Invesco SP Correlations

RWK Etf

USD 125.80 0.34 0.27%

The current 90-days correlation between Invesco SP MidCap and Invesco SP SmallCap is 0.95 (i.e., Almost no 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 MidCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Good diversification

The correlation between Invesco SP MidCap and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP MidCap 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 MidCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Invesco Etf

0.76	VOE	Vanguard Mid Cap	Pair Corr
0.64	SDY	SPDR SP Dividend	Pair Corr
0.91	IWS	iShares Russell Mid	Pair Corr
0.89	SPYD	SPDR Portfolio SP	Pair Corr
0.92	COWZ	Pacer Cash Cows	Pair Corr
0.94	DON	WisdomTree MidCap	Pair Corr
0.84	RPV	Invesco SP 500	Pair Corr
0.76	PEY	Invesco High Yield	Pair Corr
0.9	PKW	Invesco BuyBack Achievers	Pair Corr
0.91	ONEY	SPDR Russell 1000	Pair Corr
0.73	FNGO	MicroSectors FANG Index	Pair Corr
0.71	GDXU	MicroSectors Gold Miners	Pair Corr
0.73	JNUG	Direxion Daily Junior	Pair Corr
0.71	NUGT	Direxion Daily Gold	Pair Corr
0.72	FNGG	Direxion Daily Select	Pair Corr
0.79	EBND	SPDR Bloomberg Emerging	Pair Corr
0.84	BAC	Bank of America	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.78	AXP	American Express Sell-off Trend	Pair Corr
0.82	DD	Dupont De Nemours	Pair Corr
0.73	HD	Home Depot	Pair Corr

Moving against Invesco Etf

0.33	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.45	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	RWJ	RWL	RFV	PRFZ	RZG
RWJ		0.97	0.82	0.98	0.98	RWJ
RWL	0.97		0.74	0.98	0.95	RWL
RFV	0.82	0.74		0.75	0.73	RFV
PRFZ	0.98	0.98	0.75		0.98	PRFZ
RZG	0.98	0.95	0.73	0.98		RZG
	RWJ	RWL	RFV	PRFZ	RZG

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
RWJ	0.96	0.17	0.07	(0.37)	0.91	(1.11)	2.56	(1.72)	5.90
RWL	0.39	0.10	0.04	(0.51)	0.33	(0.42)	1.08	(0.69)	2.62
RFV	0.84	0.05	(0.02)	(1.21)	0.87	(1.07)	2.21	(1.65)	5.50
PRFZ	0.78	0.17	0.10	(0.35)	0.66	(0.94)	2.14	(1.25)	5.11
RZG	0.79	0.13	0.04	(0.24)	0.70	(0.99)	2.39	(1.39)	4.61

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