Invesco Aerospace Correlations

PPA Etf

USD 178.71 1.34 0.76%

The current 90-days correlation between Invesco Aerospace Defense and iShares Global Tech is 0.56 (i.e., Very weak diversification). The correlation of Invesco Aerospace 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 Aerospace Correlation With Market

Very poor diversification

The correlation between Invesco Aerospace Defense and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Aerospace Defense 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 Aerospace Defense. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Invesco Etf

0.92	XLI	Industrial Select Sector Sell-off Trend	Pair Corr
0.77	DRVN	Driven Brands Holdings Earnings Call Tomorrow	Pair Corr
0.99	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.93	VIS	Vanguard Industrials	Pair Corr
0.75	JETS	US Global Jets	Pair Corr
0.93	FXR	First Trust Industri	Pair Corr
0.92	IYJ	iShares Industrials ETF	Pair Corr
0.8	IYT	iShares Transportation	Pair Corr
0.93	FIDU	Fidelity MSCI Industrials	Pair Corr
0.76	TOT	Advisor Managed Port	Pair Corr
0.97	SHLD	Global X Defense	Pair Corr
0.78	LUX	Tema Global	Pair Corr
0.85	FB	ProShares Trust ProShares	Pair Corr
0.88	SWP	SWP Growth Income	Pair Corr
0.72	FNGD	MicroSectors FANG Index	Pair Corr
0.91	CALY	Callaway Golf Symbol Change	Pair Corr
0.83	DFSD	Dimensional ETF Trust	Pair Corr
0.67	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.94	CHPS	Xtrackers Semiconductor	Pair Corr
0.92	ESML	iShares ESG Aware	Pair Corr
0.9	IRTR	iShares Trust	Pair Corr
0.86	XYLD	Global X SP	Pair Corr
0.89	EMES	Harbor ETF Trust	Pair Corr
0.91	EWT	iShares MSCI Taiwan	Pair Corr
0.78	QLV	FlexShares Quality Low	Pair Corr
0.89	FPXE	First Trust IPOX	Pair Corr
0.87	SCDV	ETF Series Solutions	Pair Corr
0.95	NBCE	Neuberger Berman ETF	Pair Corr
0.9	FNDC	Schwab Fundamental	Pair Corr
0.93	BSMS	Invesco BulletShares 2028	Pair Corr
0.92	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.7	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.69	DBA	Invesco DB Agriculture	Pair Corr

Moving against Invesco Etf

0.39

IND

Xtrackers Nifty 500

Pair Corr

Related Correlations Analysis

	IXN	RWL	VINAX	URTH	ACWX	AIQ	FDVV	FXI	THRO	VCDAX
IXN		0.64	0.61	0.85	0.69	0.77	0.62	0.62	0.75	0.62	IXN
RWL	0.64		0.97	0.93	0.95	0.42	0.94	0.2	0.51	0.56	RWL
VINAX	0.61	0.97		0.88	0.98	0.35	0.94	0.22	0.41	0.41	VINAX
URTH	0.85	0.93	0.88		0.91	0.63	0.88	0.37	0.71	0.71	URTH
ACWX	0.69	0.95	0.98	0.91		0.43	0.93	0.3	0.47	0.42	ACWX
AIQ	0.77	0.42	0.35	0.63	0.43		0.29	0.56	0.92	0.72	AIQ
FDVV	0.62	0.94	0.94	0.88	0.93	0.29		0.14	0.44	0.36	FDVV
FXI	0.62	0.2	0.22	0.37	0.3	0.56	0.14		0.43	0.28	FXI
THRO	0.75	0.51	0.41	0.71	0.47	0.92	0.44	0.43		0.76	THRO
VCDAX	0.62	0.56	0.41	0.71	0.42	0.72	0.36	0.28	0.76		VCDAX
	IXN	RWL	VINAX	URTH	ACWX	AIQ	FDVV	FXI	THRO	VCDAX

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Invesco Aerospace Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Aerospace 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 Aerospace'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
IXN	1.03	(0.05)	(0.03)	(0.01)	1.65	(0.85)	1.78	(2.55)	6.53
RWL	0.52	0.06	0.07	0.12	0.48	(0.57)	1.24	(0.95)	2.96
VINAX	0.82	0.15	0.15	0.18	0.79	(0.93)	1.75	(1.76)	4.62
URTH	0.55	0.00	(0.01)	0.04	0.77	(0.51)	1.09	(1.46)	3.49
ACWX	0.60	0.11	0.13	0.20	0.64	(0.65)	1.25	(1.22)	3.37
AIQ	1.04	(0.08)	0.00	(1.34)	0.00	0.00	1.87	(2.66)	6.43
FDVV	0.42	0.05	0.04	0.12	0.60	(0.40)	0.91	(1.07)	3.35
FXI	0.87	(0.10)	0.00	(0.10)	0.00	0.00	1.64	(1.66)	6.86
THRO	0.63	(0.04)	0.00	(4.18)	0.00	0.00	0.98	(1.60)	4.03
VCDAX	0.80	(0.09)	0.00	(0.05)	0.00	0.00	1.82	(1.69)	4.96

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