Invesco Optimum Correlations

PDBC Etf

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The current 90-days correlation between Invesco Optimum Yield and iShares GSCI Commodity is 0.96 (i.e., Almost no diversification). The correlation of Invesco Optimum 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 Optimum Correlation With Market

Significant diversification

The correlation between Invesco Optimum Yield and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Optimum Yield 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 Optimum Yield. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Invesco Etf

0.67	FTGC	First Trust Global	Pair Corr
0.86	DBC	Invesco DB Commodity	Pair Corr
0.87	COMT	iShares GSCI Commodity	Pair Corr
0.77	GSG	iShares SP GSCI	Pair Corr
0.88	DJP	iPath Bloomberg Commodity	Pair Corr
0.76	BCI	abrdn Bloomberg All	Pair Corr
0.76	CMDY	iShares Bloomberg Roll	Pair Corr
0.88	COMB	GraniteShares Bloomberg	Pair Corr
0.69	XOP	SPDR SP Oil	Pair Corr

Moving against Invesco Etf

0.34	HUM	Humana Inc	Pair Corr
0.42	FAZ	Direxion Daily Financial	Pair Corr

Related Correlations Analysis

	COMT	FTGC	GSG	DBC	BCI
COMT		0.78	0.87	0.77	0.65	COMT
FTGC	0.78		0.89	0.81	0.87	FTGC
GSG	0.87	0.89		0.92	0.78	GSG
DBC	0.77	0.81	0.92		0.87	DBC
BCI	0.65	0.87	0.78	0.87		BCI
	COMT	FTGC	GSG	DBC	BCI

Invesco Optimum Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Optimum 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 Optimum'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
COMT	0.54	0.05	(0.04)	2.03	0.63	(0.54)	1.28	(1.00)	2.73
FTGC	0.48	0.08	0.00	(0.78)	0.49	(0.52)	1.22	(0.79)	3.39
GSG	0.58	0.07	(0.04)	(0.19)	0.63	(0.63)	1.29	(1.08)	2.94
DBC	0.56	0.06	(0.05)	(0.20)	0.58	(0.61)	1.29	(0.89)	3.25
BCI	0.45	0.05	(0.06)	(0.40)	0.54	(0.49)	0.90	(0.81)	3.90

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