Invesco SP Correlations

RTM Etf

USD 36.55 0.01 0.03%

The current 90-days correlation between Invesco SP 500 and FlexShares Morningstar Global is 0.73 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Poor diversification

The correlation between Invesco SP 500 and DJI is 0.64 (i.e., Poor 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 estimate.

Moving together with Invesco Etf

0.72	EV	Mast Global Battery	Pair Corr
0.97	XLB	Materials Select Sector Sell-off Trend	Pair Corr
0.94	VAW	Vanguard Materials Index	Pair Corr
0.66	XME	SPDR SP Metals	Pair Corr
0.74	PHO	Invesco Water Resources	Pair Corr
0.97	FXZ	First Trust Materials	Pair Corr
0.78	FIW	First Trust Water	Pair Corr
0.75	URNM	Sprott Uranium Miners	Pair Corr
0.97	IYM	iShares Basic Materials	Pair Corr
0.79	ITDD	iShares Trust	Pair Corr
0.7	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.69	HD	Home Depot Sell-off Trend	Pair Corr

Related Correlations Analysis

	GUNR	ONEY	QEFA	DFIGX
GUNR		0.08	0.54	0.16	GUNR
ONEY	0.08		-0.59	-0.65	ONEY
QEFA	0.54	-0.59		0.82	QEFA
DFIGX	0.16	-0.65	0.82		DFIGX
	GUNR	ONEY	QEFA	DFIGX

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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

DFIGX	+ 0.82	QEFA
QEFA	+ 0.54	GUNR
DFIGX	+ 0.16	GUNR
ONEY	+ 0.08	GUNR

High negative correlations

DFIGX	- 0.65	ONEY
QEFA	- 0.59	ONEY

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
GUNR	0.70	(0.10)	0.00	(0.15)	0.00	0.00	1.40	(1.67)	4.07
ONEY	0.53	0.00	(0.06)	0.12	0.43	(0.63)	1.02	(0.93)	3.12
QEFA	0.59	(0.15)	0.00	(0.28)	0.00	0.00	0.98	(1.42)	3.61
DFIGX	0.23	(0.04)	0.00	(0.64)	0.00	0.00	0.46	(0.54)	1.35

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