Invesco SP Correlations

PSCM Etf

USD 67.92 1.03 1.49%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco SP SmallCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Good diversification

The correlation between Invesco SP SmallCap and DJI is -0.18 (i.e., Good 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

0.63	VAW	Vanguard Materials Index	Pair Corr
0.81	PHO	Invesco Water Resources	Pair Corr
0.81	FXZ	First Trust Materials	Pair Corr
0.8	FIW	First Trust Water	Pair Corr
0.75	URNM	Sprott Uranium Miners	Pair Corr
0.84	SIXD	AIM ETF Products	Pair Corr
0.66	CEFD	ETRACS Monthly Pay	Pair Corr
0.79	AXP	American Express	Pair Corr
0.69	JPM	JPMorgan Chase	Pair Corr

Moving against Invesco Etf

0.63	ULE	ProShares Ultra Euro	Pair Corr
0.58	YCL	ProShares Ultra Yen	Pair Corr
0.53	PMBS	PIMCO Mortgage Backed	Pair Corr
0.48	FXY	Invesco CurrencyShares	Pair Corr
0.39	GDXU	MicroSectors Gold Miners	Pair Corr
0.56	VZ	Verizon Communications	Pair Corr
0.46	KO	Coca Cola	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.35	T	ATT Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	PSCI	PSCF	PSCC	PSCU	PSCD
PSCI		0.67	0.54	0.69	0.72	PSCI
PSCF	0.67		0.7	0.84	0.83	PSCF
PSCC	0.54	0.7		0.76	0.89	PSCC
PSCU	0.69	0.84	0.76		0.8	PSCU
PSCD	0.72	0.83	0.89	0.8		PSCD
	PSCI	PSCF	PSCC	PSCU	PSCD

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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	0.95	(0.18)	(0.24)	1.75	(2.90)	5.11
PSCF	0.94	(0.08)	(8.29)	1.47	(1.98)	5.31
PSCC	0.93	(0.16)	10.41	1.80	(1.93)	4.81
PSCU	0.78	(0.05)	1.66	1.53	(1.66)	3.83
PSCD	1.06	(0.25)	(9.89)	2.13	(2.99)	5.55

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