Invesco DWA Correlations

PSL Etf

USD 104.85 0.03 0.03%

The current 90-days correlation between Invesco DWA Consumer and Invesco DWA Consumer is 0.78 (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 Consumer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco DWA Correlation With Market

Good diversification

The correlation between Invesco DWA Consumer and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Invesco Etf

0.68	VDC	Vanguard Consumer Staples	Pair Corr
0.68	FSTA	Fidelity MSCI Consumer	Pair Corr
0.76	PBJ	Invesco Dynamic Food	Pair Corr
0.61	DUSL	Direxion Daily Indus	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.61	IBM	International Business	Pair Corr
0.61	AXP	American Express	Pair Corr

Moving against Invesco Etf

0.69

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	PEZ	PYZ	PRN	PUI	PFI
PEZ		0.74	0.78	-0.01	0.81	PEZ
PYZ	0.74		0.75	0.29	0.83	PYZ
PRN	0.78	0.75		-0.21	0.73	PRN
PUI	-0.01	0.29	-0.21		0.19	PUI
PFI	0.81	0.83	0.73	0.19		PFI
	PEZ	PYZ	PRN	PUI	PFI

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PFI	+ 0.83	PYZ
PFI	+ 0.81	PEZ
PRN	+ 0.78	PEZ
PRN	+ 0.75	PYZ
PYZ	+ 0.74	PEZ
PFI	+ 0.73	PRN

High negative correlations

PUI	- 0.21	PRN
PUI	- 0.01	PEZ

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PEZ	1.37	(0.31)	0.00	1.27	0.00	0.00	1.96	(4.22)	7.28
PYZ	0.96	(0.06)	0.00	(0.10)	0.00	0.00	1.90	(2.65)	5.56
PRN	1.46	(0.13)	0.00	(0.15)	0.00	0.00	3.17	(3.33)	11.06
PUI	0.83	0.03	0.07	(0.25)	1.06	(0.91)	1.59	(1.92)	5.25
PFI	1.22	(0.07)	0.00	0.60	0.00	0.00	2.50	(3.13)	8.39

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