Invesco SP Correlations

XSHQ Etf

USD 44.85 0.64 1.45%

The current 90-days correlation between Invesco SP SmallCap and First Trust Emerging is 0.37 (i.e., Weak 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

Almost no diversification

The correlation between Invesco SP SmallCap and DJI is 0.95 (i.e., Almost no 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

0.97	VB	Vanguard Small Cap	Pair Corr
0.98	IJR	iShares Core SP	Pair Corr
0.96	IWM	iShares Russell 2000	Pair Corr
0.96	VRTIX	Vanguard Russell 2000	Pair Corr
0.96	VTWO	Vanguard Russell 2000	Pair Corr
0.98	FNDA	Schwab Fundamental Small	Pair Corr
0.98	SPSM	SPDR Portfolio SP	Pair Corr
0.98	DFAS	Dimensional Small Cap	Pair Corr
0.98	VIOO	Vanguard SP Small	Pair Corr
0.96	PRFZ	Invesco FTSE RAFI	Pair Corr
0.84	VTI	Vanguard Total Stock	Pair Corr
0.8	SPY	SPDR SP 500	Pair Corr
0.8	IVV	iShares Core SP	Pair Corr
0.68	BND	Vanguard Total Bond	Pair Corr
0.92	VTV	Vanguard Value Index	Pair Corr
0.95	VO	Vanguard Mid Cap	Pair Corr
0.88	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.77	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.91	UMAY	Innovator ETFs Trust	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.81	NCPB	Nuveen Core Plus	Pair Corr
0.86	CCNR	CoreCommodity Natural	Pair Corr
0.87	UDI	USCF ETF Trust	Pair Corr
0.82	QLV	FlexShares Quality Low	Pair Corr
0.9	FIDU	Fidelity MSCI Industrials	Pair Corr
0.86	SCDV	ETF Series Solutions	Pair Corr
0.89	XYLD	Global X SP	Pair Corr
0.88	PSFD	Pacer Swan SOS	Pair Corr
0.88	EURL	Direxion Daily FTSE	Pair Corr
0.81	IAUM	iShares Gold Trust	Pair Corr
0.85	CHPS	Xtrackers Semiconductor	Pair Corr
0.92	IQSZ	Invesco Actively Managed	Pair Corr
0.88	WDNA	WisdomTree BioRevolution	Pair Corr
0.84	XFIX	Fm Investments Symbol Change	Pair Corr
0.87	TAXT	Northern Trust Tax	Pair Corr

Related Correlations Analysis

	XSLV	XMVM	PSCT	RFV	HAWX	CNYA	UIVM	BTAL	IDLV	FEMS
XSLV		0.94	0.75	0.96	0.9	0.72	0.94	-0.6	0.93	0.86	XSLV
XMVM	0.94		0.75	0.94	0.87	0.75	0.9	-0.78	0.88	0.79	XMVM
PSCT	0.75	0.75		0.8	0.85	0.79	0.79	-0.78	0.71	0.82	PSCT
RFV	0.96	0.94	0.8		0.9	0.72	0.92	-0.7	0.89	0.86	RFV
HAWX	0.9	0.87	0.85	0.9		0.91	0.97	-0.68	0.92	0.96	HAWX
CNYA	0.72	0.75	0.79	0.72	0.91		0.83	-0.71	0.76	0.86	CNYA
UIVM	0.94	0.9	0.79	0.92	0.97	0.83		-0.61	0.98	0.93	UIVM
BTAL	-0.6	-0.78	-0.78	-0.7	-0.68	-0.71	-0.61		-0.54	-0.61	BTAL
IDLV	0.93	0.88	0.71	0.89	0.92	0.76	0.98	-0.54		0.88	IDLV
FEMS	0.86	0.79	0.82	0.86	0.96	0.86	0.93	-0.61	0.88		FEMS
	XSLV	XMVM	PSCT	RFV	HAWX	CNYA	UIVM	BTAL	IDLV	FEMS

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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

IDLV	+ 0.98	UIVM
UIVM	+ 0.97	HAWX
RFV	+ 0.96	XSLV
FEMS	+ 0.96	HAWX
XMVM	+ 0.94	XSLV
UIVM	+ 0.94	XSLV

High negative correlations

BTAL	- 0.78	PSCT
BTAL	- 0.78	XMVM
BTAL	- 0.71	CNYA
BTAL	- 0.7	RFV
BTAL	- 0.68	HAWX
FEMS	- 0.61	BTAL

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
XSLV	0.66	0.10	0.11	0.24	0.51	(0.75)	1.75	(1.12)	3.33
XMVM	0.74	0.14	0.18	0.24	0.51	(0.95)	2.17	(1.15)	4.57
PSCT	1.43	(0.05)	0.00	0.03	2.11	(1.30)	2.81	(2.95)	7.67
RFV	0.91	0.08	0.08	0.13	0.86	(1.04)	2.70	(1.74)	5.08
HAWX	0.51	0.09	0.09	0.19	0.53	(0.53)	1.11	(1.05)	3.18
CNYA	0.67	0.02	(0.02)	0.13	0.79	(0.72)	1.22	(1.29)	3.56
UIVM	0.58	0.19	0.24	0.37	0.29	(0.64)	1.44	(1.04)	2.99
BTAL	1.06	0.01	0.00	0.05	0.00	0.00	2.32	(1.99)	6.23
IDLV	0.42	0.12	0.16	0.41	0.23	(0.48)	0.85	(0.84)	2.69
FEMS	0.63	0.13	0.15	0.36	0.44	(0.74)	1.59	(0.99)	3.62

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