Invesco SP Correlations

PSCF Etf

USD 58.97 0.44 0.75%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.54 (i.e., Very weak 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 0.67 (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.

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 manufacturing.

Moving together with Invesco Etf

0.92	XLF	Financial Select Sector	Pair Corr
0.94	VFH	Vanguard Financials Index	Pair Corr
0.97	KRE	SPDR SP Regional	Pair Corr
0.98	KBE	SPDR SP Bank	Pair Corr
0.93	IYF	iShares Financials ETF	Pair Corr
0.93	FNCL	Fidelity MSCI Financials	Pair Corr
0.91	IYG	iShares Financial	Pair Corr
0.89	FXO	First Trust Financials	Pair Corr
0.96	IAT	iShares Regional Banks	Pair Corr
0.91	IXG	iShares Global Financials	Pair Corr
0.81	LENS	Sarmaya Thematic ETF	Pair Corr
0.84	ASA	ASA Gold	Pair Corr
0.65	MAPP	Harbor ETF Trust	Pair Corr
0.63	WNTR	YieldMax MSTR Short	Pair Corr
0.92	SNPD	DBX ETF Trust	Pair Corr
0.64	AXP	American Express	Pair Corr
0.71	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.75	MRK	Merck Company	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.82	WMT	Walmart Common Stock	Pair Corr
0.72	BAC	Bank of America Earnings Call This Week	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr

Moving against Invesco Etf

0.77	SWIN	Alps Symbol Change	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.45	HPQ	HP Inc	Pair Corr
0.37	HD	Home Depot	Pair Corr

Related Correlations Analysis

	PSCU	EWK	FLN	FTXG	BYRE	PSCD	STXI	CAFG	DIEM	SAMM
PSCU		-0.31	-0.16	-0.28	0.5	0.13	-0.03	0.35	0.26	0.2	PSCU
EWK	-0.31		0.69	0.34	-0.14	0.28	0.79	0.43	0.56	0.6	EWK
FLN	-0.16	0.69		-0.18	-0.45	-0.22	0.69	0.22	0.71	0.71	FLN
FTXG	-0.28	0.34	-0.18		0.34	0.55	-0.05	0.08	-0.4	-0.17	FTXG
BYRE	0.5	-0.14	-0.45	0.34		0.37	-0.25	0.23	-0.1	-0.23	BYRE
PSCD	0.13	0.28	-0.22	0.55	0.37		0.37	0.74	0.04	0.28	PSCD
STXI	-0.03	0.79	0.69	-0.05	-0.25	0.37		0.72	0.8	0.86	STXI
CAFG	0.35	0.43	0.22	0.08	0.23	0.74	0.72		0.58	0.71	CAFG
DIEM	0.26	0.56	0.71	-0.4	-0.1	0.04	0.8	0.58		0.84	DIEM
SAMM	0.2	0.6	0.71	-0.17	-0.23	0.28	0.86	0.71	0.84		SAMM
	PSCU	EWK	FLN	FTXG	BYRE	PSCD	STXI	CAFG	DIEM	SAMM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SAMM	+ 0.86	STXI
SAMM	+ 0.84	DIEM
DIEM	+ 0.8	STXI
STXI	+ 0.79	EWK
CAFG	+ 0.74	PSCD
CAFG	+ 0.72	STXI

High negative correlations

BYRE	- 0.45	FLN
DIEM	- 0.4	FTXG
EWK	- 0.31	PSCU
FTXG	- 0.28	PSCU
STXI	- 0.25	BYRE
SAMM	- 0.23	BYRE

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
PSCU	0.78	(0.06)	(0.09)	0.01	0.87	(0.88)	1.65	(1.71)	4.07
EWK	0.48	0.02	(0.05)	0.13	0.47	(0.53)	1.05	(0.95)	2.87
FLN	0.91	0.13	0.07	0.28	1.11	(1.00)	2.18	(2.11)	6.27
FTXG	0.56	(0.06)	0.00	(0.25)	0.00	0.00	1.28	(1.07)	4.24
BYRE	0.53	(0.05)	0.00	(0.05)	0.00	0.00	0.95	(1.12)	3.54
PSCD	1.12	(0.16)	0.00	(0.02)	0.00	0.00	2.39	(2.53)	8.03
STXI	0.60	0.02	0.01	0.11	0.69	(0.62)	1.19	(1.21)	3.37
CAFG	0.82	(0.07)	(0.05)	0.03	1.07	(0.86)	1.52	(1.62)	3.78
DIEM	0.61	0.05	0.03	0.15	0.81	(0.64)	1.36	(1.20)	4.38
SAMM	0.89	0.01	0.02	0.09	1.12	(0.93)	1.70	(2.20)	5.29

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