Invesco DWA Correlations

DWAS Etf

USD 102.56 0.83 0.82%

The current 90-days correlation between Invesco DWA SmallCap and Tortoise Capital Series is 0.08 (i.e., Significant diversification). The correlation of Invesco DWA 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 DWA Correlation With Market

Very poor diversification

The correlation between Invesco DWA SmallCap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA SmallCap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco DWA 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 nation.

Moving together with Invesco Etf

0.94	VB	Vanguard Small Cap	Pair Corr
0.96	IJR	iShares Core SP Sell-off Trend	Pair Corr
0.96	IWM	iShares Russell 2000	Pair Corr
0.96	VRTIX	Vanguard Russell 2000	Pair Corr
0.96	VTWO	Vanguard Russell 2000	Pair Corr
0.96	FNDA	Schwab Fundamental Small	Pair Corr
0.96	SPSM	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.96	DFAS	Dimensional Small Cap	Pair Corr
0.96	VIOO	Vanguard SP Small	Pair Corr
0.92	PRFZ	Invesco FTSE RAFI	Pair Corr
0.73	MUU	Direxion Daily MU	Pair Corr
0.73	MULL	GraniteShares 2x Long	Pair Corr
0.76	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.86	JNUG	Direxion Daily Junior	Pair Corr
0.83	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.68	KORU	Direxion Daily South	Pair Corr
0.85	NUGT	Direxion Daily Gold	Pair Corr
0.75	SHNY	Microsectors Gold Upward Rally	Pair Corr
0.89	SIL	Global X Silver	Pair Corr
0.8	SIVR	abrdn Physical Silver	Pair Corr
0.9	AHYB	American Century ETF	Pair Corr
0.85	RDIV	Invesco SP Ultra	Pair Corr
0.87	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.96	OASC	OneAscent Small Cap	Pair Corr
0.91	VBK	Vanguard Small Cap	Pair Corr
0.8	MRK	Merck Company Aggressive Push	Pair Corr
0.7	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr

Moving against Invesco Etf

0.64	HPQ	HP Inc	Pair Corr
0.43	T	ATT Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	PFM	QQQJ	EQAL	IUS	RSPH	OAKM	QAI	RSPN	DMXF	TPYP
PFM		0.92	0.97	0.99	0.86	0.87	0.91	0.95	0.91	0.68	PFM
QQQJ	0.92		0.96	0.94	0.79	0.81	0.96	0.96	0.95	0.57	QQQJ
EQAL	0.97	0.96		0.99	0.85	0.86	0.96	0.98	0.94	0.69	EQAL
IUS	0.99	0.94	0.99		0.83	0.85	0.95	0.97	0.94	0.73	IUS
RSPH	0.86	0.79	0.85	0.83		0.82	0.72	0.79	0.7	0.53	RSPH
OAKM	0.87	0.81	0.86	0.85	0.82		0.76	0.82	0.76	0.43	OAKM
QAI	0.91	0.96	0.96	0.95	0.72	0.76		0.97	0.99	0.66	QAI
RSPN	0.95	0.96	0.98	0.97	0.79	0.82	0.97		0.96	0.66	RSPN
DMXF	0.91	0.95	0.94	0.94	0.7	0.76	0.99	0.96		0.65	DMXF
TPYP	0.68	0.57	0.69	0.73	0.53	0.43	0.66	0.66	0.65		TPYP
	PFM	QQQJ	EQAL	IUS	RSPH	OAKM	QAI	RSPN	DMXF	TPYP

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Invesco DWA Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DWA 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 DWA'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
PFM	0.46	0.03	0.03	0.08	0.47	(0.50)	0.96	(0.89)	2.93
QQQJ	0.88	0.03	0.03	0.07	0.98	(0.94)	1.71	(1.75)	4.53
EQAL	0.60	0.06	0.07	0.11	0.59	(0.66)	1.33	(1.04)	3.13
IUS	0.50	0.05	0.06	0.11	0.52	(0.51)	1.10	(0.90)	3.14
RSPH	0.67	0.04	0.05	0.09	0.54	(0.94)	2.18	(1.16)	4.42
OAKM	0.62	0.06	0.07	0.11	0.63	(0.64)	1.52	(1.12)	3.91
QAI	0.29	0.02	(0.02)	0.09	0.33	(0.29)	0.61	(0.70)	1.65
RSPN	0.70	0.09	0.11	0.13	0.66	(0.78)	1.76	(1.24)	4.12
DMXF	0.67	0.04	0.03	0.09	0.88	(0.62)	1.56	(1.51)	3.82
TPYP	0.62	0.17	0.16	3.69	0.54	(0.69)	1.23	(1.16)	3.35

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