Invesco DWA Correlations

Etfs . USA . 
Etf . Invesco DWA Utilities
PUI Etf  USD 42.67  0.28  0.65%   
The current 90-days correlation between Invesco DWA Utilities and Invesco DWA Consumer is 0.72 (i.e., Poor 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.

Invesco DWA Correlation With Market

Very weak diversification

The correlation between Invesco DWA Utilities and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco DWA Utilities 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 DWA Utilities. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Invesco Etf

  0.96XLU Utilities Select Sector Aggressive PushPairCorr
  0.96VPU Vanguard Utilities IndexPairCorr
  0.71AMPS BlackrockPairCorr
  0.96FUTY Fidelity MSCI UtilitiesPairCorr
  0.97IDU iShares Utilities ETFPairCorr
  0.96FXU First Trust UtilitiesPairCorr
  0.8JXI iShares Global UtilitiesPairCorr
  0.87UTES Virtus Reaves UtilitiesPairCorr
  0.81SIXD AIM ETF ProductsPairCorr
  0.67PFFL ETRACS 2xMonthly PayPairCorr
  0.78CEFD ETRACS Monthly PayPairCorr
  0.76NFLX NetflixPairCorr
  0.63FCOR Fidelity Corporate BondPairCorr
  0.8PFUT Putnam Sustainable FuturePairCorr
  0.74KWEB KraneShares CSI China Aggressive PushPairCorr
  0.8VWO Vanguard FTSE EmergingPairCorr
  0.77SAUG First Trust ExchangePairCorr
  0.81SPY SPDR SP 500PairCorr
  0.78DCPE DoubleLine Shiller CAPEPairCorr
  0.7VABS Virtus Newfleet ABSMBSPairCorr
  0.82SUPP TCW Transform SupplyPairCorr
  0.82BUFD FT Cboe VestPairCorr
  0.76MYMF SPDR SSGA My2026PairCorr
  0.76KGRN KraneShares MSCI ChinaPairCorr
  0.68VBF Invesco Van KampenPairCorr
  0.78CPSD Calamos ETF TrustPairCorr
  0.82VYMI Vanguard InternationalPairCorr
  0.78EFAA Invesco Actively ManagedPairCorr
  0.7SPIB SPDR Barclays IntermPairCorr
  0.73IBIB iShares TrustPairCorr
  0.82QTOC Innovator ETFs TrustPairCorr
  0.75VFVA Vanguard Value FactorPairCorr

Moving against Invesco Etf

  0.8VXX iPath Series BPairCorr
  0.8VIXY ProShares VIX ShortPairCorr
  0.59YCL ProShares Ultra YenPairCorr

Related Correlations Analysis

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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.

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