Invesco Physical Correlations

SSLV Stock

30.45 0.21 0.68%

The current 90-days correlation between Invesco Physical Silver and iShares Physical Silver is 1.0 (i.e., No risk reduction). The correlation of Invesco Physical 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 Physical Correlation With Market

Good diversification

The correlation between Invesco Physical Silver and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Physical Silver and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Invesco Physical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco Physical when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco Physical - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco Physical Silver to buy it.

Moving together with Invesco Stock

1.0	ISLN	iShares Physical Silver	Pair Corr
0.81	SSLN	iShares Physical Silver	Pair Corr
0.8	SGLD	Invesco Physical Gold	Pair Corr
0.81	XGLS	DB Physical Gold	Pair Corr
0.78	SPLT	iShares Physical Platinum	Pair Corr

Related Correlations Analysis

	ISLN	SSLV	NMT	0R8Q	FSEM	0AAU	LEND	PABE	SMRU	SXLB
ISLN		1.0	0.22	0.04	-0.19	0.01	0.28	0.48	-0.18	0.48	ISLN
SSLV	1.0		0.22	0.03	-0.19	0.0	0.28	0.47	-0.18	0.47	SSLV
NMT	0.22	0.22		0.07	0.14	0.02	0.13	0.65	0.06	0.38	NMT
0R8Q	0.04	0.03	0.07		0.58	-0.74	0.46	0.52	-0.55	0.38	0R8Q
FSEM	-0.19	-0.19	0.14	0.58		-0.13	-0.2	0.28	0.08	0.27	FSEM
0AAU	0.01	0.0	0.02	-0.74	-0.13		-0.73	-0.37	0.67	-0.15	0AAU
LEND	0.28	0.28	0.13	0.46	-0.2	-0.73		0.4	-0.63	0.26	LEND
PABE	0.48	0.47	0.65	0.52	0.28	-0.37	0.4		-0.15	0.7	PABE
SMRU	-0.18	-0.18	0.06	-0.55	0.08	0.67	-0.63	-0.15		0.13	SMRU
SXLB	0.48	0.47	0.38	0.38	0.27	-0.15	0.26	0.7	0.13		SXLB
	ISLN	SSLV	NMT	0R8Q	FSEM	0AAU	LEND	PABE	SMRU	SXLB

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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

SSLV	+ 1.0	ISLN
SXLB	+ 0.7	PABE
SMRU	+ 0.67	0AAU
PABE	+ 0.65	NMT
FSEM	+ 0.58	0R8Q
PABE	+ 0.52	0R8Q

High negative correlations

0AAU	- 0.74	0R8Q
LEND	- 0.73	0AAU
SMRU	- 0.63	LEND
SMRU	- 0.55	0R8Q
PABE	- 0.37	0AAU
LEND	- 0.2	FSEM

Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco Physical Company 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 Physical'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
ISLN	1.38	0.19	0.04	(7.85)	1.73	(1.48)	3.02	(3.06)	8.80
SSLV	1.36	0.19	0.04	(3.30)	1.84	(1.41)	3.05	(3.19)	8.70
NMT	1.67	0.15	0.00	0.90	0.00	0.00	7.37	(5.00)	36.62
0R8Q	1.20	(0.46)	0.00	(0.62)	0.00	0.00	1.69	(2.15)	14.57
FSEM	0.27	(0.02)	(0.23)	0.03	0.27	(0.45)	0.51	(0.51)	2.31
0AAU	1.84	0.47	0.14	(0.53)	1.52	(2.82)	4.79	(3.08)	17.69
LEND	2.68	0.02	0.00	0.10	0.00	0.00	11.11	(10.00)	44.44
PABE	0.78	0.06	(0.06)	(3.00)	0.85	(0.88)	1.72	(1.51)	4.51
SMRU	0.43	0.06	(0.05)	0.44	0.31	(0.46)	1.22	(0.81)	2.52
SXLB	0.66	(0.03)	(0.13)	0.02	0.84	(0.65)	1.48	(1.47)	3.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Invesco Physical without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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