Invesco Equity Correlations

ACEIX Fund

USD 11.05 0.06 0.55%

The current 90-days correlation between Invesco Equity And and American High Income Municipal is 0.1 (i.e., Average diversification). The correlation of Invesco Equity 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 Equity Correlation With Market

Significant diversification

The correlation between Invesco Equity And and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Equity And and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Equity And. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Invesco Mutual Fund

0.81	OARDX	Oppenheimer Rising	Pair Corr
0.64	AMHYX	Invesco High Yield	Pair Corr
0.78	OSICX	Oppenheimer Strategic	Pair Corr
0.98	OSMAX	Oppenheimer International	Pair Corr
0.98	OSMCX	Oppenheimer International	Pair Corr
0.74	HYIFX	Invesco High Yield	Pair Corr
0.64	HYINX	Invesco High Yield	Pair Corr
0.86	ILAAX	Invesco Income Allocation	Pair Corr
0.81	BRCAX	Invesco Balanced Risk	Pair Corr
0.67	BRCYX	Invesco Balanced Risk	Pair Corr
0.75	OTFCX	Oppenheimer Target	Pair Corr
0.79	EMLDX	Invesco Emerging Markets	Pair Corr
0.87	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.69	STBAX	Invesco Short Term	Pair Corr
0.83	STBYX	Invesco Short Term	Pair Corr
0.83	STBRX	Invesco Short Term	Pair Corr
0.64	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.66	MLPEX	Steelpath Select	Pair Corr
0.84	OCMIX	Oppenheimer Moderate	Pair Corr
0.62	SCAUX	Invesco Low Volatility	Pair Corr
0.73	SCCUX	Invesco Low Volatility	Pair Corr
0.63	SCIUX	Invesco Low Volatility	Pair Corr
0.99	FSIUX	Invesco Dividend Income	Pair Corr
0.81	ODICX	Oppenheimer Discovery	Pair Corr

Moving against Invesco Mutual Fund

0.55	PXCIX	Invesco Select Risk	Pair Corr
0.5	PXCCX	Invesco Select Risk	Pair Corr
0.37	DIGGX	Invesco Discovery	Pair Corr
0.34	VMICX	Invesco Municipal Income	Pair Corr
0.31	PXMQX	Invesco Select Risk	Pair Corr
0.94	ODVCX	Oppenheimer Developing	Pair Corr
0.81	ODVIX	Oppenheimer Developing	Pair Corr
0.72	INDFX	Invesco International	Pair Corr
0.72	INGFX	Invesco Oppenheimer	Pair Corr
0.72	GFFDX	Invesco Global Focus	Pair Corr

Related Correlations Analysis

	ABHFX	ESIIX	HBLRX	HBLVX	HBLTX	PFIAX	PFIIX	TSIIX	ACSRX	INPFX
ABHFX		0.76	-0.02	-0.01	0.07	0.42	0.39	0.73	0.08	0.39	ABHFX
ESIIX	0.76		0.47	0.48	0.53	0.74	0.74	0.92	0.54	0.5	ESIIX
HBLRX	-0.02	0.47		1.0	0.92	0.65	0.68	0.45	0.85	0.28	HBLRX
HBLVX	-0.01	0.48	1.0		0.92	0.67	0.69	0.47	0.86	0.3	HBLVX
HBLTX	0.07	0.53	0.92	0.92		0.67	0.69	0.5	0.92	0.29	HBLTX
PFIAX	0.42	0.74	0.65	0.67	0.67		1.0	0.7	0.71	0.45	PFIAX
PFIIX	0.39	0.74	0.68	0.69	0.69	1.0		0.7	0.73	0.46	PFIIX
TSIIX	0.73	0.92	0.45	0.47	0.5	0.7	0.7		0.51	0.54	TSIIX
ACSRX	0.08	0.54	0.85	0.86	0.92	0.71	0.73	0.51		0.34	ACSRX
INPFX	0.39	0.5	0.28	0.3	0.29	0.45	0.46	0.54	0.34		INPFX
	ABHFX	ESIIX	HBLRX	HBLVX	HBLTX	PFIAX	PFIIX	TSIIX	ACSRX	INPFX

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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

HBLVX	+ 1.0	HBLRX
PFIIX	+ 1.0	PFIAX
TSIIX	+ 0.92	ESIIX
HBLTX	+ 0.92	HBLRX
HBLTX	+ 0.92	HBLVX
ACSRX	+ 0.92	HBLTX

High negative correlations

HBLRX	- 0.02	ABHFX
HBLVX	- 0.01	ABHFX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Equity Mutual Fund 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 Equity'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
ABHFX	0.08	0.01	(0.50)	(1.99)	0.00	(0.13)	0.20	(0.13)	0.59
ESIIX	0.11	0.02	(0.20)	0.63	0.00	(0.17)	0.29	(0.15)	0.87
HBLRX	0.35	0.06	0.01	0.29	0.10	(0.45)	0.65	(0.57)	5.35
HBLVX	0.36	0.06	0.01	0.28	0.13	(0.46)	0.71	(0.56)	5.42
HBLTX	0.36	0.00	0.03	0.00	0.08	(0.46)	0.65	(0.57)	5.48
PFIAX	0.07	0.01	(0.40)	0.31	0.00	(0.16)	0.12	(0.12)	0.73
PFIIX	0.08	0.01	(0.39)	0.34	0.00	(0.16)	0.12	(0.12)	0.73
TSIIX	0.10	0.00	(0.48)	0.09	0.00	(0.14)	0.26	(0.17)	0.61
ACSRX	0.69	0.18	0.18	0.61	0.41	(0.86)	1.35	(0.92)	9.42
INPFX	0.34	(0.06)	0.00	(0.06)	0.00	0.00	0.55	(0.62)	3.83

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