Invesco DWA Correlations

PEZ Etf

USD 97.86 1.46 1.51%

The current 90-days correlation between Invesco DWA Consumer and Invesco DWA Consumer is 0.71 (i.e., Poor diversification). The correlation of Invesco DWA 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 DWA Correlation With Market

Very weak diversification

The correlation between Invesco DWA Consumer and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA Consumer and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco DWA Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Invesco Etf

0.81	ITB	iShares Home Construction	Pair Corr
0.83	XHB	SPDR SP Homebuilders	Pair Corr
0.9	FXD	First Trust Consumer	Pair Corr
0.74	RCD	Invesco SP 500	Pair Corr
0.7	XRT	SPDR SP Retail	Pair Corr
0.65	WTMF	WisdomTree Managed	Pair Corr
0.84	EWC	iShares MSCI Canada	Pair Corr
0.83	IRET	iREIT MarketVector	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.7	XOM	Exxon Mobil Corp	Pair Corr
0.64	BAC	Bank of America Aggressive Push	Pair Corr
0.67	HPQ	HP Inc	Pair Corr

Moving against Invesco Etf

0.61	PFE	Pfizer Inc	Pair Corr
0.55	BA	Boeing	Pair Corr

Related Correlations Analysis

	PSL	PRN	PYZ	PFI	PUI
PSL		0.09	0.48	0.75	0.63	PSL
PRN	0.09		0.85	0.65	0.47	PRN
PYZ	0.48	0.85		0.83	0.76	PYZ
PFI	0.75	0.65	0.83		0.78	PFI
PUI	0.63	0.47	0.76	0.78		PUI
	PSL	PRN	PYZ	PFI	PUI

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Invesco DWA Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DWA 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 DWA'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
PSL	0.65	0.06	0.08	0.07	0.84	(0.67)	1.29	(1.12)	4.31
PRN	1.20	(0.22)	0.00	(0.27)	0.00	0.00	1.95	(3.19)	11.06
PYZ	0.82	(0.10)	0.00	(0.16)	0.00	0.00	1.41	(1.32)	5.30
PFI	0.98	(0.06)	0.00	(0.08)	0.00	0.00	1.73	(2.46)	6.27
PUI	0.77	(0.04)	0.00	(0.11)	0.00	0.00	1.58	(1.92)	5.25

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