Invesco SP Correlations
XSVM Etf | USD 53.57 0.44 0.83% |
The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.96 (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 SmallCap 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 SmallCap and DJI is 0.85 (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 SmallCap and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Invesco Etf
0.98 | VBR | Vanguard Small Cap | PairCorr |
0.98 | IWN | iShares Russell 2000 | PairCorr |
0.98 | IJJ | iShares SP Mid | PairCorr |
0.98 | DFAT | Dimensional Targeted | PairCorr |
0.98 | IJS | iShares SP Small | PairCorr |
0.98 | SLYV | SPDR SP 600 | PairCorr |
0.92 | AVUV | Avantis Small Cap | PairCorr |
0.99 | DES | WisdomTree SmallCap | PairCorr |
0.93 | MDYV | SPDR SP 400 | PairCorr |
0.93 | CALF | Pacer Small Cap Low Volatility | PairCorr |
0.91 | USD | ProShares Ultra Semi | PairCorr |
0.83 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.86 | DFEN | Direxion Daily Aerospace | PairCorr |
0.88 | FNGO | MicroSectors FANG Index | PairCorr |
0.92 | DUSL | Direxion Daily Indus | PairCorr |
0.93 | TECL | Direxion Daily Technology | PairCorr |
0.74 | DIG | ProShares Ultra Oil | PairCorr |
0.69 | KWEB | KraneShares CSI China | PairCorr |
0.76 | DFCF | Dimensional ETF Trust | PairCorr |
0.88 | KEMQ | KraneShares Emerging | PairCorr |
0.77 | IBM | International Business | PairCorr |
0.95 | CAT | Caterpillar | PairCorr |
0.88 | BA | Boeing Earnings Call This Week | PairCorr |
0.94 | JPM | JPMorgan Chase | PairCorr |
0.84 | PFE | Pfizer Inc Aggressive Push | PairCorr |
0.89 | AA | Alcoa Corp | PairCorr |
0.8 | GE | GE Aerospace | PairCorr |
0.94 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
0.82 | DIS | Walt Disney | PairCorr |
0.84 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
0.91 | BAC | Bank of America | PairCorr |
0.85 | INTC | Intel | PairCorr |
Moving against Invesco Etf
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
RWJ | 1.08 | 0.02 | 0.09 | 0.21 | 0.94 | 2.69 | 7.50 | |||
XMVM | 0.81 | (0.03) | 0.00 | 0.17 | 0.83 | 1.92 | 6.36 | |||
RZV | 1.11 | 0.39 | 0.14 | (3.20) | 0.87 | 2.57 | 7.51 | |||
XMMO | 0.69 | 0.09 | 0.10 | 0.29 | 0.38 | 1.86 | 5.24 | |||
CALF | 0.88 | 0.05 | 0.09 | 0.24 | 0.53 | 2.36 | 6.40 |