| PXE Etf | | | USD 32.03 0.02 0.06% |
The current 90-days correlation between Invesco Dynamic Energy and iShares Oil Equipment is 0.85 (i.e., Very poor diversification). The correlation of Invesco Dynamic 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 Dynamic Correlation With Market
Very weak diversification
The correlation between Invesco Dynamic Energy and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Dynamic Energy and DJI in the same portfolio, assuming nothing else is changed.
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