Invesco SP Correlations

RPG Etf

USD 39.37 0.93 2.42%

The current 90-days correlation between Invesco SP 500 and Invesco SP 500 is 0.33 (i.e., 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.

Invesco SP Correlation With Market

Good diversification

The correlation between Invesco SP 500 and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP 500 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 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Invesco Etf

0.94	VUG	Vanguard Growth Index	Pair Corr
0.94	IWF	iShares Russell 1000	Pair Corr
0.76	IVW	iShares SP 500	Pair Corr
0.97	SPYG	SPDR Portfolio SP	Pair Corr
0.97	IUSG	iShares Core SP	Pair Corr
0.7	VONG	Vanguard Russell 1000	Pair Corr
0.93	MGK	Vanguard Mega Cap	Pair Corr
0.94	VRGWX	Vanguard Russell 1000	Pair Corr
0.95	QQQM	Invesco NASDAQ 100	Pair Corr
0.92	IWY	iShares Russell Top	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.97	QTJA	Innovator ETFs Trust	Pair Corr
0.97	QTOC	Innovator ETFs Trust	Pair Corr
0.97	XTOC	Innovator ETFs Trust	Pair Corr
0.82	QTAP	Innovator Growth 100	Pair Corr
0.96	XTJA	Innovator ETFs Trust	Pair Corr
0.67	XTAP	Innovator Equity Acc	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.86	AXP	American Express	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against Invesco Etf

0.57	VZ	Verizon Communications Aggressive Push	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.44	PG	Procter Gamble	Pair Corr
0.37	KO	Coca Cola Sell-off Trend	Pair Corr
0.32	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	RPV	RFG	RZG	RFV	RZV
RPV		0.34	0.39	0.61	0.32	RPV
RFG	0.34		0.96	0.94	0.95	RFG
RZG	0.39	0.96		0.93	0.91	RZG
RFV	0.61	0.94	0.93		0.91	RFV
RZV	0.32	0.95	0.91	0.91		RZV
	RPV	RFG	RZG	RFV	RZV

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RPV	0.69	0.04	0.13	(0.66)	0.84	(0.69)	1.37	(1.29)	3.49
RFG	0.95	(0.15)	0.00	0.52	0.00	0.00	1.56	(2.48)	4.88
RZG	1.08	(0.11)	0.00	0.45	0.00	0.00	2.16	(2.25)	7.29
RFV	0.88	(0.05)	0.00	0.36	0.00	0.00	1.55	(2.20)	4.78
RZV	0.95	(0.17)	0.00	1.53	0.00	0.00	1.60	(1.84)	5.06

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