.90 
MRK  1.37 (0.20)(0.07) 0.00  1.96 
 2.90 
 10.58 
XOM  1.06  0.04 (0.06) 0.46  1.39 
 2.14 
 6.26