Invesco SP Correlations

PSCD Etf

USD 113.92 0.20 0.18%

The current 90-days correlation between Invesco SP SmallCap and EA Series Trust is 0.74 (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.

Invesco SP Correlation With Market

Almost no diversification

The correlation between Invesco SP SmallCap and DJI is 0.92 (i.e., Almost no 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.

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 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 services.

Moving together with Invesco Etf

0.65	XLY	Consumer Discretionary	Pair Corr
0.69	VCR	Vanguard Consumer	Pair Corr
0.84	ITB	iShares Home Construction Low Volatility	Pair Corr
0.69	FDIS	Fidelity MSCI Consumer	Pair Corr
0.87	XHB	SPDR SP Homebuilders	Pair Corr
0.71	IYC	iShares Consumer Dis	Pair Corr
0.73	PEJ	Invesco Dynamic Leisure	Pair Corr
0.94	FXD	First Trust Consumer	Pair Corr
0.92	XRT	SPDR SP Retail	Pair Corr
0.83	JNUG	Direxion Daily Junior	Pair Corr
0.78	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.84	NUGT	Direxion Daily Gold	Pair Corr
0.62	AGQ	ProShares Ultra Silver	Pair Corr
0.83	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.63	FXC	Invesco CurrencyShares	Pair Corr
0.82	VTHR	Vanguard Russell 3000	Pair Corr
0.91	GAPR	First Trust Exchange	Pair Corr
0.87	BSMS	Invesco BulletShares 2028	Pair Corr
0.88	TAXT	Northern Trust Tax	Pair Corr
0.78	QLV	FlexShares Quality Low	Pair Corr
0.8	TSPX	Twin Oak Active	Pair Corr
0.91	SPVM	Invesco SP 500	Pair Corr
0.84	FPXE	First Trust IPOX	Pair Corr
0.82	UDI	USCF ETF Trust	Pair Corr
0.88	JPIE	JP Morgan Exchange	Pair Corr
0.91	VBK	Vanguard Small Cap	Pair Corr
0.82	XTWO	Bondbloxx ETF Trust	Pair Corr
0.91	PFF	iShares Preferred	Pair Corr
0.81	IBBQ	Invesco Nasdaq Biote	Pair Corr
0.71	LSEQ	Harbor ETF Trust	Pair Corr
0.87	WLTG	ETF Opportunities Trust	Pair Corr
0.85	FNDC	Schwab Fundamental	Pair Corr
0.87	TOCT	Innovator Equity Defined	Pair Corr

Moving against Invesco Etf

0.7

RCD

Ready Capital

Pair Corr

Related Correlations Analysis

	EWK	FPWR	STXI	DIEM	COPJ	AVNV	PSCF	AAVM	FORH	STXM
EWK		0.83	0.93	0.97	0.84	0.97	0.81	0.96	0.62	0.88	EWK
FPWR	0.83		0.63	0.77	0.49	0.72	0.46	0.69	0.31	0.58	FPWR
STXI	0.93	0.63		0.96	0.93	0.99	0.9	0.99	0.77	0.96	STXI
DIEM	0.97	0.77	0.96		0.9	0.98	0.8	0.97	0.68	0.91	DIEM
COPJ	0.84	0.49	0.93	0.9		0.93	0.84	0.93	0.78	0.93	COPJ
AVNV	0.97	0.72	0.99	0.98	0.93		0.88	0.99	0.73	0.95	AVNV
PSCF	0.81	0.46	0.9	0.8	0.84	0.88		0.9	0.78	0.93	PSCF
AAVM	0.96	0.69	0.99	0.97	0.93	0.99	0.9		0.75	0.97	AAVM
FORH	0.62	0.31	0.77	0.68	0.78	0.73	0.78	0.75		0.84	FORH
STXM	0.88	0.58	0.96	0.91	0.93	0.95	0.93	0.97	0.84		STXM
	EWK	FPWR	STXI	DIEM	COPJ	AVNV	PSCF	AAVM	FORH	STXM

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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
EWK	0.54	0.19	0.25	0.55	0.20	(0.64)	1.24	(0.91)	3.12
FPWR	0.55	0.12	0.11	0.48	0.45	(0.61)	1.43	(0.98)	2.67
STXI	0.64	0.10	0.11	0.19	0.60	(0.68)	1.28	(1.21)	3.38
DIEM	0.61	0.16	0.15	0.34	0.58	(0.68)	1.87	(1.20)	4.68
COPJ	1.95	0.46	0.16	0.39	2.66	(2.18)	4.43	(3.99)	15.83
AVNV	0.61	0.18	0.18	0.33	0.57	(0.65)	1.37	(1.19)	3.81
PSCF	0.75	0.07	0.06	0.14	0.76	(0.92)	2.08	(1.33)	4.96
AAVM	0.67	0.17	0.19	0.27	0.50	(0.76)	1.55	(1.29)	4.28
FORH	0.68	(0.03)	(0.05)	0.02	0.88	(0.73)	1.36	(1.67)	4.56
STXM	0.75	0.07	0.07	0.13	0.78	(0.83)	1.60	(1.66)	4.06

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