Invesco SP Correlations

PSCD Etf

USD 109.19 0.00 0.00%

The current 90-days correlation between Invesco SP SmallCap and EA Series Trust is -0.02 (i.e., Good 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

Very poor diversification

The correlation between Invesco SP SmallCap and DJI is 0.86 (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.

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 unemployment.

Moving together with Invesco Etf

0.8	XLY	Consumer Discretionary Sell-off Trend	Pair Corr
0.83	VCR	Vanguard Consumer	Pair Corr
0.82	ITB	iShares Home Construction	Pair Corr
0.83	FDIS	Fidelity MSCI Consumer	Pair Corr
0.87	XHB	SPDR SP Homebuilders	Pair Corr
0.86	IYC	iShares Consumer Dis	Pair Corr
0.79	PEJ	Invesco Dynamic Leisure	Pair Corr
0.88	FXD	First Trust Consumer	Pair Corr
0.9	XRT	SPDR SP Retail Sell-off Trend	Pair Corr
0.7	UPRO	ProShares UltraPro SP500	Pair Corr
0.81	QTJA	Innovator ETFs Trust	Pair Corr
0.78	QTOC	Innovator ETFs Trust	Pair Corr
0.85	XTOC	Innovator ETFs Trust	Pair Corr
0.85	QTAP	Innovator Growth 100	Pair Corr
0.82	XTJA	Innovator ETFs Trust	Pair Corr
0.83	XTAP	Innovator Equity Acc	Pair Corr
0.72	HLAL	Wahed FTSE USA	Pair Corr
0.85	TAXT	Northern Trust Tax	Pair Corr
0.75	FMF	First Trust Managed	Pair Corr
0.94	FNX	First Trust Mid	Pair Corr
0.71	AGQ	ProShares Ultra Silver	Pair Corr
0.83	DISV	Dimensional ETF Trust	Pair Corr
0.79	FDRR	Fidelity Dividend ETF	Pair Corr
0.67	KORU	Direxion Daily South	Pair Corr
0.81	FLXR	TCW ETF Trust	Pair Corr
0.84	DMAY	First Trust Exchange	Pair Corr
0.73	GDXU	MicroSectors Gold Miners	Pair Corr

Moving against Invesco Etf

0.64

RCD

Ready Capital

Pair Corr

Related Correlations Analysis

	EWK	FPWR	STXI	DIEM	COPJ	AVNV	PSCF	AAVM	FORH	STXM
EWK		0.47	0.9	0.9	0.94	0.95	0.81	0.94	0.39	0.88	EWK
FPWR	0.47		0.21	0.45	0.29	0.32	0.03	0.31	0.19	0.28	FPWR
STXI	0.9	0.21		0.91	0.96	0.98	0.83	0.98	0.45	0.95	STXI
DIEM	0.9	0.45	0.91		0.92	0.94	0.65	0.93	0.44	0.89	DIEM
COPJ	0.94	0.29	0.96	0.92		0.99	0.85	0.98	0.37	0.93	COPJ
AVNV	0.95	0.32	0.98	0.94	0.99		0.83	0.99	0.41	0.94	AVNV
PSCF	0.81	0.03	0.83	0.65	0.85	0.83		0.84	0.34	0.84	PSCF
AAVM	0.94	0.31	0.98	0.93	0.98	0.99	0.84		0.4	0.96	AAVM
FORH	0.39	0.19	0.45	0.44	0.37	0.41	0.34	0.4		0.56	FORH
STXM	0.88	0.28	0.95	0.89	0.93	0.94	0.84	0.96	0.56		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	0.52	0.12	0.14	0.34	0.38	(0.58)	1.05	(0.96)	3.12
FPWR	0.49	0.05	(0.01)	(2.70)	0.54	(0.53)	0.96	(0.98)	2.67
STXI	0.59	0.11	0.09	0.67	0.55	(0.62)	1.24	(1.21)	2.89
DIEM	0.54	0.17	0.20	0.94	0.37	(0.63)	1.40	(1.14)	2.70
COPJ	1.65	0.69	0.42	0.54	1.17	(2.12)	4.43	(2.96)	7.93
AVNV	0.53	0.18	0.22	1.38	0.28	(0.59)	1.11	(0.89)	2.98
PSCF	0.73	0.04	0.04	0.09	0.85	(0.85)	2.08	(1.70)	4.96
AAVM	0.58	0.18	0.19	1.04	0.38	(0.66)	1.28	(1.09)	2.71
FORH	0.78	(0.11)	0.00	(0.44)	0.00	0.00	1.39	(2.10)	4.37
STXM	0.76	0.09	0.05	0.40	0.81	(0.82)	1.58	(1.47)	3.63

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