Invesco SP Correlations

XRLV Etf

USD 55.69 0.14 0.25%

The current 90-days correlation between Invesco SP 500 and Invesco SP MidCap is 0.86 (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

Significant diversification

The correlation between Invesco SP 500 and DJI is 0.07 (i.e., Significant 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 Current Watchlist 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 bureau of economic analysis.

Moving together with Invesco Etf

0.69	DVY	iShares Select Dividend	Pair Corr
0.93	FVD	First Trust Value	Pair Corr
0.85	NOBL	ProShares SP 500	Pair Corr
0.79	VZ	Verizon Communications	Pair Corr
0.77	KO	Coca Cola	Pair Corr
0.78	T	ATT Inc Earnings Call This Week	Pair Corr
0.67	IBM	International Business	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.74	PG	Procter Gamble	Pair Corr

Moving against Invesco Etf

0.34	UPRO	ProShares UltraPro SP500	Pair Corr
0.48	MRK	Merck Company	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.43	MSFT	Microsoft	Pair Corr
0.36	AXP	American Express	Pair Corr
0.32	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	XMLV	XSLV	SPMO	SPVU	EELV
XMLV		0.6	0.41	0.77	0.51	XMLV
XSLV	0.6		0.8	0.41	0.05	XSLV
SPMO	0.41	0.8		0.49	0.27	SPMO
SPVU	0.77	0.41	0.49		0.71	SPVU
EELV	0.51	0.05	0.27	0.71		EELV
	XMLV	XSLV	SPMO	SPVU	EELV

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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
XMLV	0.67	0.01	0.11	(0.59)	0.73	(0.74)	1.23	(1.12)	2.97
XSLV	0.73	(0.06)	0.00	(1.64)	0.00	0.00	1.31	(1.21)	3.11
SPMO	0.95	(0.05)	0.00	7.62	0.00	0.00	1.59	(2.14)	4.95
SPVU	0.65	0.08	0.17	(10.83)	0.75	(0.66)	1.47	(1.19)	4.07
EELV	0.44	0.07	0.24	(14.48)	0.43	(0.52)	1.03	(0.86)	2.86

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