Correlation Analysis Between Invesco China and Invesco China

This module allows you to analyze existing cross correlation between Invesco China Real Estate ETF and Invesco China Small Cap ETF. You can compare the effects of market volatilities on Invesco China and Invesco China and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Invesco China with a short position of Invesco China. See also your portfolio center. Please also check ongoing floating volatility patterns of Invesco China and Invesco China.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

Invesco China Real  
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Risk-Adjusted Performance

Over the last 30 days Invesco China Real Estate ETF has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough latest uncertain performance, the Etf's forward indicators remain persistent and the existing mess on Wall Street may also be a sign of long standing gains for the ETF venture partners.
Invesco China Small  
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Risk-Adjusted Performance

Over the last 30 days Invesco China Small Cap ETF has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough quite persistent forward indicators, Invesco China is not utilizing all of its potentials. The late stock price mess, may contribute to short term losses for the partners.

Invesco China and Invesco China Volatility Contrast

 Predicted Return Density 
      Returns 

Invesco China Real Estate ETF  vs.  Invesco China Small Cap ETF

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, Invesco China Real Estate ETF is expected to under-perform the Invesco China. In addition to that, Invesco China is 1.36 times more volatile than Invesco China Small Cap ETF. It trades about -0.1 of its total potential returns per unit of risk. Invesco China Small Cap ETF is currently generating about -0.05 per unit of volatility. If you would invest  2,550  in Invesco China Small Cap ETF on September 14, 2019 and sell it today you would lose (107.00)  from holding Invesco China Small Cap ETF or give up 4.2% of portfolio value over 30 days.

Pair Corralation between Invesco China and Invesco China

0.88
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Invesco China and Invesco China

Invesco China Real Estate ETF diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Invesco China Real Estate ETF and Invesco China Small Cap ETF in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Invesco China Small and Invesco China is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Invesco China Real Estate ETF are associated (or correlated) with Invesco China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Invesco China Small has no effect on the direction of Invesco China i.e. Invesco China and Invesco China go up and down completely randomly.
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