Invesco FTSE Correlations

Etfs . USA . 
Etf . Invesco FTSE RAFI
PRF Etf  USD 40.50  0.11  0.27%   
The current 90-days correlation between Invesco FTSE RAFI and Invesco FTSE RAFI is 0.87 (i.e., Very poor diversification). The correlation of Invesco FTSE 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.

Invesco FTSE Correlation With Market

Very poor diversification

The correlation between Invesco FTSE RAFI and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco FTSE RAFI 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 FTSE RAFI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Invesco Etf

  0.95VTV Vanguard Value IndexPairCorr
  0.9VYM Vanguard High DividendPairCorr
  0.98IWD iShares Russell 1000PairCorr
  0.92DGRO iShares Core DividendPairCorr
  0.97IVE iShares SP 500PairCorr
  0.81DVY iShares Select DividendPairCorr
  0.97SPYV SPDR Portfolio SPPairCorr
  0.97IUSV iShares Core SPPairCorr
  0.79UPRO ProShares UltraPro SP500PairCorr
  0.75QTJA Innovator ETFs TrustPairCorr
  0.81QTOC Innovator ETFs TrustPairCorr
  0.87XTOC Innovator ETFs TrustPairCorr
  0.77QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.89XTJA Innovator ETFs TrustPairCorr
  0.74XTAP Innovator Equity Acc Low VolatilityPairCorr
  0.64BA BoeingPairCorr
  0.63GE GE AerospacePairCorr
  0.72BAC Bank of America Sell-off TrendPairCorr
  0.73AXP American Express Sell-off TrendPairCorr

Moving against Invesco Etf

  0.56MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
PWB
+ 0.91
PRFZ
PWV
+ 0.48
PXF
PWB
+ 0.46
PWV
PWV
+ 0.18
PRFZ
PWC
+ 0.0
PRFZ
PWC
+ 0.0
PXF
  
High negative correlations   
PXF
- 0.62
PRFZ
PWB
- 0.32
PXF
PWC
- 0.0
PWB
PWC
- 0.0
PWV
PWC
- 0.0
PXF
PWC
- 0.0
PRFZ

Invesco FTSE Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco FTSE 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 FTSE'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.

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