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

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Moving against Invesco Etf

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  0.4FXB Invesco CurrencySharesPairCorr
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  0.33SPXL Direxion Daily SP500PairCorr
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  0.75GE GE Aerospace Financial Report 23rd of July 2024 PairCorr
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  0.67KO Coca Cola Aggressive PushPairCorr
  0.53DD Dupont De Nemours Financial Report 7th of August 2024 PairCorr
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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   
High negative correlations   

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 
MSFT  0.88  0.09  0.07  0.08  1.18 
UBER  1.54 (0.14) 0.00 (0.17) 0.00 
F  1.36 (0.04) 0.00 (0.04) 0.00 
T  0.83  0.15  0.17  0.26  0.79 
A  1.31 (0.10) 0.00 (0.08) 0.00 
CRM  1.54 (0.30) 0.00 (0.16) 0.00 
JPM  0.97  0.04  0.02  0.03  1.64 
MRK  0.73  0.12  0.15  0.22  0.69 
XOM  0.90  0.03  0.03  0.04  1.05