Invesco SP Correlations

PSCF Etf

USD 55.15 0.43 0.79%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.83 (i.e., Very poor diversification). The correlation of Invesco SP 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 SP Correlation With Market

Very weak diversification

The correlation between Invesco SP SmallCap and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP SmallCap 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 SP SmallCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Invesco Etf

0.9	KRE	SPDR SP Regional	Pair Corr
0.88	KBE	SPDR SP Bank	Pair Corr
0.85	FXO	First Trust Financials	Pair Corr
0.91	IAT	iShares Regional Banks	Pair Corr
0.91	SNPD	DBX ETF Trust Low Volatility	Pair Corr
0.77	EVUS	iShares ESG Aware	Pair Corr
0.82	VBK	Vanguard Small Cap	Pair Corr
0.72	VZ	Verizon Communications Aggressive Push	Pair Corr
0.8	PG	Procter Gamble	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr

Moving against Invesco Etf

0.48	EOS	Eaton Vance Enhanced	Pair Corr
0.64	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.64	BA	Boeing	Pair Corr

Related Correlations Analysis

	PSCI	PSCM	PSCU	PSCD	PSCC
PSCI		0.93	0.88	0.85	0.77	PSCI
PSCM	0.93		0.97	0.77	0.83	PSCM
PSCU	0.88	0.97		0.71	0.83	PSCU
PSCD	0.85	0.77	0.71		0.79	PSCD
PSCC	0.77	0.83	0.83	0.79		PSCC
	PSCI	PSCM	PSCU	PSCD	PSCC

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PSCI	0.83	(0.13)	(0.15)	1.70	(1.66)	5.80
PSCM	0.98	(0.17)	(0.16)	1.65	(1.97)	5.69
PSCU	0.74	(0.15)	(0.21)	1.37	(1.66)	5.08
PSCD	0.91	(0.05)	(0.05)	2.13	(2.24)	8.12
PSCC	0.86	(0.03)	(0.04)	1.49	(1.93)	4.81

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