Invesco FTSE Correlations

PDN Etf  USD 33.69  0.42  1.26%   
The current 90-days correlation between Invesco FTSE RAFI and Dimensional International Value is 0.92 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco FTSE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco FTSE RAFI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Invesco FTSE Correlation With Market

Poor diversification

The correlation between Invesco FTSE RAFI and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco FTSE RAFI 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 FTSE RAFI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Invesco Etf

  1.0FNDC Schwab FundamentalPairCorr
  0.96AVDV Avantis InternationalPairCorr
  0.99DLS WisdomTree InternationalPairCorr
  0.98DISV Dimensional ETF TrustPairCorr
  0.99DIM WisdomTree InternationalPairCorr
  0.9DDLS WisdomTree DynamicPairCorr
  0.9GVAL Cambria Global ValuePairCorr
  0.93FYLD Cambria Foreign SharPairCorr
  0.86SHLD Global X FundsPairCorr
  0.79IWFH iShares Virtual WorkPairCorr
  0.61EQUL IndexIQ ETF TrustPairCorr
  0.61MAGA Point Bridge GOP Low VolatilityPairCorr
  0.61XDEC First Trust ExchangePairCorr
  0.79RWJ Invesco SP SmallCapPairCorr
  0.67QQQN VictoryShares Nasdaq NextPairCorr
  0.61HYLG Global X FundsPairCorr
  0.62SEIX Virtus ETF TrustPairCorr
  0.87XLU Utilities Select Sector Aggressive PushPairCorr
  0.92OCEN IndexIQ ETF TrustPairCorr
  0.75RPAR RPAR Risk ParityPairCorr

Moving against Invesco Etf

  0.49FNGD MicroSectors FANG IndexPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
LBHIXABHYX
MSTSXDFAE
LBHIXDFAE
LBHIX444859BR2
ABHYX444859BR2
DFATDFIV
  
High negative correlations   
SCAXFBRRAY
SCAXFAQUI
LBHIXAQUI
ABHYXAQUI
MSTSXAQUI
BRRAYAQUI

Invesco FTSE Constituents Risk-Adjusted Indicators

There is a big difference between Invesco Etf performing well and Invesco FTSE 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 FTSE'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DFIV  0.64  0.00 (0.01) 0.03  0.87 
 1.09 
 3.09 
DFAT  0.80 (0.03)(0.02) 0.01  1.09 
 1.23 
 3.36 
DFAE  0.57  0.08  0.08  0.17  0.73 
 1.11 
 3.93 
444859BR2  0.45  0.02 (0.03) 0.81  0.54 
 1.12 
 2.67 
AQUI  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
BRRAY  1.97  0.12  0.02  0.43  2.81 
 4.03 
 41.85 
MSTSX  0.47  0.03  0.03  0.08  0.67 
 0.90 
 2.79 
ABHYX  0.18  0.03 (0.01) 0.30  0.00 
 0.45 
 0.92 
LBHIX  0.18  0.02 (0.03) 0.19  0.00 
 0.49 
 0.98 
SCAXF  4.43  1.58  0.00  0.46  0.00 
 0.00 
 182.60