Invesco SP Correlations
PSCU Etf | USD 56.57 0.11 0.19% |
The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.61 (i.e., Poor diversification). The correlation of Invesco SP 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 SP Correlation With Market
Poor diversification
The correlation between Invesco SP SmallCap and DJI is 0.64 (i.e., Poor 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.
Moving together with Invesco Etf
0.67 | FUTY | Fidelity MSCI Utilities | PairCorr |
0.62 | FXU | First Trust Utilities | PairCorr |
0.62 | JXI | iShares Global Utilities | PairCorr |
0.61 | PMBS | PIMCO Mortgage Backed | PairCorr |
0.7 | SIXD | AIM ETF Products | PairCorr |
0.86 | PFFL | ETRACS 2xMonthly Pay | PairCorr |
0.74 | HDV | iShares Core High | PairCorr |
0.66 | JHDV | John Hancock Exchange | PairCorr |
0.61 | DFCF | Dimensional ETF Trust | PairCorr |
0.7 | MMM | 3M Company | PairCorr |
0.64 | BAC | Bank of America | PairCorr |
0.83 | INTC | Intel | PairCorr |
0.69 | AXP | American Express | PairCorr |
0.84 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
0.7 | JPM | JPMorgan Chase | PairCorr |
0.73 | CAT | Caterpillar | PairCorr |
0.64 | PFE | Pfizer Inc Aggressive Push | PairCorr |
0.68 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
Moving against Invesco Etf
0.69 | YCL | ProShares Ultra Yen | PairCorr |
0.67 | VXX | iPath Series B | PairCorr |
0.67 | VIXY | ProShares VIX Short | PairCorr |
0.47 | KO | Coca Cola | PairCorr |
0.39 | MCD | McDonalds | PairCorr |
Related Correlations Analysis
0.24 | 0.25 | 0.26 | 0.18 | PSCC | ||
0.24 | 0.98 | 0.95 | 0.94 | PSCI | ||
0.25 | 0.98 | 0.93 | 0.89 | PSCF | ||
0.26 | 0.95 | 0.93 | 0.85 | PSCM | ||
0.18 | 0.94 | 0.89 | 0.85 | 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
PSCC | 0.93 | (0.16) | (0.12) | 0.05 | 1.15 | 1.91 | 5.92 | |||
PSCI | 1.00 | 0.10 | 0.19 | 0.27 | 0.48 | 2.93 | 6.87 | |||
PSCF | 0.89 | (0.06) | (0.01) | 0.15 | 0.93 | 2.12 | 6.24 | |||
PSCM | 1.21 | 0.11 | 0.13 | 0.29 | 0.76 | 3.50 | 5.96 | |||
PSCD | 1.16 | 0.37 | 0.10 | (2.89) | 1.13 | 3.29 | 8.72 |