Invesco CurrencyShares Correlations

FXY Etf  USD 57.96  0.03  0.05%   
The current 90-days correlation between Invesco CurrencyShares and Invesco CurrencyShares Euro is 0.45 (i.e., Very weak diversification). The correlation of Invesco CurrencyShares 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 CurrencyShares Correlation With Market

Modest diversification

The correlation between Invesco CurrencyShares Japanes and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco CurrencyShares Japanes and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco CurrencyShares Japanese. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Invesco Etf

  0.84CYB CYBPairCorr
  0.86INTC Intel Financial Report 25th of July 2024 PairCorr
  0.77IBM International Business Financial Report 17th of July 2024 PairCorr
  0.7MCD McDonalds Financial Report 25th of July 2024 PairCorr
  0.64HD Home DepotPairCorr
  0.86DIS Walt Disney Sell-off TrendPairCorr
  0.74CSCO Cisco Systems Sell-off TrendPairCorr
  0.82TRV The Travelers Companies Financial Report 18th of July 2024 PairCorr
  0.62JNJ Johnson Johnson Financial Report 18th of July 2024 PairCorr
  0.72CAT Caterpillar Financial Report 6th of August 2024 PairCorr

Moving against Invesco Etf

  0.55SMH VanEck Semiconductor ETFPairCorr
  0.54USD ProShares Ultra SemiPairCorr
  0.49PSI Invesco Dynamic SemiPairCorr
  0.48SOXX iShares Semiconductor ETFPairCorr
  0.47FXA Invesco CurrencySharesPairCorr
  0.44QLD ProShares Ultra QQQ Potential GrowthPairCorr
  0.44FBGX UBS AG FIPairCorr
  0.4FXB Invesco CurrencySharesPairCorr
  0.39ROM ProShares Ultra TechPairCorr
  0.37TECL Direxion Daily TechnologyPairCorr
  0.33SPXL Direxion Daily SP500PairCorr
  0.33UPRO ProShares UltraPro SP500PairCorr
  0.75GE GE Aerospace Financial Report 23rd of July 2024 PairCorr
  0.67AA Alcoa Corp Financial Report 17th of July 2024 PairCorr
  0.67KO Coca Cola Aggressive PushPairCorr
  0.53DD Dupont De Nemours Financial Report 7th of August 2024 PairCorr
  0.51T ATT Inc Aggressive PushPairCorr
  0.41MRK Merck Company Financial Report 6th of August 2024 PairCorr
  0.33PFE Pfizer Inc Aggressive PushPairCorr

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   
CRMA
CRMF
JPMT
UBERMETA
FUBER
MSFTMETA
  
High negative correlations   
CRMT
XOMMSFT
XOMT
TUBER
MRKUBER
TF

Invesco CurrencyShares Competition Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco CurrencyShares 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 CurrencyShares' 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  1.31  0.00  0.00 (0.01) 2.39 
 2.98 
 13.78 
MSFT  0.88  0.09  0.07  0.08  1.18 
 1.83 
 5.60 
UBER  1.54 (0.14) 0.00 (0.17) 0.00 
 2.99 
 9.02 
F  1.36 (0.04) 0.00 (0.04) 0.00 
 3.06 
 10.93 
T  0.83  0.15  0.17  0.26  0.79 
 2.15 
 4.80 
A  1.31 (0.10) 0.00 (0.08) 0.00 
 2.33 
 13.61 
CRM  1.54 (0.30) 0.00 (0.16) 0.00 
 2.64 
 23.62 
JPM  0.97  0.04  0.02  0.03  1.64 
 1.94 
 8.41 
MRK  0.73  0.12  0.15  0.22  0.69 
 2.30 
 7.59 
XOM  0.90  0.03  0.03  0.04  1.05 
 1.98 
 5.27