Invesco SP Correlations

PSCM Etf

USD 77.33 0.50 0.65%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco SP SmallCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Very weak diversification

The correlation between Invesco SP SmallCap and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP SmallCap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco SP SmallCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Invesco Etf

0.78	XLB	Materials Select Sector	Pair Corr
0.8	VAW	Vanguard Materials Index	Pair Corr
0.87	XME	SPDR SP Metals	Pair Corr
0.67	PHO	Invesco Water Resources	Pair Corr
0.74	MOO	VanEck Agribusiness ETF	Pair Corr
0.86	FXZ	First Trust Materials	Pair Corr
0.66	FIW	First Trust Water	Pair Corr
0.74	URNM	Sprott Uranium Miners	Pair Corr
0.96	IYM	iShares Basic Materials	Pair Corr
0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.82	USD	ProShares Ultra Semi	Pair Corr
0.8	TECL	Direxion Daily Technology	Pair Corr
0.79	ROM	ProShares Ultra Tech	Pair Corr
0.91	QLD	ProShares Ultra QQQ	Pair Corr
0.92	SMH	VanEck Semiconductor ETF	Pair Corr
0.77	SOXX	iShares Semiconductor ETF Potential Growth	Pair Corr
0.8	SPXL	Direxion Daily SP500	Pair Corr
0.8	UPRO	ProShares UltraPro SP500	Pair Corr
0.62	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.89	KEMQ	KraneShares Emerging	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr

Moving against Invesco Etf

0.61	TRV	The Travelers Companies	Pair Corr
0.49	WMT	Walmart	Pair Corr
0.38	MCD	McDonalds	Pair Corr
0.37	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	PSCI	PSCF	PSCC	PSCU	PSCD
PSCI		0.97	0.23	0.65	0.95	PSCI
PSCF	0.97		0.25	0.74	0.91	PSCF
PSCC	0.23	0.25		0.16	0.2	PSCC
PSCU	0.65	0.74	0.16		0.53	PSCU
PSCD	0.95	0.91	0.2	0.53		PSCD
	PSCI	PSCF	PSCC	PSCU	PSCD

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Invesco SP Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco SP 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 SP'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
PSCI	0.97	0.04	0.09	0.26	0.57	(1.18)	2.91	(1.33)	6.87
PSCF	0.89	(0.05)	(0.04)	0.18	0.92	(1.08)	2.12	(1.45)	6.24
PSCC	0.94	(0.13)	(0.11)	0.10	1.01	(1.07)	1.91	(1.88)	5.06
PSCU	0.72	0.12	(0.17)	(0.10)	0.99	(0.66)	1.19	(1.75)	4.16
PSCD	1.13	0.01	0.06	0.24	1.09	(1.29)	3.10	(1.94)	8.72

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