Invesco SP Correlations

XSVM Etf

USD 55.91 0.68 1.23%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.96 (i.e., Almost no 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 SmallCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Weak diversification

The correlation between Invesco SP SmallCap and DJI is 0.31 (i.e., Weak 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.

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 real.

Moving together with Invesco Etf

0.95	VBR	Vanguard Small Cap	Pair Corr
0.99	IWN	iShares Russell 2000	Pair Corr
0.96	DFAT	Dimensional Targeted	Pair Corr
0.96	IJS	iShares SP Small	Pair Corr
0.96	SLYV	SPDR SP 600	Pair Corr
0.97	AVUV	Avantis Small Cap	Pair Corr
1.0	DES	WisdomTree SmallCap	Pair Corr
0.89	MDYV	SPDR SP 400	Pair Corr
0.96	CALF	Pacer Small Cap	Pair Corr
0.91	REGL	ProShares SP MidCap	Pair Corr
0.64	OIH	VanEck Oil Services	Pair Corr
0.86	EWC	iShares MSCI Canada	Pair Corr
0.67	IRET	iREIT MarketVector	Pair Corr
0.93	EZM	WisdomTree MidCap	Pair Corr
0.85	NIXT	Research Affiliates	Pair Corr
0.9	RFDA	RiverFront Dynamic	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.69	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.65	CVX	Chevron Corp Earnings Call Today	Pair Corr

Moving against Invesco Etf

0.62	IAUF	IShares	Pair Corr
0.37	OBIL	US Treasury 12	Pair Corr
0.62	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.51	BA	Boeing	Pair Corr
0.31	BIL	SPDR Bloomberg 1	Pair Corr

Related Correlations Analysis

	RWJ	XMVM	RZV	XMMO	CALF
RWJ		0.89	0.98	0.96	0.84	RWJ
XMVM	0.89		0.85	0.87	0.95	XMVM
RZV	0.98	0.85		0.92	0.8	RZV
XMMO	0.96	0.87	0.92		0.78	XMMO
CALF	0.84	0.95	0.8	0.78		CALF
	RWJ	XMVM	RZV	XMMO	CALF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
RWJ	0.90	0.05	0.00	0.17	1.05	(0.97)	1.81	(1.63)	10.01
XMVM	0.93	0.01	(0.03)	0.11	1.04	(1.06)	1.95	(1.54)	10.71
RZV	0.93	0.05	0.01	0.20	1.09	(1.00)	2.02	(1.68)	10.74
XMMO	0.89	0.07	0.02	0.21	1.12	(0.89)	1.75	(1.70)	8.64
CALF	0.80	(0.05)	(0.09)	0.00	0.99	(0.87)	1.60	(1.42)	9.29

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC