Invesco SP Correlations

RWJ Etf

USD 44.96 0.09 0.20%

The current 90-days correlation between Invesco SP SmallCap and Invesco SP MidCap is 0.91 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco SP SmallCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Very weak diversification

The correlation between Invesco SP SmallCap and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco SP SmallCap 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 SmallCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Invesco Etf

0.62	VBR	Vanguard Small Cap	Pair Corr
0.98	DFAT	Dimensional Targeted	Pair Corr
0.97	IJS	iShares SP Small	Pair Corr
0.97	SLYV	SPDR SP 600	Pair Corr
0.97	AVUV	Avantis Small Cap	Pair Corr
0.93	DES	WisdomTree SmallCap	Pair Corr
0.64	MDYV	SPDR SP 400	Pair Corr
0.72	HD	Home Depot	Pair Corr

Related Correlations Analysis

	RWK	RWL	EES	XSVM	PRFZ
RWK		0.75	0.91	0.52	0.92	RWK
RWL	0.75		0.53	0.49	0.61	RWL
EES	0.91	0.53		0.58	0.98	EES
XSVM	0.52	0.49	0.58		0.53	XSVM
PRFZ	0.92	0.61	0.98	0.53		PRFZ
	RWK	RWL	EES	XSVM	PRFZ

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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
RWK	0.66	(0.13)	(0.21)	1.09	(1.66)	4.10
RWL	0.50	(0.03)	(0.04)	1.21	(1.06)	2.82
EES	0.74	(0.17)	(0.25)	1.56	(2.05)	4.85
XSVM	0.84	(0.11)	(0.12)	1.70	(1.74)	6.00
PRFZ	0.76	(0.16)	(0.24)	1.44	(1.89)	4.87

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Invesco SP Correlations

Invesco SP Correlation With Market

Very weak diversification

Moving together with Invesco Etf

Related Correlations Analysis

Invesco SP Constituents Risk-Adjusted Indicators

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