Invesco SP Correlations

RGI Etf

USD 52.45 0.45 0.87%

The current 90-days correlation between Invesco SP 500 and iShares Telecommunications ETF is 0.21 (i.e., Modest 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.

Invesco SP Correlation With Market

Average diversification

The correlation between Invesco SP 500 and DJI is 0.11 (i.e., Average 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 Equity Center 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 price.

Moving together with Invesco Etf

0.97	XLI	Industrial Select Sector	Pair Corr
0.71	DRVN	Driven Brands Holdings	Pair Corr
0.91	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.96	VIS	Vanguard Industrials	Pair Corr
0.9	JETS	US Global Jets	Pair Corr
0.94	FXR	First Trust Industri	Pair Corr
0.93	PPA	Invesco Aerospace Defense	Pair Corr
0.97	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.89	IYT	iShares Transportation Low Volatility	Pair Corr
0.96	FIDU	Fidelity MSCI Industrials	Pair Corr
0.88	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.91	SIXD	AIM ETF Products	Pair Corr
0.94	CEFD	ETRACS Monthly Pay	Pair Corr
0.87	TSJA	TSJA	Pair Corr
0.87	DSJA	DSJA	Pair Corr
0.72	FXA	Invesco CurrencyShares	Pair Corr
0.86	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.96	AXP	American Express Earnings Call Today	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.96	HD	Home Depot	Pair Corr
0.65	MMM	3M Company Earnings Call This Week	Pair Corr
0.82	T	ATT Inc Earnings Call This Week	Pair Corr
0.7	DIS	Walt Disney Aggressive Push	Pair Corr
0.9	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Invesco Etf

0.86	VIIX	VIIX	Pair Corr
0.71	BA	Boeing Earnings Call This Week	Pair Corr
0.41	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	IYZ	IYM	IYC	IYR
IYZ		0.89	0.92	0.81	IYZ
IYM	0.89		0.91	0.58	IYM
IYC	0.92	0.91		0.77	IYC
IYR	0.81	0.58	0.77		IYR
	IYZ	IYM	IYC	IYR

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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
IYZ	0.79	0.15	0.16	0.21	0.69	(0.90)	2.18	(1.24)	5.68
IYM	0.82	0.00	0.00	0.07	1.00	(0.85)	1.59	(1.57)	4.65
IYC	0.88	(0.01)	0.01	0.06	1.15	(0.97)	1.68	(1.94)	4.80
IYR	0.66	0.08	0.07	0.21	0.64	(0.76)	1.57	(0.92)	4.51

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