Invesco SP Correlations

RFG Etf

USD 44.64 0.19 0.42%

The current 90-days correlation between Invesco SP MidCap and Invesco SP SmallCap is -0.09 (i.e., Good 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.

Invesco SP Correlation With Market

Good diversification

The correlation between Invesco SP MidCap and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP MidCap 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 MidCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Invesco Etf

0.87	VOT	Vanguard Mid Cap	Pair Corr
0.9	IWP	iShares Russell Mid	Pair Corr
0.89	ARKK	ARK Innovation ETF	Pair Corr
1.0	IJK	iShares SP Mid	Pair Corr
0.93	JKH	iShares Morningstar Mid	Pair Corr
0.93	KOMP	SPDR Kensho New	Pair Corr
0.97	MDYG	SPDR SP 400	Pair Corr
0.93	IMCG	iShares Morningstar Mid	Pair Corr
0.74	FPX	First Trust Equity	Pair Corr
1.0	IVOG	Vanguard SP Mid	Pair Corr
0.81	MPAY	Akros Monthly Payout	Pair Corr
0.64	CPST	Calamos ETF Trust	Pair Corr
0.64	BA	Boeing	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.9	HD	Home Depot	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.86	BAC	Bank of America Sell-off Trend	Pair Corr
0.76	DIS	Walt Disney	Pair Corr

Moving against Invesco Etf

0.91	BITI	ProShares Trust	Pair Corr
0.7	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.67	PULS	PGIM Ultra Short	Pair Corr
0.74	TRV	The Travelers Companies	Pair Corr
0.73	VZ	Verizon Communications	Pair Corr
0.36	IBM	International Business	Pair Corr
0.36	INTC	Intel	Pair Corr

Related Correlations Analysis

	RZG	RFV	RPG	RZV	RPV
RZG		0.88	0.86	0.92	0.34	RZG
RFV	0.88		0.9	0.85	0.63	RFV
RPG	0.86	0.9		0.75	0.46	RPG
RZV	0.92	0.85	0.75		0.25	RZV
RPV	0.34	0.63	0.46	0.25		RPV
	RZG	RFV	RPG	RZV	RPV

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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
RZG	1.10	(0.10)	(0.16)	2.16	(2.42)	7.29
RFV	0.93	(0.14)	5.74	1.55	(2.39)	4.78
RPG	1.22	(0.16)	0.74	1.81	(3.49)	5.66
RZV	0.97	(0.17)	(0.26)	1.60	(1.93)	5.06
RPV	0.74	(0.01)	(0.93)	1.54	(1.41)	3.49

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