Invesco Dividend Correlations

PFM Etf  USD 47.29  0.46  0.98%   
The current 90-days correlation between Invesco Dividend Ach and Vanguard Russell 1000 is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Dividend Achievers moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco Dividend Correlation With Market

Almost no diversification

The correlation between Invesco Dividend Achievers 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 Dividend Achievers and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Dividend Achievers. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Invesco Etf

  0.99VTV Vanguard Value IndexPairCorr
  0.97VYM Vanguard High DividendPairCorr
  0.97IWD iShares Russell 1000PairCorr
  0.99DGRO iShares Core DividendPairCorr
  0.98IVE iShares SP 500PairCorr
  0.92DVY iShares Select DividendPairCorr
  0.98SPYV SPDR Portfolio SPPairCorr
  0.97FVD First Trust ValuePairCorr
  0.98IUSV iShares Core SPPairCorr
  0.89NOBL ProShares SP 500PairCorr
  0.78ARKW ARK Next GenerationPairCorr
  0.93EWC iShares MSCI Canada Sell-off TrendPairCorr
  0.84BST BlackRock Science TechPairCorr
  0.94SPY SPDR SP 500PairCorr
  0.94PPA Invesco Aerospace DefensePairCorr
  0.87CSCO Cisco SystemsPairCorr
  0.73T ATT Inc Aggressive PushPairCorr
  0.84INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.67DIS Walt Disney Aggressive PushPairCorr
  0.78TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.67IBM International Business Fiscal Year End 22nd of January 2025 PairCorr
  0.81WMT Walmart Aggressive PushPairCorr
  0.84AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.68MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.74GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.78HPQ HP IncPairCorr

Moving against Invesco Etf

  0.69HUM Humana Inc Fiscal Year End 23rd of January 2025 PairCorr
  0.65MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.49KO Coca Cola Aggressive PushPairCorr
  0.37PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.33PG Procter GamblePairCorr

Related Correlations Analysis

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Invesco Dividend Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Dividend 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 Dividend'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.