Invesco DB Correlations

DBE Etf

USD 17.82 0.25 1.42%

The current 90-days correlation between Invesco DB Energy and United States 12 is 0.95 (i.e., Almost no diversification). The correlation of Invesco DB 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 DB Correlation With Market

Significant diversification

The correlation between Invesco DB Energy and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DB Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco DB Energy. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Invesco Etf

0.77

USO

United States Oil Sell-off Trend

Pair Corr

Moving against Invesco Etf

0.64	JNUG	Direxion Daily Junior	Pair Corr
0.62	GDXU	MicroSectors Gold Miners	Pair Corr
0.58	NUGT	Direxion Daily Gold	Pair Corr
0.58	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.56	GLTR	abrdn Physical Precious	Pair Corr
0.55	GLD	SPDR Gold Shares	Pair Corr
0.55	IAU	iShares Gold Trust	Pair Corr
0.55	GLDM	SPDR Gold Mini Sell-off Trend	Pair Corr
0.55	SGOL	abrdn Physical Gold	Pair Corr
0.55	IAUM	iShares Gold Trust Sell-off Trend	Pair Corr
0.51	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.51	SIVR	abrdn Physical Silver	Pair Corr
0.49	AGQ	ProShares Ultra Silver	Pair Corr
0.64	SHNY	Microsectors Gold	Pair Corr
0.63	SIL	Global X Silver	Pair Corr
0.59	GBUG	Sprott Active Gold	Pair Corr
0.42	UCRD	VictoryShares ESG	Pair Corr
0.4	DVXB	WEBs Defined Volatility	Pair Corr
0.39	SMLV	SPDR SSGA Small	Pair Corr
0.38	SAWS	AAM Sawgrass Small	Pair Corr
0.37	ZSB	USCF Sustainable Battery	Pair Corr
0.34	CPER	United States Copper	Pair Corr
0.32	HEZU	iShares Currency Hedged	Pair Corr
0.31	CPSU	Calamos SP 500	Pair Corr
0.55	PLTM	GraniteShares Platinum	Pair Corr
0.44	MYCI	SPDR SSGA My2029	Pair Corr
0.41	REMX	VanEck Rare EarthStr	Pair Corr
0.36	EASG	Xtrackers MSCI EAFE	Pair Corr

Related Correlations Analysis

	USL	GEME	AFSM	ARP	XUSP	REMG	HQGO	FDNI	JPY	HRTS
USL		-0.42	-0.14	-0.65	-0.15	-0.19	-0.17	0.67	-0.32	-0.72	USL
GEME	-0.42		0.56	0.86	0.84	0.86	0.85	-0.31	0.65	0.59	GEME
AFSM	-0.14	0.56		0.52	0.57	0.3	0.7	-0.21	0.61	0.32	AFSM
ARP	-0.65	0.86	0.52		0.71	0.72	0.72	-0.53	0.64	0.76	ARP
XUSP	-0.15	0.84	0.57	0.71		0.87	0.97	-0.07	0.61	0.39	XUSP
REMG	-0.19	0.86	0.3	0.72	0.87		0.81	-0.07	0.58	0.4	REMG
HQGO	-0.17	0.85	0.7	0.72	0.97	0.81		-0.14	0.67	0.42	HQGO
FDNI	0.67	-0.31	-0.21	-0.53	-0.07	-0.07	-0.14		-0.19	-0.86	FDNI
JPY	-0.32	0.65	0.61	0.64	0.61	0.58	0.67	-0.19		0.37	JPY
HRTS	-0.72	0.59	0.32	0.76	0.39	0.4	0.42	-0.86	0.37		HRTS
	USL	GEME	AFSM	ARP	XUSP	REMG	HQGO	FDNI	JPY	HRTS

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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

HQGO	+ 0.97	XUSP
REMG	+ 0.87	XUSP
ARP	+ 0.86	GEME
REMG	+ 0.86	GEME
HQGO	+ 0.85	GEME
XUSP	+ 0.84	GEME

High negative correlations

HRTS	- 0.86	FDNI
HRTS	- 0.72	USL
ARP	- 0.65	USL
FDNI	- 0.53	ARP
GEME	- 0.42	USL
JPY	- 0.32	USL

Invesco DB Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DB 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 DB'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
USL	1.03	(0.09)	0.00	(0.44)	0.00	0.00	1.83	(2.38)	6.21
GEME	0.78	0.05	0.04	0.12	0.88	(0.84)	1.68	(1.71)	5.67
AFSM	0.81	(0.05)	(0.04)	0.01	1.07	(0.84)	1.64	(1.79)	4.17
ARP	0.55	0.06	0.05	0.16	0.65	(0.54)	1.56	(1.25)	4.24
XUSP	0.80	(0.03)	(0.01)	0.04	1.11	(0.73)	1.56	(1.87)	4.63
REMG	0.74	0.00	(0.01)	0.06	1.00	(0.76)	1.37	(1.24)	4.80
HQGO	0.68	(0.03)	(0.03)	0.03	0.95	(0.63)	1.36	(1.50)	3.74
FDNI	1.00	(0.22)	0.00	(0.15)	0.00	0.00	1.95	(1.87)	7.55
JPY	0.80	0.01	(0.03)	0.14	1.17	(0.81)	1.75	(1.88)	6.60
HRTS	0.73	0.20	0.25	0.33	0.36	(0.83)	1.96	(1.21)	4.31

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