Invesco SP Correlations

PSCU Etf

USD 57.75 0.18 0.31%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP SmallCap is 0.51 (i.e., Very weak 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

Good diversification

The correlation between Invesco SP SmallCap and DJI is -0.03 (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

0.62	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.71	FNGO	MicroSectors FANG Index	Pair Corr
0.71	NAIL	Direxion Daily Homeb	Pair Corr
0.65	DUSL	Direxion Daily Indus	Pair Corr
0.63	TECL	Direxion Daily Technology	Pair Corr
0.68	SPXL	Direxion Daily SP500	Pair Corr
0.68	UPRO	ProShares UltraPro SP500	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.65	BA	Boeing	Pair Corr
0.69	BAC	Bank of America	Pair Corr

Moving against Invesco Etf

0.34	AMPS	Altus Power	Pair Corr
0.32	FXU	First Trust Utilities	Pair Corr
0.53	TRV	The Travelers Companies	Pair Corr
0.5	JNJ	Johnson Johnson	Pair Corr
0.39	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PSCC	PSCI	PSCF	PSCM	PSCD
PSCC		0.54	0.7	0.85	0.89	PSCC
PSCI	0.54		0.67	0.65	0.72	PSCI
PSCF	0.7	0.67		0.87	0.83	PSCF
PSCM	0.85	0.65	0.87		0.94	PSCM
PSCD	0.89	0.72	0.83	0.94		PSCD
	PSCC	PSCI	PSCF	PSCM	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
PSCC	0.93	(0.16)	10.41	1.80	(1.93)	4.81
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
PSCM	1.07	(0.16)	0.51	2.15	(2.24)	6.49
PSCD	1.06	(0.25)	(9.89)	2.13	(2.99)	5.55

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