Invesco SP Correlations

RSPU Etf

71.37 0.02 0.03%

The current 90-days correlation between Invesco SP 500 and Utilities Select Sector is 0.98 (i.e., Almost no 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

Average diversification

The correlation between Invesco SP 500 and DJI is 0.16 (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 american community survey.

Moving together with Invesco Etf

0.97	XLU	Utilities Select Sector Aggressive Push	Pair Corr
0.98	VPU	Vanguard Utilities Index	Pair Corr
0.98	FUTY	Fidelity MSCI Utilities	Pair Corr
0.98	IDU	iShares Utilities ETF	Pair Corr
0.97	FXU	First Trust Utilities	Pair Corr
0.67	JXI	iShares Global Utilities	Pair Corr
0.61	MLPR	ETRACS Quarterly Pay	Pair Corr
0.67	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.63	AMZA	InfraCap MLP ETF	Pair Corr
0.63	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.77	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.76	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.79	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.81	T	ATT Inc Aggressive Push	Pair Corr
0.72	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.67	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.7	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.62	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.67	HPQ	HP Inc	Pair Corr

Moving against Invesco Etf

0.71	NRGU	Bank Of Montreal	Pair Corr
0.53	RNRG	Global X Renewable	Pair Corr
0.53	YLCO	Global X YieldCo	Pair Corr
0.56	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.5	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	XLU	VPU	AMPS	FUTY	IDU	FXU	JXI	RNRG
XLU		1.0	0.46	1.0	0.99	0.89	0.82	-0.36	XLU
VPU	1.0		0.49	1.0	1.0	0.9	0.8	-0.38	VPU
AMPS	0.46	0.49		0.49	0.52	0.67	0.07	-0.64	AMPS
FUTY	1.0	1.0	0.49		1.0	0.9	0.8	-0.38	FUTY
IDU	0.99	1.0	0.52	1.0		0.93	0.75	-0.45	IDU
FXU	0.89	0.9	0.67	0.9	0.93		0.48	-0.7	FXU
JXI	0.82	0.8	0.07	0.8	0.75	0.48		0.23	JXI
RNRG	-0.36	-0.38	-0.64	-0.38	-0.45	-0.7	0.23		RNRG
	XLU	VPU	AMPS	FUTY	IDU	FXU	JXI	RNRG

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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

VPU	+ 1.0	XLU
FUTY	+ 1.0	XLU
FUTY	+ 1.0	VPU
IDU	+ 1.0	VPU
IDU	+ 1.0	FUTY
IDU	+ 0.99	XLU

High negative correlations

RNRG	- 0.7	FXU
RNRG	- 0.64	AMPS
RNRG	- 0.45	IDU
RNRG	- 0.38	FUTY
RNRG	- 0.38	VPU
RNRG	- 0.36	XLU

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
XLU	0.79	0.12	0.02	0.73	0.83	(0.87)	1.74	(1.48)	4.95
VPU	0.77	0.11	0.02	0.62	0.77	(0.88)	1.70	(1.40)	4.65
AMPS	4.20	0.54	0.11	0.63	4.40	(4.99)	9.97	(8.53)	37.65
FUTY	0.76	0.11	0.02	0.64	0.77	(0.88)	1.64	(1.40)	4.64
IDU	0.73	0.11	0.02	0.58	0.73	(0.77)	1.68	(1.40)	4.41
FXU	0.72	0.16	0.09	0.59	0.60	(0.82)	1.66	(1.31)	4.50
JXI	0.64	0.05	(0.07)	0.50	0.82	(0.66)	1.28	(1.58)	3.82
RNRG	0.91	(0.18)	0.00	1.13	0.00	0.00	1.54	(1.92)	8.31

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