Invesco SP Correlations

EQWL Etf

USD 104.18 0.68 0.66%

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 100 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Very poor diversification

The correlation between Invesco SP 100 and DJI is 0.84 (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 100 and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco SP 100. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Invesco Etf

0.88	VTV	Vanguard Value Index	Pair Corr
0.86	VYM	Vanguard High Dividend	Pair Corr
0.84	IWD	iShares Russell 1000	Pair Corr
0.91	DGRO	iShares Core Dividend	Pair Corr
0.83	IVE	iShares SP 500	Pair Corr
0.82	DVY	iShares Select Dividend	Pair Corr
0.82	SPYV	SPDR Portfolio SP	Pair Corr
0.73	FVD	First Trust Value	Pair Corr
0.81	IUSV	iShares Core SP	Pair Corr
0.74	NOBL	ProShares SP 500	Pair Corr
0.64	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.71	XTAP	Innovator Equity Acc	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.63	IBM	International Business	Pair Corr

Moving against Invesco Etf

0.67

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	EWMC	EQAL	EQL	EUSA	EWRE
EWMC		0.0	0.0	0.0	0.0	EWMC
EQAL	0.0		0.85	0.99	0.0	EQAL
EQL	0.0	0.85		0.87	0.0	EQL
EUSA	0.0	0.99	0.87		0.0	EUSA
EWRE	0.0	0.0	0.0	0.0		EWRE
	EWMC	EQAL	EQL	EUSA	EWRE

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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

EUSA	+ 0.99	EQAL
EUSA	+ 0.87	EQL
EQL	+ 0.85	EQAL
EQAL	+ 0.0	EWMC
EQL	+ 0.0	EWMC
EUSA	+ 0.0	EWMC

High negative correlations

EWRE	- 0.0	EUSA
EWRE	- 0.0	EQL
EWRE	- 0.0	EQAL
EWRE	- 0.0	EWMC
EUSA	- 0.0	EWMC
EQL	- 0.0	EWMC

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
EWMC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EQAL	0.68	0.03	0.00	(0.04)	0.00	0.00	1.19	(1.60)	2.91
EQL	0.59	(0.01)	0.09	0.10	0.73	(0.62)	1.11	(1.25)	3.03
EUSA	0.66	(0.04)	0.00	(24.91)	0.00	0.00	1.23	(1.45)	3.01
EWRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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