Invesco KBW Correlations

KBWD Etf

USD 13.97 0.20 1.41%

The current 90-days correlation between Invesco KBW High and Direxion Daily Regional is 0.78 (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.

Invesco KBW Correlation With Market

Poor diversification

The correlation between Invesco KBW High and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco KBW High 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 High. 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

0.69	XLF	Financial Select Sector	Pair Corr
0.72	VFH	Vanguard Financials Index	Pair Corr
0.96	KRE	SPDR SP Regional	Pair Corr
0.96	KBE	SPDR SP Bank	Pair Corr
0.72	IYF	iShares Financials ETF	Pair Corr
0.72	FNCL	Fidelity MSCI Financials	Pair Corr
0.73	IYG	iShares Financial	Pair Corr
0.81	EUFN	iShares MSCI Europe	Pair Corr
0.74	FXO	First Trust Financials	Pair Corr
0.96	IAT	iShares Regional Banks	Pair Corr
0.66	SITC	Site Centers Corp Earnings Call This Week	Pair Corr
0.74	DFEV	Dimensional ETF Trust	Pair Corr
0.76	PALL	abrdn Physical Palladium	Pair Corr
0.73	DFAS	Dimensional Small Cap	Pair Corr
0.66	VYMI	Vanguard International	Pair Corr
0.67	MYMF	SPDR SSGA My2026	Pair Corr
0.84	SAUG	First Trust Exchange	Pair Corr
0.79	FXED	Tidal ETF Trust	Pair Corr
0.78	SUPP	TCW Transform Supply	Pair Corr

Related Correlations Analysis

	DPST	EUFN	FBDC	FNCL	FAS	FAZ	FXO	GPZ	FTXO
DPST		0.78	-0.37	0.65	0.91	-0.88	0.68	0.08	0.96	DPST
EUFN	0.78		-0.31	0.68	0.89	-0.91	0.68	-0.27	0.88	EUFN
FBDC	-0.37	-0.31		-0.38	-0.42	0.37	-0.35	-0.09	-0.39	FBDC
FNCL	0.65	0.68	-0.38		0.74	-0.75	0.99	-0.2	0.71	FNCL
FAS	0.91	0.89	-0.42	0.74		-0.99	0.74	-0.11	0.95	FAS
FAZ	-0.88	-0.91	0.37	-0.75	-0.99		-0.74	0.15	-0.94	FAZ
FXO	0.68	0.68	-0.35	0.99	0.74	-0.74		-0.15	0.73	FXO
GPZ	0.08	-0.27	-0.09	-0.2	-0.11	0.15	-0.15		-0.12	GPZ
FTXO	0.96	0.88	-0.39	0.71	0.95	-0.94	0.73	-0.12		FTXO
	DPST	EUFN	FBDC	FNCL	FAS	FAZ	FXO	GPZ	FTXO

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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

FXO	+ 0.99	FNCL
FTXO	+ 0.96	DPST
FTXO	+ 0.95	FAS
FAS	+ 0.91	DPST
FAS	+ 0.89	EUFN
FTXO	+ 0.88	EUFN

High negative correlations

FAZ	- 0.99	FAS
FTXO	- 0.94	FAZ
FAZ	- 0.91	EUFN
FAZ	- 0.88	DPST
FAZ	- 0.75	FNCL
FXO	- 0.74	FAZ

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
DPST	3.40	0.40	0.18	0.27	3.52	(4.15)	7.30	(5.05)	24.10
EUFN	0.67	0.14	0.04	0.59	0.70	(0.70)	1.53	(1.40)	4.01
FBDC	0.65	0.27	0.00	(10.09)	0.00	0.00	1.44	(1.13)	2.37
FNCL	0.69	0.00	0.07	0.00	0.60	(0.71)	1.51	(1.08)	4.69
FAS	1.95	0.48	0.13	(9.14)	2.06	(2.09)	4.37	(3.15)	12.40
FAZ	1.99	(0.47)	0.00	(59.08)	0.00	0.00	3.48	(4.58)	11.98
FXO	0.79	0.24	0.10	(8.61)	0.70	(0.90)	1.74	(1.15)	5.32
GPZ	1.20	0.41	0.15	(2.30)	1.00	(1.29)	3.67	(1.87)	5.60
FTXO	1.01	0.34	0.18	10.18	0.78	(1.28)	2.50	(1.34)	7.66

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