Invesco DWA Correlations

PSL Etf

USD 111.53 0.90 0.80%

The current 90-days correlation between Invesco DWA Consumer and Invesco DWA Consumer is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco DWA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco DWA Consumer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco DWA Correlation With Market

Very weak diversification

The correlation between Invesco DWA Consumer and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA Consumer and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco DWA Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Invesco Etf

0.62	VDC	Vanguard Consumer Staples	Pair Corr
0.62	FSTA	Fidelity MSCI Consumer	Pair Corr
0.73	PBJ	Invesco Dynamic Food	Pair Corr
0.61	HUM	Humana Inc	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.62	ACTV	LeaderShares Activist	Pair Corr
0.88	EVHY	Morgan Stanley ETF	Pair Corr
0.61	VGT	Vanguard Information	Pair Corr
0.7	COWZ	Pacer Cash Cows	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.84	QQEW	First Trust NASDAQ	Pair Corr
0.61	FTSL	First Trust Senior	Pair Corr
0.87	XITK	SPDR FactSet Innovative	Pair Corr
0.75	BTC	Grayscale Bitcoin Mini	Pair Corr
0.9	ITOT	iShares Core SP	Pair Corr
0.8	PRNT	3D Printing	Pair Corr
0.92	GAST	Gabelli ETFs Trust	Pair Corr
0.7	JEPQ	JPMorgan Nasdaq Equity Sell-off Trend	Pair Corr

Moving against Invesco Etf

0.56

FNGD

MicroSectors FANG Index

Pair Corr

Related Correlations Analysis

	PEZ	PYZ	PRN	PUI	PFI
PEZ		0.88	0.86	0.78	0.79	PEZ
PYZ	0.88		0.83	0.81	0.64	PYZ
PRN	0.86	0.83		0.9	0.87	PRN
PUI	0.78	0.81	0.9		0.83	PUI
PFI	0.79	0.64	0.87	0.83		PFI
	PEZ	PYZ	PRN	PUI	PFI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Invesco DWA Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DWA 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 DWA'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
PEZ	0.89	(0.02)	(0.04)	0.06	1.13	(1.00)	1.96	(1.45)	7.01
PYZ	0.83	(0.11)	0.00	(0.14)	0.00	0.00	1.41	(1.56)	7.27
PRN	1.20	(0.04)	(0.04)	0.02	1.87	(1.23)	2.92	(1.92)	12.95
PUI	0.83	(0.04)	(0.08)	(0.01)	1.12	(0.86)	1.99	(1.92)	5.25
PFI	1.15	0.08	0.03	0.22	1.30	(1.29)	2.48	(2.04)	12.62

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC