Invesco SP Correlations

SPVM Etf

USD 64.52 1.27 2.01%

The current 90-days correlation between Invesco SP 500 and Invesco SP 500 is 0.86 (i.e., Very 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 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Very poor diversification

The correlation between Invesco SP 500 and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP 500 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Invesco Etf

0.99	VOE	Vanguard Mid Cap	Pair Corr
0.97	SDY	SPDR SP Dividend	Pair Corr
0.97	IWS	iShares Russell Mid	Pair Corr
0.94	SPYD	SPDR Portfolio SP	Pair Corr
0.89	COWZ	Pacer Cash Cows	Pair Corr
0.96	DON	WisdomTree MidCap	Pair Corr
0.83	RPV	Invesco SP 500	Pair Corr
0.89	PEY	Invesco High Yield	Pair Corr
0.98	PKW	Invesco BuyBack Achievers	Pair Corr
0.96	ONEY	SPDR Russell 1000	Pair Corr
0.84	SHLD	Global X Defense	Pair Corr
0.67	LUX	Tema ETF Trust	Pair Corr
0.67	HUM	Humana Inc	Pair Corr
0.95	SWP	SWP Growth Income	Pair Corr
0.96	DUKH	Ocean Park High	Pair Corr
0.94	WINN	Harbor Long Term	Pair Corr
0.83	BAC	Bank of America	Pair Corr
0.8	MRK	Merck Company	Pair Corr
0.9	JPM	JPMorgan Chase	Pair Corr
0.82	GE	GE Aerospace	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.82	PFE	Pfizer Inc	Pair Corr
0.91	CAT	Caterpillar	Pair Corr

Moving against Invesco Etf

0.89	FNGD	MicroSectors FANG Index	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.32	SMI	Van Eck	Pair Corr
0.42	IBM	International Business	Pair Corr

Related Correlations Analysis

	SPVU	SPMO	XMVM	XSVM	XRLV
SPVU		0.64	0.89	0.89	0.45	SPVU
SPMO	0.64		0.82	0.86	0.48	SPMO
XMVM	0.89	0.82		0.98	0.55	XMVM
XSVM	0.89	0.86	0.98		0.6	XSVM
XRLV	0.45	0.48	0.55	0.6		XRLV
	SPVU	SPMO	XMVM	XSVM	XRLV

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
SPVU	0.65	0.00	(0.01)	0.09	0.72	(0.71)	1.41	(1.23)	3.58
SPMO	0.66	0.08	0.07	0.19	0.64	(0.71)	1.50	(1.42)	4.48
XMVM	0.85	(0.01)	0.02	0.09	0.99	(0.88)	1.92	(1.82)	4.71
XSVM	1.05	0.03	0.07	0.11	1.13	(1.18)	2.52	(2.29)	5.36
XRLV	0.47	(0.03)	(0.14)	0.02	0.57	(0.49)	1.03	(0.98)	2.48

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