Invesco Dividend Correlations

PFM Etf

USD 45.93 0.09 0.20%

The current 90-days correlation between Invesco Dividend Ach and Invesco High Yield is 0.8 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Dividend moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Dividend Achievers moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco Dividend Correlation With Market

Very poor diversification

The correlation between Invesco Dividend Achievers and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Dividend Achievers 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 Dividend Achievers. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Invesco Etf

0.93	VTV	Vanguard Value Index	Pair Corr
0.95	VYM	Vanguard High Dividend	Pair Corr
0.95	IWD	iShares Russell 1000	Pair Corr
0.97	DGRO	iShares Core Dividend	Pair Corr
0.97	IVE	iShares SP 500 Sell-off Trend	Pair Corr
0.83	DVY	iShares Select Dividend	Pair Corr
0.97	SPYV	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.63	FVD	First Trust Value	Pair Corr
0.96	IUSV	iShares Core SP	Pair Corr
0.66	NOBL	ProShares SP 500	Pair Corr
0.92	JPM	JPMorgan Chase	Pair Corr
0.64	BAC	Bank of America Aggressive Push	Pair Corr
0.61	GE	GE Aerospace	Pair Corr
0.86	WMT	Walmart	Pair Corr

Moving against Invesco Etf

0.62

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	PID	PEY	PWV	PUI	PWB
PID		0.72	0.81	0.77	0.02	PID
PEY	0.72		0.9	0.77	0.37	PEY
PWV	0.81	0.9		0.87	0.38	PWV
PUI	0.77	0.77	0.87		0.24	PUI
PWB	0.02	0.37	0.38	0.24		PWB
	PID	PEY	PWV	PUI	PWB

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Invesco Dividend Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Dividend 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 Dividend'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
PID	0.56	0.05	0.07	0.12	0.63	(0.63)	1.17	(0.90)	2.55
PEY	0.72	(0.02)	0.00	(0.03)	0.00	0.00	1.39	(1.20)	3.81
PWV	0.67	0.06	0.07	0.09	0.82	(0.64)	1.33	(1.25)	3.31
PUI	0.83	0.05	0.04	0.10	1.07	(0.89)	1.57	(1.91)	5.26
PWB	1.08	(0.07)	0.00	(0.06)	0.00	0.00	2.01	(2.75)	6.30

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