Invesco SP Correlations

XSLV Etf

USD 49.82 0.20 0.40%

The current 90-days correlation between Invesco SP SmallCap and First Trust Nasdaq is 0.38 (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

Very poor diversification

The correlation between Invesco SP SmallCap and DJI is 0.87 (i.e., Very 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 board of governors.

Moving together with Invesco Etf

0.9	VB	Vanguard Small Cap	Pair Corr
0.95	IJR	iShares Core SP	Pair Corr
0.87	IWM	iShares Russell 2000	Pair Corr
0.87	VRTIX	Vanguard Russell 2000	Pair Corr
0.87	VTWO	Vanguard Russell 2000	Pair Corr
0.95	FNDA	Schwab Fundamental Small	Pair Corr
0.95	SPSM	SPDR Portfolio SP	Pair Corr
0.94	DFAS	Dimensional Small Cap	Pair Corr
0.95	VIOO	Vanguard SP Small	Pair Corr
0.86	PRFZ	Invesco FTSE RAFI	Pair Corr
0.79	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.78	MULL	GraniteShares 2x Long Upward Rally	Pair Corr
0.78	JNUG	Direxion Daily Junior	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.83	KORU	Direxion Daily South Upward Rally	Pair Corr
0.79	NUGT	Direxion Daily Gold	Pair Corr
0.76	SHNY	Microsectors Gold	Pair Corr
0.84	SIL	Global X Silver	Pair Corr
0.74	SIVR	abrdn Physical Silver	Pair Corr
0.87	AHYB	American Century ETF	Pair Corr
0.9	RDIV	Invesco SP Ultra	Pair Corr
0.92	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.88	OASC	OneAscent Small Cap	Pair Corr
0.75	VBK	Vanguard Small Cap	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.87	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.82	CVX	Chevron Corp	Pair Corr
0.92	JNJ	Johnson Johnson	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.69	KO	Coca Cola Earnings Call This Week	Pair Corr

Moving against Invesco Etf

0.76

HPQ

HP Inc

Pair Corr

Related Correlations Analysis

	LST	DFVE	LTL	MARZ	PEMX	JCHI	SHRY	TOKE	FTXH
LST		0.98	0.7	0.8	0.93	0.44	0.97	0.45	0.87	LST
DFVE	0.98		0.68	0.78	0.9	0.37	0.98	0.46	0.88	DFVE
LTL	0.7	0.68		0.83	0.5	0.1	0.7	0.55	0.66	LTL
MARZ	0.8	0.78	0.83		0.64	0.48	0.74	0.42	0.63	MARZ
PEMX	0.93	0.9	0.5	0.64		0.54	0.89	0.23	0.79	PEMX
JCHI	0.44	0.37	0.1	0.48	0.54		0.36	0.05	0.07	JCHI
SHRY	0.97	0.98	0.7	0.74	0.89	0.36		0.5	0.86	SHRY
TOKE	0.45	0.46	0.55	0.42	0.23	0.05	0.5		0.36	TOKE
FTXH	0.87	0.88	0.66	0.63	0.79	0.07	0.86	0.36		FTXH
	LST	DFVE	LTL	MARZ	PEMX	JCHI	SHRY	TOKE	FTXH

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
LST	0.68	0.07	0.06	0.16	0.70	(0.77)	1.33	(1.26)	3.41
DFVE	0.64	0.07	0.09	0.16	0.53	(0.75)	1.83	(1.32)	3.68
LTL	1.26	0.01	0.00	0.10	1.34	(1.48)	2.34	(2.52)	8.66
MARZ	0.49	(0.04)	(0.09)	0.02	0.68	(0.48)	1.03	(1.05)	3.23
PEMX	0.75	0.19	0.19	0.35	0.59	(0.89)	2.30	(1.33)	4.15
JCHI	0.68	(0.04)	(0.10)	0.00	0.78	(0.76)	1.22	(1.31)	4.63
SHRY	0.60	0.06	0.05	0.16	0.50	(0.68)	1.34	(0.96)	3.46
TOKE	1.95	0.06	(0.01)	0.49	2.23	(2.46)	5.71	(3.17)	29.19
FTXH	0.85	0.16	0.18	0.34	0.53	(1.09)	2.01	(1.24)	4.73

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