Invesco SP Correlations

PSCD Etf

USD 112.98 2.43 2.20%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.79 (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

Poor diversification

The correlation between Invesco SP SmallCap and DJI is 0.65 (i.e., 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.

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 main economic indicators.

Moving together with Invesco Etf

0.75	XLY	Consumer Discretionary	Pair Corr
0.79	VCR	Vanguard Consumer	Pair Corr
0.79	FDIS	Fidelity MSCI Consumer	Pair Corr
0.76	IYC	iShares Consumer Dis	Pair Corr
0.74	PEJ	Invesco Dynamic Leisure	Pair Corr
0.89	FXD	First Trust Consumer	Pair Corr
0.71	RCD	Invesco SP 500	Pair Corr
0.93	XRT	SPDR SP Retail	Pair Corr
0.64	CRPT	First Trust SkyBridge	Pair Corr
0.63	DAPP	VanEck Digital Trans	Pair Corr
0.65	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.62	BITQ	Bitwise Crypto Industry	Pair Corr
0.62	BTC	Grayscale Bitcoin Mini	Pair Corr
0.78	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.77	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.66	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.67	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Invesco Etf

0.5	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.44	KO	Coca Cola Aggressive Push	Pair Corr
0.43	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.39	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PSCI	PSCC	PSCF	PSCM	PSCU
PSCI		0.81	0.96	0.92	0.96	PSCI
PSCC	0.81		0.81	0.86	0.74	PSCC
PSCF	0.96	0.81		0.86	0.96	PSCF
PSCM	0.92	0.86	0.86		0.85	PSCM
PSCU	0.96	0.74	0.96	0.85		PSCU
	PSCI	PSCC	PSCF	PSCM	PSCU

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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
PSCI	1.02	0.05	0.10	0.13	0.88	(1.20)	2.56	(1.31)	8.39
PSCC	0.77	0.01	(0.02)	0.11	0.83	(0.80)	1.43	(1.36)	4.04
PSCF	0.99	0.03	0.09	0.12	0.80	(1.24)	2.14	(1.68)	9.86
PSCM	1.13	(0.06)	0.02	0.07	1.26	(1.34)	2.41	(1.99)	10.22
PSCU	0.95	0.04	0.06	0.13	0.90	(1.08)	2.23	(1.76)	8.69

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