Invesco SP Correlations

PSCT Etf

USD 42.10 0.15 0.36%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.74 (i.e., 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Invesco SP Correlation With Market

Very weak diversification

The correlation between Invesco SP SmallCap and DJI is 0.43 (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

0.76	VGT	Vanguard Information Sell-off Trend	Pair Corr
0.66	XLK	Technology Select Sector Sell-off Trend	Pair Corr
0.7	IYW	iShares Technology ETF	Pair Corr
0.76	FTEC	Fidelity MSCI Information Sell-off Trend	Pair Corr
0.63	IGV	iShares Expanded Tech Sell-off Trend	Pair Corr
0.85	WTMF	WisdomTree Managed	Pair Corr
0.68	MSFT	Microsoft	Pair Corr

Moving against Invesco Etf

0.31	CIBR	First Trust NASDAQ	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.59	KO	Coca Cola	Pair Corr
0.56	INTC	Intel	Pair Corr
0.5	PG	Procter Gamble	Pair Corr
0.47	T	ATT Inc Downward Rally	Pair Corr
0.41	GE	GE Aerospace	Pair Corr
0.39	MCD	McDonalds	Pair Corr
0.39	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.38	CSCO	Cisco Systems	Pair Corr
0.34	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	PSCH	PSCI	PSCF	PSCD	PSCC
PSCH		0.68	0.63	0.75	0.33	PSCH
PSCI	0.68		0.79	0.93	0.75	PSCI
PSCF	0.63	0.79		0.77	0.76	PSCF
PSCD	0.75	0.93	0.77		0.78	PSCD
PSCC	0.33	0.75	0.76	0.78		PSCC
	PSCH	PSCI	PSCF	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
PSCH	1.09	(0.12)	(0.21)	1.53	(2.49)	8.13
PSCI	0.87	(0.22)	(0.34)	1.55	(2.00)	5.11
PSCF	0.97	(0.10)	(0.21)	1.39	(1.98)	6.05
PSCD	0.97	(0.23)	(0.38)	1.22	(3.08)	6.93
PSCC	0.91	(0.15)	(0.34)	1.43	(2.41)	4.81

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