Invesco DWA Correlations

PEZ Etf

USD 94.52 1.22 1.31%

The current 90-days correlation between Invesco DWA Consumer and Invesco DWA Consumer is -0.01 (i.e., Good diversification). The correlation of Invesco DWA 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 DWA Correlation With Market

Very poor diversification

The correlation between Invesco DWA Consumer and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA Consumer and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco DWA Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Invesco Etf

0.9	XLY	Consumer Discretionary	Pair Corr
0.9	VCR	Vanguard Consumer	Pair Corr
0.71	ITB	iShares Home Construction	Pair Corr
0.9	FDIS	Fidelity MSCI Consumer	Pair Corr
0.79	XHB	SPDR SP Homebuilders	Pair Corr
0.88	IYC	iShares Consumer Dis	Pair Corr
0.91	PEJ	Invesco Dynamic Leisure	Pair Corr
0.9	FXD	First Trust Consumer	Pair Corr
0.63	RCD	Ready Capital	Pair Corr
0.89	XRT	SPDR SP Retail	Pair Corr
0.94	UPRO	ProShares UltraPro SP500	Pair Corr
0.84	QTJA	Innovator ETFs Trust Low Volatility	Pair Corr
0.82	QTOC	Innovator ETFs Trust Low Volatility	Pair Corr
0.81	XTOC	Innovator ETFs Trust	Pair Corr
0.61	QTAP	Innovator Growth 100	Pair Corr
0.82	XTJA	Innovator ETFs Trust	Pair Corr

Moving against Invesco Etf

0.81	BTAL	AGFiQ Market Neutral	Pair Corr
0.44	PCRB	Putnam ETF Trust	Pair Corr
0.43	SDFI	AB Active ETFs,	Pair Corr
0.35	TOTL	SPDR DoubleLine Total	Pair Corr
0.75	IBTI	iShares iBonds Dec	Pair Corr
0.6	SHAG	WisdomTree Yield Enhanced	Pair Corr
0.46	BND	Vanguard Total Bond	Pair Corr
0.46	FGDL	Franklin Responsibly	Pair Corr
0.38	GLD	SPDR Gold Shares	Pair Corr
0.34	GREK	Global X MSCI	Pair Corr

Related Correlations Analysis

	PSL	PRN	PYZ	PFI	PUI
PSL		0.68	0.53	0.69	0.74	PSL
PRN	0.68		0.93	0.86	0.68	PRN
PYZ	0.53	0.93		0.83	0.6	PYZ
PFI	0.69	0.86	0.83		0.56	PFI
PUI	0.74	0.68	0.6	0.56		PUI
	PSL	PRN	PYZ	PFI	PUI

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Invesco DWA Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco DWA 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 DWA'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
PSL	0.97	0.00	0.04	(0.04)	1.25	(1.01)	1.85	(1.83)	6.34
PRN	1.63	(0.07)	0.00	0.99	0.00	0.00	3.06	(3.33)	12.18
PYZ	1.35	(0.07)	0.00	1.11	0.00	0.00	2.70	(3.18)	12.50
PFI	1.55	(0.02)	0.00	(0.07)	0.00	0.00	3.18	(3.94)	10.95
PUI	0.86	0.04	0.06	0.49	1.40	(0.88)	2.28	(1.84)	8.24

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