Invesco DWA Correlations

PXI Etf

USD 46.03 0.42 0.90%

The current 90-days correlation between Invesco DWA Energy and Invesco Dynamic Energy is 0.9 (i.e., Almost no diversification). The correlation of Invesco DWA 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 DWA Correlation With Market

Very weak diversification

The correlation between Invesco DWA Energy and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA Energy 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 Energy. 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

0.94	XLE	Energy Select Sector	Pair Corr
0.96	VDE	Vanguard Energy Index	Pair Corr
0.94	XOP	SPDR SP Oil	Pair Corr
0.8	OIH	VanEck Oil Services	Pair Corr
0.96	IYE	iShares Energy ETF	Pair Corr
0.71	IXC	iShares Global Energy	Pair Corr
0.94	FXN	First Trust Energy	Pair Corr
0.97	FENY	Fidelity MSCI Energy	Pair Corr
0.94	FTXN	First Trust Nasdaq	Pair Corr
0.9	IEO	iShares Oil Gas	Pair Corr
0.67	FNGU	MicroSectors FANG Index	Pair Corr
0.67	FNGO	MicroSectors FANG Index	Pair Corr
0.82	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.64	TECL	Direxion Daily Technology	Pair Corr
0.69	FNGS	MicroSectors FANG ETN	Pair Corr
0.69	QLD	ProShares Ultra QQQ	Pair Corr
0.66	ROM	ProShares Ultra Tech	Pair Corr
0.95	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.81	DIS	Walt Disney	Pair Corr
0.65	CAT	Caterpillar Sell-off Trend	Pair Corr
0.81	CSCO	Cisco Systems	Pair Corr
0.69	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.69	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.88	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr

Moving against Invesco Etf

0.78	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.77	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.37	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	PXE	PYZ	PRN	PSL	PEZ
PXE		0.52	0.62	0.49	0.62	PXE
PYZ	0.52		0.79	0.59	0.82	PYZ
PRN	0.62	0.79		0.87	0.92	PRN
PSL	0.49	0.59	0.87		0.9	PSL
PEZ	0.62	0.82	0.92	0.9		PEZ
	PXE	PYZ	PRN	PSL	PEZ

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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
PXE	1.26	0.00	(0.01)	0.09	1.57	(1.27)	2.18	(2.67)	8.27
PYZ	0.78	(0.02)	(0.02)	0.07	0.74	(0.86)	1.97	(1.25)	5.13
PRN	0.94	0.09	0.12	0.15	0.79	(1.04)	2.64	(1.46)	8.73
PSL	0.51	0.09	0.08	0.24	0.35	(0.56)	1.30	(0.99)	2.80
PEZ	0.84	0.04	0.04	0.13	0.79	(0.94)	2.00	(1.38)	4.27

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