Invesco SP Correlations

The current 90-days correlation between Invesco SP MidCap and Invesco SP SmallCap is 0.14 (i.e., Average 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

Very poor diversification

The correlation between Invesco SP MidCap and DJI is 0.88 (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.

Check out Your Equity Center to better understand how to build diversified portfolios. 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

0.98	VOE	Vanguard Mid Cap	Pair Corr
0.7	SDY	SPDR SP Dividend	Pair Corr
0.99	IWS	iShares Russell Mid	Pair Corr
0.89	COWZ	Pacer Cash Cows	Pair Corr
0.79	IJJ	iShares SP Mid	Pair Corr
0.99	DON	WisdomTree MidCap	Pair Corr
0.99	MDYV	SPDR SP 400	Pair Corr
0.71	PEY	Invesco High Yield	Pair Corr
0.98	ONEY	SPDR Russell 1000	Pair Corr
0.99	IVOV	Vanguard SP Mid	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.95	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.95	IVV	iShares Core SP	Pair Corr
0.96	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.92	VUG	Vanguard Growth Index	Pair Corr
0.98	VO	Vanguard Mid Cap	Pair Corr
0.99	VB	Vanguard Small Cap	Pair Corr
0.69	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	DIS	Walt Disney Aggressive Push	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.62	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.72	BAC	Bank of America Aggressive Push	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.77	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.7	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Invesco Etf

0.68	BND	Vanguard Total Bond	Pair Corr
0.47	VEA	Vanguard FTSE Developed	Pair Corr
0.6	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.57	KO	Coca Cola Sell-off Trend	Pair Corr
0.55	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	RWJ	RWL	RFV	PRFZ	RZG
RWJ		0.85	0.86	0.88	0.87	RWJ
RWL	0.85		0.98	0.97	0.95	RWL
RFV	0.86	0.98		0.98	0.94	RFV
PRFZ	0.88	0.97	0.98		0.97	PRFZ
RZG	0.87	0.95	0.94	0.97		RZG
	RWJ	RWL	RFV	PRFZ	RZG

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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
RWJ	1.00	0.14	0.03	6.18	0.86	(1.15)	2.15	(1.62)	7.76
RWL	0.53	0.00	(0.03)	0.12	0.39	(0.63)	0.96	(0.81)	4.01
RFV	0.83	0.01	0.05	0.12	0.77	(0.93)	2.00	(1.64)	6.69
PRFZ	0.87	(0.02)	0.02	0.10	0.87	(1.01)	1.99	(1.63)	6.68
RZG	1.01	(0.05)	0.00	0.08	0.96	(1.09)	2.29	(1.52)	7.58

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