Invesco SP Correlations

XMMO Etf

USD 114.97 0.67 0.58%

The current 90-days correlation between Invesco SP MidCap and Invesco SP SmallCap is -0.04 (i.e., Good 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 MidCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco SP Correlation With Market

Poor diversification

The correlation between Invesco SP MidCap and DJI is 0.72 (i.e., 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.

Check out Your Current Watchlist 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 population.

Moving together with Invesco Etf

0.89	VO	Vanguard Mid Cap	Pair Corr
0.94	VXF	Vanguard Extended Market Sell-off Trend	Pair Corr
0.99	IJH	iShares Core SP	Pair Corr
0.92	IWR	iShares Russell Mid	Pair Corr
0.99	MDY	SPDR SP MIDCAP	Pair Corr
0.95	FV	First Trust Dorsey	Pair Corr
0.99	IVOO	Vanguard SP Mid	Pair Corr
0.98	JHMM	John Hancock Multifactor	Pair Corr
0.98	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.85	SIXD	AIM ETF Products	Pair Corr
0.65	CEFD	ETRACS Monthly Pay	Pair Corr
0.86	BAC	Bank of America Sell-off Trend	Pair Corr
0.9	AXP	American Express Sell-off Trend	Pair Corr
0.63	BA	Boeing	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.77	HD	Home Depot	Pair Corr

Moving against Invesco Etf

0.79	ULE	ProShares Ultra Euro	Pair Corr
0.73	PMBS	PIMCO Mortgage Backed	Pair Corr
0.7	YCL	ProShares Ultra Yen	Pair Corr
0.69	FXY	Invesco CurrencyShares	Pair Corr
0.54	TRV	The Travelers Companies	Pair Corr
0.53	MCD	McDonalds	Pair Corr
0.51	KO	Coca Cola	Pair Corr
0.4	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	XSMO	XSVM	SPGP	XMVM	SPMO
XSMO		0.91	0.97	0.89	0.74	XSMO
XSVM	0.91		0.88	0.97	0.82	XSVM
SPGP	0.97	0.88		0.86	0.72	SPGP
XMVM	0.89	0.97	0.86		0.89	XMVM
SPMO	0.74	0.82	0.72	0.89		SPMO
	XSMO	XSVM	SPGP	XMVM	SPMO

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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
XSMO	0.94	(0.12)	3.40	1.77	(2.22)	5.26
XSVM	0.90	(0.06)	(0.14)	1.27	(1.90)	4.63
SPGP	0.77	(0.08)	1.30	1.19	(1.72)	4.05
XMVM	0.87	(0.01)	(0.08)	1.65	(1.89)	4.69
SPMO	0.94	0.02	(0.05)	1.59	(2.14)	4.95

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