USDM1 vs Invesco Short Duration US Government Securities Fund

Invesco Short Duration US Government Securities Fund (USTB) is 598.2× the size of USDM1 (USDM1) by market capitalisation. Over the past 30 days, USTB is ahead by 0.1 percentage points (USDM1 +0.4% against USTB +0.5%). Their daily returns move barely together (correlation 0.04 across 29 shared trading days). USDM1 has been the more volatile of the two, at 6% annualised against USTB's 1%.

Correlation: 0.04
Size ratio: 1 : 598.2
Ahead over 30 days: USTB

USDM1USDM1

$1.0210

24h: —
Market cap: $1.04M
Volume 24h: $1,327
Volatility (ann.): 6%

Invesco Short Duration US Government Securities FundUSTB

$11.2700

24h: +0.01%
Market cap: $622.92M
Volume 24h: —
Volatility (ann.): 1%

USDM1 0.2%Share of the two combined market caps99.8% USTB

Performance

USDM1USTB

7 days+0.10%+0.09%USDM1
30 days+0.39%+0.54%USTB

Correlation

0.04over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	USDM1	USTB
Max drawdown (400d)	-1.2%	0.0%
Risk-adjusted return (90d)	0.05	1.15

Relative strength over 90 days: USTB outperformed USDM1 by 0.4% — measured on the USDM1/USTB ratio, so it holds regardless of market direction.

USDM1 →Invesco Short Duration US Government Securities Fund →