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.

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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

0.67	FUTY	Fidelity MSCI Utilities	Pair Corr
0.62	FXU	First Trust Utilities	Pair Corr
0.62	JXI	iShares Global Utilities	Pair Corr
0.61	PMBS	PIMCO Mortgage Backed	Pair Corr
0.7	SIXD	AIM ETF Products	Pair Corr
0.86	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.74	HDV	iShares Core High	Pair Corr
0.66	JHDV	John Hancock Exchange	Pair Corr
0.61	DFCF	Dimensional ETF Trust	Pair Corr
0.7	MMM	3M Company	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.83	INTC	Intel	Pair Corr
0.69	AXP	American Express	Pair Corr
0.84	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.64	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.68	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against Invesco Etf

0.69	YCL	ProShares Ultra Yen	Pair Corr
0.67	VXX	iPath Series B	Pair Corr
0.67	VIXY	ProShares VIX Short	Pair Corr
0.47	KO	Coca Cola	Pair Corr
0.39	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	PSCC	PSCI	PSCF	PSCM	PSCD
PSCC		0.24	0.25	0.26	0.18	PSCC
PSCI	0.24		0.98	0.95	0.94	PSCI
PSCF	0.25	0.98		0.93	0.89	PSCF
PSCM	0.26	0.95	0.93		0.85	PSCM
PSCD	0.18	0.94	0.89	0.85		PSCD
	PSCC	PSCI	PSCF	PSCM	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	(0.99)	1.91	(2.04)	5.92
PSCI	1.00	0.10	0.19	0.27	0.48	(1.21)	2.93	(1.33)	6.87
PSCF	0.89	(0.06)	(0.01)	0.15	0.93	(1.04)	2.12	(1.56)	6.24
PSCM	1.21	0.11	0.13	0.29	0.76	(1.49)	3.50	(1.99)	5.96
PSCD	1.16	0.37	0.10	(2.89)	1.13	(1.31)	3.29	(2.55)	8.72

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