Invesco SP Correlations

XSHD Etf

USD 13.72 0.14 1.01%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP 500 is 0.24 (i.e., Modest 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

Poor diversification

The correlation between Invesco SP SmallCap and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP SmallCap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Invesco SP SmallCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Invesco Etf

0.96	VBR	Vanguard Small Cap	Pair Corr
0.97	IWN	iShares Russell 2000	Pair Corr
0.96	DFAT	Dimensional Targeted	Pair Corr
0.97	IJS	iShares SP Small	Pair Corr
0.97	SLYV	SPDR SP 600	Pair Corr
0.95	AVUV	Avantis Small Cap	Pair Corr
0.96	DES	WisdomTree SmallCap	Pair Corr
0.94	MDYV	SPDR SP 400	Pair Corr
0.78	CALF	Pacer Small Cap	Pair Corr
0.96	REGL	ProShares SP MidCap Low Volatility	Pair Corr
0.91	OIH	VanEck Oil Services	Pair Corr
0.82	WTMF	WisdomTree Managed	Pair Corr
0.66	BST	BlackRock Science Tech	Pair Corr
0.69	VBK	Vanguard Small Cap	Pair Corr
0.91	BINC	BlackRock ETF Trust	Pair Corr
0.87	OASC	OneAscent Small Cap	Pair Corr
0.67	RDIV	Invesco SP Ultra	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.63	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.74	BA	Boeing	Pair Corr

Moving against Invesco Etf

0.54	ARKW	ARK Next Generation	Pair Corr
0.61	MSFT	Microsoft	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.38	MMM	3M Company	Pair Corr
0.37	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	SPVM	FKU	SPDV	FLMX	QAT	MVPA	KEMX	DIG	FGM	RSPC
SPVM		0.94	0.95	0.9	0.8	0.62	0.87	0.64	0.93	0.23	SPVM
FKU	0.94		0.94	0.95	0.88	0.6	0.95	0.67	0.98	0.2	FKU
SPDV	0.95	0.94		0.95	0.9	0.54	0.95	0.77	0.95	0.04	SPDV
FLMX	0.9	0.95	0.95		0.91	0.45	0.97	0.8	0.95	-0.04	FLMX
QAT	0.8	0.88	0.9	0.91		0.44	0.95	0.83	0.92	-0.04	QAT
MVPA	0.62	0.6	0.54	0.45	0.44		0.45	0.08	0.59	0.7	MVPA
KEMX	0.87	0.95	0.95	0.97	0.95	0.45		0.8	0.96	-0.04	KEMX
DIG	0.64	0.67	0.77	0.8	0.83	0.08	0.8		0.71	-0.33	DIG
FGM	0.93	0.98	0.95	0.95	0.92	0.59	0.96	0.71		0.17	FGM
RSPC	0.23	0.2	0.04	-0.04	-0.04	0.7	-0.04	-0.33	0.17		RSPC
	SPVM	FKU	SPDV	FLMX	QAT	MVPA	KEMX	DIG	FGM	RSPC

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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

FGM	+ 0.98	FKU
KEMX	+ 0.97	FLMX
FGM	+ 0.96	KEMX
SPDV	+ 0.95	SPVM
FLMX	+ 0.95	FKU
KEMX	+ 0.95	FKU

High negative correlations

RSPC	- 0.33	DIG
RSPC	- 0.04	KEMX
RSPC	- 0.04	QAT
RSPC	- 0.04	FLMX

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
SPVM	0.58	0.16	0.09	(0.90)	0.41	(0.73)	1.43	(1.03)	3.00
FKU	0.72	0.22	0.13	(8.19)	0.72	(0.82)	1.61	(1.20)	4.95
SPDV	0.63	0.19	0.10	(0.89)	0.47	(0.67)	1.82	(1.02)	3.60
FLMX	0.96	0.28	0.15	6.55	0.92	(1.15)	1.99	(1.77)	6.74
QAT	0.57	0.04	(0.04)	0.43	0.78	(0.55)	1.28	(1.55)	3.08
MVPA	0.87	0.06	(0.04)	(0.18)	1.06	(0.98)	2.29	(2.27)	5.73
KEMX	0.79	0.29	0.23	(2.33)	0.51	(0.97)	2.24	(1.41)	4.10
DIG	2.20	0.49	0.17	1.00	2.26	(2.45)	4.85	(3.70)	11.11
FGM	0.77	0.22	0.13	1.46	0.86	(0.84)	1.81	(1.73)	4.72
RSPC	0.55	(0.03)	0.00	0.53	0.00	0.00	0.92	(1.23)	3.94

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