Invesco FTSE Correlations

Etfs . USA . 
Etf . Invesco FTSE RAFI
PXF Etf  USD 53.53  0.27  0.50%   
The current 90-days correlation between Invesco FTSE RAFI and Invesco FTSE RAFI is -0.07 (i.e., Good diversification). The correlation of Invesco FTSE 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 FTSE Correlation With Market

Very weak diversification

The correlation between Invesco FTSE RAFI and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco FTSE RAFI 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 FTSE RAFI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Invesco Etf

  1.0EFV iShares MSCI EAFEPairCorr
  0.91FNDF Schwab FundamentalPairCorr
  0.91VYMI Vanguard InternationalPairCorr
  0.91IDV iShares InternationalPairCorr
  1.0DFIV Dimensional InternationalPairCorr
  0.91IVLU iShares Edge MSCIPairCorr
  1.0RODM Hartford MultifactorPairCorr
  0.91HDEF Xtrackers MSCI EAFEPairCorr
  0.8PID Invesco InternationalPairCorr
  0.93FXY Invesco CurrencySharesPairCorr
  0.62PG Procter GamblePairCorr
  0.75VZ Verizon CommunicationsPairCorr
  0.68T ATT Inc Earnings Call This WeekPairCorr
  0.66JNJ Johnson JohnsonPairCorr

Moving against Invesco Etf

  0.82WGMI Valkyrie Bitcoin MinersPairCorr
  0.65GRI GRI Bio Earnings Call This WeekPairCorr
  0.55AXP American Express Sell-off TrendPairCorr
  0.49BAC Bank of America Sell-off TrendPairCorr
  0.47CAT CaterpillarPairCorr
  0.44AA Alcoa CorpPairCorr
  0.43DIS Walt DisneyPairCorr
  0.41HD Home DepotPairCorr
  0.35MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
PIZ
+ 0.91
PDN
PDN
+ 0.9
PXH
PIZ
+ 0.85
PXH
PRF
+ 0.72
PRFZ
PIZ
+ 0.45
PRF
PRF
+ 0.1
PDN
  
High negative correlations   
PRFZ
- 0.54
PDN
PRFZ
- 0.52
PXH
PIZ
- 0.23
PRFZ

Invesco FTSE Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco FTSE 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 FTSE'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.

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