Invesco SP Correlations

RGI Etf

USD 55.01 0.46 0.84%

The current 90-days correlation between Invesco SP 500 and Invesco SP 500 is -0.03 (i.e., Good 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

Average diversification

The correlation between Invesco SP 500 and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP 500 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 SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Invesco Etf

0.96	XLI	Industrial Select Sector	Pair Corr
0.8	DRVN	Driven Brands Holdings	Pair Corr
0.83	ITA	iShares Aerospace Defense	Pair Corr
0.97	VIS	Vanguard Industrials	Pair Corr
0.93	JETS	US Global Jets	Pair Corr
0.96	FXR	First Trust Industri	Pair Corr
0.94	PPA	Invesco Aerospace Defense	Pair Corr
0.97	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.94	IYT	iShares Transportation Low Volatility	Pair Corr
0.96	FIDU	Fidelity MSCI Industrials	Pair Corr
0.95	UPRO	ProShares UltraPro SP500	Pair Corr
0.93	QTJA	Innovator ETFs Trust	Pair Corr
0.87	QTOC	Innovator ETFs Trust	Pair Corr
0.87	XTOC	Innovator ETFs Trust	Pair Corr
0.94	QTAP	Innovator Growth 100	Pair Corr
0.9	TSJA	TSJA	Pair Corr
0.94	XTJA	Innovator ETFs Trust	Pair Corr
0.9	DSJA	DSJA	Pair Corr
0.94	XDJA	Innovator ETFs Trust	Pair Corr
0.95	XTAP	Innovator Equity Acc	Pair Corr
0.82	HD	Home Depot Sell-off Trend	Pair Corr
0.8	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.85	HPQ	HP Inc	Pair Corr
0.96	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.87	BAC	Bank of America Aggressive Push	Pair Corr
0.81	DIS	Walt Disney Aggressive Push	Pair Corr
0.86	WMT	Walmart Aggressive Push	Pair Corr

Moving against Invesco Etf

0.84	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.82	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.79	KO	Coca Cola Sell-off Trend	Pair Corr
0.75	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.69	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	RTM	RCD	RYF	RHS	RYU
RTM		0.56	0.1	-0.05	0.64	RTM
RCD	0.56		-0.2	-0.61	0.21	RCD
RYF	0.1	-0.2		0.28	0.0	RYF
RHS	-0.05	-0.61	0.28		0.15	RHS
RYU	0.64	0.21	0.0	0.15		RYU
	RTM	RCD	RYF	RHS	RYU

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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

RYU	+ 0.64	RTM
RCD	+ 0.56	RTM
RHS	+ 0.28	RYF
RYU	+ 0.21	RCD
RYU	+ 0.15	RHS
RYF	+ 0.1	RTM

High negative correlations

RHS	- 0.61	RCD
RYF	- 0.2	RCD
RHS	- 0.05	RTM
RYU	- 0.0	RYF

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
RTM	0.76	(0.08)	(0.11)	0.02	0.89	(0.84)	1.29	(1.26)	4.84
RCD	0.70	0.16	0.06	3.26	0.55	(0.79)	1.52	(1.05)	3.36
RYF	1.32	(0.26)	0.00	(0.57)	0.00	0.00	2.34	(3.57)	6.52
RHS	0.50	(0.05)	0.00	(0.54)	0.00	0.00	0.97	(1.15)	2.47
RYU	0.80	0.00	0.00	0.12	0.00	0.00	1.47	(1.94)	5.33

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