Invesco SP Correlations

PSCI Etf

USD 152.45 2.37 1.58%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.75 (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 0.79 (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

0.87	XLI	Industrial Select Sector	Pair Corr
0.88	VIS	Vanguard Industrials	Pair Corr
0.81	JETS	US Global Jets	Pair Corr
0.97	FXR	First Trust Industri	Pair Corr
0.91	IYJ	iShares Industrials ETF	Pair Corr
0.8	IYT	iShares Transportation	Pair Corr
0.87	FIDU	Fidelity MSCI Industrials	Pair Corr
0.79	ITDD	iShares Trust	Pair Corr
0.8	CPST	Calamos ETF Trust	Pair Corr
0.95	ITWO	Proshares Russell 2000	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.61	BAC	Bank of America	Pair Corr

Moving against Invesco Etf

0.38	T	ATT Inc	Pair Corr
0.37	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PSCH	XTN	QLV	EVUS	SVAL	UOCT	ELCV	XHE	XBJL	AVDS
PSCH		0.86	0.74	0.82	0.9	0.78	0.52	0.96	0.84	0.75	PSCH
XTN	0.86		0.62	0.9	0.95	0.83	0.58	0.82	0.88	0.89	XTN
QLV	0.74	0.62		0.83	0.72	0.74	0.74	0.68	0.74	0.78	QLV
EVUS	0.82	0.9	0.83		0.93	0.91	0.77	0.77	0.92	0.95	EVUS
SVAL	0.9	0.95	0.72	0.93		0.85	0.62	0.86	0.9	0.89	SVAL
UOCT	0.78	0.83	0.74	0.91	0.85		0.65	0.74	0.97	0.87	UOCT
ELCV	0.52	0.58	0.74	0.77	0.62	0.65		0.4	0.57	0.69	ELCV
XHE	0.96	0.82	0.68	0.77	0.86	0.74	0.4		0.83	0.71	XHE
XBJL	0.84	0.88	0.74	0.92	0.9	0.97	0.57	0.83		0.9	XBJL
AVDS	0.75	0.89	0.78	0.95	0.89	0.87	0.69	0.71	0.9		AVDS
	PSCH	XTN	QLV	EVUS	SVAL	UOCT	ELCV	XHE	XBJL	AVDS

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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
PSCH	0.90	0.01	0.02	0.06	0.94	(1.08)	2.40	(1.87)	6.59
XTN	1.13	0.08	0.07	0.11	1.19	(1.22)	2.72	(2.00)	5.25
QLV	0.38	(0.04)	(0.13)	(0.01)	0.46	(0.40)	0.77	(0.75)	1.93
EVUS	0.51	(0.01)	(0.03)	0.04	0.62	(0.50)	1.01	(1.01)	2.28
SVAL	0.78	(0.01)	0.00	0.05	0.91	(0.89)	1.86	(1.46)	4.50
UOCT	0.27	(0.01)	(0.09)	0.04	0.36	(0.26)	0.44	(0.65)	1.58
ELCV	0.56	(0.03)	(0.05)	0.02	0.81	(0.55)	1.13	(1.20)	3.52
XHE	0.90	0.10	0.11	0.15	0.79	(1.12)	2.41	(1.20)	6.02
XBJL	0.22	0.00	(0.09)	0.07	0.23	(0.21)	0.51	(0.40)	1.31
AVDS	0.60	0.03	0.02	0.09	0.68	(0.61)	1.28	(1.31)	2.91

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