| XMHQ Etf | | | USD 105.93 0.83 0.78% |
The current 90-days correlation between Invesco SP MidCap and Vanguard Multifactor is 0.87 (i.e., Very poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Invesco SP Correlation With Market
Very poor diversification
The correlation between Invesco SP MidCap and DJI is 0.83 (i.e., Very poor 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.
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