Invesco SP Correlations

PSCT Etf

USD 57.88 1.27 2.24%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP MidCap is 0.5 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco SP Correlation With Market

Poor diversification

The correlation between Invesco SP SmallCap and DJI is 0.71 (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

0.66	VGT	Vanguard Information	Pair Corr
0.74	XLK	Technology Select Sector	Pair Corr
0.72	IYW	iShares Technology ETF	Pair Corr
0.85	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SOXX	iShares Semiconductor ETF	Pair Corr
0.67	FTEC	Fidelity MSCI Information	Pair Corr
0.8	IGM	iShares Expanded Tech	Pair Corr
0.77	ITDD	iShares Trust	Pair Corr
0.68	CPST	Calamos ETF Trust	Pair Corr
0.61	ITWO	Proshares Russell 2000	Pair Corr
0.78	AXP	American Express	Pair Corr
0.73	BAC	Bank of America	Pair Corr
0.76	CAT	Caterpillar	Pair Corr

Moving against Invesco Etf

0.66	T	ATT Inc	Pair Corr
0.56	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	XMVM	XSHQ	IDLV	XJH	RSPF	JULW	HEQT	VSLU	CLOU	BKCH
XMVM		0.66	0.83	0.91	0.87	0.85	0.75	0.67	-0.36	-0.66	XMVM
XSHQ	0.66		0.58	0.84	0.82	0.58	0.48	0.5	0.16	-0.03	XSHQ
IDLV	0.83	0.58		0.82	0.72	0.87	0.8	0.7	-0.34	-0.7	IDLV
XJH	0.91	0.84	0.82		0.87	0.9	0.83	0.8	-0.06	-0.39	XJH
RSPF	0.87	0.82	0.72	0.87		0.71	0.57	0.52	-0.12	-0.35	RSPF
JULW	0.85	0.58	0.87	0.9	0.71		0.97	0.92	-0.12	-0.54	JULW
HEQT	0.75	0.48	0.8	0.83	0.57	0.97		0.94	-0.04	-0.49	HEQT
VSLU	0.67	0.5	0.7	0.8	0.52	0.92	0.94		0.06	-0.38	VSLU
CLOU	-0.36	0.16	-0.34	-0.06	-0.12	-0.12	-0.04	0.06		0.71	CLOU
BKCH	-0.66	-0.03	-0.7	-0.39	-0.35	-0.54	-0.49	-0.38	0.71		BKCH
	XMVM	XSHQ	IDLV	XJH	RSPF	JULW	HEQT	VSLU	CLOU	BKCH

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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

HEQT	+ 0.97	JULW
VSLU	+ 0.94	HEQT
VSLU	+ 0.92	JULW
XJH	+ 0.91	XMVM
JULW	+ 0.9	XJH
RSPF	+ 0.87	XMVM

High negative correlations

BKCH	- 0.7	IDLV
BKCH	- 0.66	XMVM
BKCH	- 0.54	JULW
BKCH	- 0.49	HEQT
BKCH	- 0.39	XJH
BKCH	- 0.38	VSLU

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
XMVM	0.70	0.02	0.02	0.08	0.86	(0.85)	1.83	(1.14)	4.96
XSHQ	0.81	(0.08)	0.00	(0.01)	0.00	0.00	2.01	(1.65)	4.54
IDLV	0.40	0.02	(0.02)	0.10	0.44	(0.42)	0.73	(0.84)	2.51
XJH	0.78	(0.02)	(0.01)	0.04	1.03	(0.75)	1.95	(1.70)	3.82
RSPF	0.67	(0.04)	(0.04)	0.01	1.02	(0.67)	1.34	(2.20)	4.37
JULW	0.18	0.00	(0.14)	0.07	0.17	(0.19)	0.37	(0.34)	1.10
HEQT	0.30	0.01	(0.05)	0.07	0.34	(0.32)	0.66	(0.66)	1.88
VSLU	0.63	(0.01)	(0.02)	0.05	0.82	(0.68)	1.38	(1.06)	5.22
CLOU	1.06	(0.14)	0.00	(0.07)	0.00	0.00	1.86	(2.58)	5.70
BKCH	4.04	(0.33)	0.00	(0.05)	0.00	0.00	8.17	(8.26)	21.79

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