Invesco DWA Correlations

PRN Etf

USD 140.90 0.00 0.00%

The current 90-days correlation between Invesco DWA Industrials and Invesco DWA Consumer is 0.74 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco DWA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco DWA Industrials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco DWA Correlation With Market

Very weak diversification

The correlation between Invesco DWA Industrials and DJI is 0.54 (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 Industrials 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 Industrials. 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

0.68	XLI	Industrial Select Sector	Pair Corr
0.86	VIS	Vanguard Industrials	Pair Corr
0.88	JETS	US Global Jets Sell-off Trend	Pair Corr
0.95	FXR	First Trust Industri	Pair Corr
0.61	PPA	Invesco Aerospace Defense	Pair Corr
0.77	IYJ	iShares Industrials ETF	Pair Corr
0.71	IYT	iShares Transportation	Pair Corr
0.85	FIDU	Fidelity MSCI Industrials	Pair Corr
0.93	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.82	BAC	Bank of America Sell-off Trend	Pair Corr
0.66	DIS	Walt Disney	Pair Corr
0.85	CAT	Caterpillar	Pair Corr

Moving against Invesco Etf

0.8	PMBS	PIMCO Mortgage Backed	Pair Corr
0.76	FXY	Invesco CurrencyShares	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.57	AMPD	Tidal Trust II	Pair Corr
0.56	GDXU	MicroSectors Gold Miners	Pair Corr
0.38	INTC	Intel	Pair Corr
0.83	VZ	Verizon Communications	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.78	KO	Coca Cola	Pair Corr
0.75	T	ATT Inc Earnings Call Today	Pair Corr
0.7	MCD	McDonalds	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.37	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.34	MMM	3M Company	Pair Corr

Related Correlations Analysis

	PEZ	PYZ	PSL	PFI	PTH
PEZ		0.8	0.67	0.95	0.8	PEZ
PYZ	0.8		0.74	0.87	0.74	PYZ
PSL	0.67	0.74		0.79	0.83	PSL
PFI	0.95	0.87	0.79		0.85	PFI
PTH	0.8	0.74	0.83	0.85		PTH
	PEZ	PYZ	PSL	PFI	PTH

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PEZ	1.37	(0.21)	(0.22)	1.96	(4.22)	7.28
PYZ	0.95	(0.07)	(0.14)	1.90	(2.65)	5.56
PSL	0.77	(0.02)	(0.09)	1.56	(1.59)	4.31
PFI	1.25	(0.05)	(0.11)	2.34	(3.43)	8.39
PTH	1.49	0.05	(0.03)	3.26	(3.56)	10.40

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