Invesco Dynamic Correlations
PKB Etf | USD 84.84 2.21 2.54% |
The current 90-days correlation between Invesco Dynamic Building and Invesco DWA Utilities is -0.08 (i.e., Good diversification). The correlation of Invesco Dynamic 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 Dynamic Correlation With Market
Good diversification
The correlation between Invesco Dynamic Building and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Dynamic Building and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Invesco Etf
0.98 | XLI | Industrial Select Sector | PairCorr |
0.94 | ITA | iShares Aerospace Defense | PairCorr |
0.99 | VIS | Vanguard Industrials | PairCorr |
0.94 | JETS | US Global Jets | PairCorr |
0.95 | FXR | First Trust Industri | PairCorr |
0.95 | PPA | Invesco Aerospace Defense | PairCorr |
0.96 | EGLE | Global X Funds | PairCorr |
0.99 | IYJ | iShares Industrials ETF Low Volatility | PairCorr |
0.97 | IYT | iShares Transportation | PairCorr |
0.72 | PFFL | ETRACS 2xMonthly Pay | PairCorr |
0.95 | ITDD | iShares Trust | PairCorr |
0.84 | KWEB | KraneShares CSI China | PairCorr |
0.92 | KEMQ | KraneShares Emerging | PairCorr |
0.94 | BA | Boeing Earnings Call This Week | PairCorr |
0.84 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
0.75 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
0.95 | MSFT | Microsoft Earnings Call This Week | PairCorr |
0.93 | BAC | Bank of America | PairCorr |
0.87 | MMM | 3M Company | PairCorr |
0.65 | INTC | Intel | PairCorr |
0.92 | GE | GE Aerospace | PairCorr |
0.88 | AA | Alcoa Corp | PairCorr |
0.93 | CSCO | Cisco Systems | PairCorr |
Moving against Invesco Etf
0.68 | MPAY | Exchange Traded Concepts | PairCorr |
0.61 | MCD | McDonalds | PairCorr |
0.61 | KO | Coca Cola | PairCorr |
0.36 | PG | Procter Gamble Earnings Call This Week | PairCorr |
Related Correlations Analysis
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Invesco Dynamic Constituents Risk-Adjusted Indicators
There is a big difference between Invesco Etf performing well and Invesco Dynamic 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 Dynamic'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
GGME | 0.75 | 0.44 | 0.29 | (5.03) | 0.00 | 2.48 | 4.61 | |||
KNCT | 0.66 | 0.18 | 0.15 | 0.44 | 0.30 | 2.17 | 4.95 | |||
PUI | 0.63 | 0.05 | (0.09) | 0.34 | 0.67 | 1.09 | 4.03 | |||
IGPT | 0.89 | 0.25 | 0.27 | 0.45 | 0.27 | 2.85 | 6.26 | |||
PBJ | 0.66 | 0.08 | (0.15) | 1.48 | 0.61 | 1.33 | 4.07 |