Invesco Financial Correlations

Etfs . USA . 
Etf . Invesco Financial Preferred
PGF Etf  USD 14.04  0.02  0.14%   
The current 90-days correlation between Invesco Financial and Invesco Preferred ETF is 0.94 (i.e., Almost no diversification). The correlation of Invesco Financial 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 Financial Correlation With Market

Poor diversification

The correlation between Invesco Financial Preferred and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Financial Preferred and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Financial Preferred. 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

  0.98PFF iShares PreferredPairCorr
  0.95FPE First Trust PreferredPairCorr
  1.0PGX Invesco Preferred ETFPairCorr
  0.99PFFD Global X PreferredPairCorr
  0.84VRP Invesco Variable RatePairCorr
  0.99PSK SPDR ICE PreferredPairCorr
  0.93PFXF VanEck Preferred SecPairCorr
  0.88FPEI First Trust InstitutionalPairCorr
  0.95PFFA Virtus InfraCap PreferredPairCorr
  0.82VTI Vanguard Total StockPairCorr
  0.82SPY SPDR SP 500PairCorr
  0.82IVV iShares Core SPPairCorr
  0.89VTV Vanguard Value IndexPairCorr
  0.75VUG Vanguard Growth IndexPairCorr
  0.8VO Vanguard Mid CapPairCorr
  0.84VB Vanguard Small CapPairCorr
  0.89MMM 3M CompanyPairCorr
  0.8CAT Caterpillar Sell-off TrendPairCorr
  0.83HPQ HP IncPairCorr
  0.86AA Alcoa Corp Earnings Call TomorrowPairCorr
  0.75BAC Bank of America Aggressive PushPairCorr
  0.81DIS Walt Disney Buyout TrendPairCorr
  0.69INTC IntelPairCorr
  0.68IBM International BusinessPairCorr
  0.87PFE Pfizer IncPairCorr
  0.72MRK Merck CompanyPairCorr
  0.71CVX Chevron CorpPairCorr
  0.64GE GE AerospacePairCorr

Related Correlations Analysis

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Invesco Financial Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco Financial 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 Financial'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.

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