Invesco SP Correlations

PSCT Etf

USD 61.48 1.42 2.26%

The current 90-days correlation between Invesco SP SmallCap and Global X Blockchain is 0.64 (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. 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 0.79 (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 unemployment.

Moving together with Invesco Etf

0.86	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	SOXX	iShares Semiconductor ETF	Pair Corr
0.81	TOT	Advisor Managed Port	Pair Corr
0.79	INTL	Main International ETF	Pair Corr
0.7	EMC	Global X Funds	Pair Corr
0.62	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.68	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.76	INTC	Intel Earnings Call This Week	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr

Moving against Invesco Etf

0.66	VXX	iPath Series B	Pair Corr
0.55	NFLX	Netflix	Pair Corr
0.68	T	ATT Inc Earnings Call This Week	Pair Corr
0.36	HPQ	HP Inc	Pair Corr
0.34	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	XMVM	XSHQ	IDLV	XJH	RSPF	JULW	HEQT	VSLU	CLOU	BKCH
XMVM		0.82	0.9	0.92	0.93	0.91	0.87	0.7	-0.6	-0.57	XMVM
XSHQ	0.82		0.81	0.93	0.83	0.84	0.81	0.68	-0.38	-0.11	XSHQ
IDLV	0.9	0.81		0.89	0.9	0.91	0.87	0.68	-0.6	-0.53	IDLV
XJH	0.92	0.93	0.89		0.88	0.96	0.94	0.76	-0.55	-0.27	XJH
RSPF	0.93	0.83	0.9	0.88		0.91	0.88	0.76	-0.37	-0.44	RSPF
JULW	0.91	0.84	0.91	0.96	0.91		0.99	0.85	-0.48	-0.34	JULW
HEQT	0.87	0.81	0.87	0.94	0.88	0.99		0.89	-0.4	-0.27	HEQT
VSLU	0.7	0.68	0.68	0.76	0.76	0.85	0.89		-0.12	-0.13	VSLU
CLOU	-0.6	-0.38	-0.6	-0.55	-0.37	-0.48	-0.4	-0.12		0.61	CLOU
BKCH	-0.57	-0.11	-0.53	-0.27	-0.44	-0.34	-0.27	-0.13	0.61		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	+ 0.99	JULW
JULW	+ 0.96	XJH
HEQT	+ 0.94	XJH
RSPF	+ 0.93	XMVM
XJH	+ 0.93	XSHQ
XJH	+ 0.92	XMVM

High negative correlations

CLOU	- 0.6	IDLV
CLOU	- 0.6	XMVM
BKCH	- 0.57	XMVM
CLOU	- 0.55	XJH
BKCH	- 0.53	IDLV
CLOU	- 0.48	JULW

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	0.67	0.09	0.10	0.17	0.53	(0.88)	2.17	(1.14)	4.22
XSHQ	0.80	(0.03)	(0.02)	0.04	0.90	(0.91)	2.15	(1.60)	4.54
IDLV	0.40	0.03	(0.02)	0.14	0.43	(0.43)	0.73	(0.87)	2.69
XJH	0.77	0.03	0.03	0.09	0.84	(0.80)	1.95	(1.58)	3.83
RSPF	0.69	(0.02)	(0.03)	0.05	0.87	(0.75)	1.46	(1.36)	4.56
JULW	0.16	0.01	(0.18)	0.09	0.14	(0.17)	0.37	(0.34)	1.23
HEQT	0.29	0.01	(0.07)	0.10	0.31	(0.31)	0.59	(0.66)	2.14
VSLU	0.62	(0.02)	(0.04)	0.04	0.86	(0.63)	1.38	(1.06)	5.22
CLOU	1.08	(0.21)	0.00	(0.15)	0.00	0.00	1.76	(2.64)	5.25
BKCH	3.78	(0.57)	0.00	(0.16)	0.00	0.00	8.25	(7.98)	21.79

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