Invesco DWA Correlations

PSL Etf

USD 107.56 1.82 1.72%

The current 90-days correlation between Invesco DWA Consumer and Invesco DWA Consumer is 0.59 (i.e., Very weak 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

Poor diversification

The correlation between Invesco DWA Consumer and DJI is 0.6 (i.e., Poor 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

0.67	MAPP	Harbor ETF Trust	Pair Corr
0.76	EVUS	iShares ESG Aware	Pair Corr
0.87	EOS	Eaton Vance Enhanced	Pair Corr
0.94	VBK	Vanguard Small Cap	Pair Corr
0.85	SPY	SPDR SP 500	Pair Corr
0.81	PPA	Invesco Aerospace Defense	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.82	DIS	Walt Disney Aggressive Push	Pair Corr
0.84	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.7	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.77	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.64	T	ATT Inc Aggressive Push	Pair Corr

Moving against Invesco Etf

0.91	BITI	ProShares Trust	Pair Corr
0.75	KXI	iShares Global Consumer	Pair Corr
0.74	RHS	Invesco SP 500	Pair Corr
0.73	FTXG	First Trust Nasdaq	Pair Corr
0.67	HART	IQ Healthy Hearts	Pair Corr
0.62	IYK	iShares Consumer Staples	Pair Corr
0.55	XLP	Consumer Staples Select	Pair Corr
0.54	GREI	Goldman Sachs Future	Pair Corr
0.79	KO	Coca Cola Aggressive Push	Pair Corr
0.76	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.49	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PEZ	PYZ	PRN	PUI	PFI
PEZ		0.95	0.92	0.83	0.87	PEZ
PYZ	0.95		0.86	0.82	0.78	PYZ
PRN	0.92	0.86		0.85	0.97	PRN
PUI	0.83	0.82	0.85		0.8	PUI
PFI	0.87	0.78	0.97	0.8		PFI
	PEZ	PYZ	PRN	PUI	PFI

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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	1.00	0.05	0.05	0.13	1.03	(1.06)	2.05	(1.79)	7.03
PYZ	0.91	0.01	0.03	0.10	0.98	(1.00)	2.39	(1.76)	6.50
PRN	1.01	0.17	0.17	0.20	0.91	(1.12)	2.64	(1.57)	7.46
PUI	0.69	0.13	0.09	0.44	0.62	(0.76)	1.68	(1.19)	4.12
PFI	0.98	0.09	0.13	0.14	0.93	(1.10)	2.16	(1.75)	9.43

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