Invesco Floating Correlations

AFRFX Fund

USD 6.69 0.01 0.15%

The current 90-days correlation between Invesco Floating Rate and Furyax is -0.04 (i.e., Good diversification). The correlation of Invesco Floating 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 Floating Correlation With Market

Significant diversification

The correlation between Invesco Floating Rate and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Floating Rate 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 Floating Rate. 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 census.

Moving together with Invesco Mutual Fund

0.69	OSICX	Oppenheimer Strategic	Pair Corr
0.92	STBAX	Invesco Short Term	Pair Corr
0.92	STBCX	Invesco Short Term	Pair Corr
0.74	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	STBYX	Invesco Short Term	Pair Corr
0.93	STBRX	Invesco Short Term	Pair Corr
0.76	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.73	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	MLPEX	Steelpath Select	Pair Corr
0.68	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Invesco Mutual Fund

0.72	OSMCX	Oppenheimer International	Pair Corr
0.71	OSMAX	Oppenheimer International	Pair Corr
0.68	OARDX	Oppenheimer Rising	Pair Corr
0.46	EMLDX	Invesco Emerging Markets	Pair Corr
0.43	DIGGX	Invesco Discovery	Pair Corr
0.4	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.36	PXGGX	Invesco Select Risk	Pair Corr
0.36	PXQIX	Invesco Select Risk	Pair Corr
0.71	OCRDX	Oppenheimer Rising	Pair Corr
0.71	INGFX	Invesco Oppenheimer	Pair Corr
0.64	INDFX	Invesco International	Pair Corr

Related Correlations Analysis

	FURYAX	MFTFX	FDZBPX	WABMSX	FBJYGX	HDCAX
FURYAX		-0.27	0.78	0.82	0.8	0.33	FURYAX
MFTFX	-0.27		-0.38	-0.31	-0.36	0.64	MFTFX
FDZBPX	0.78	-0.38		0.84	0.88	0.19	FDZBPX
WABMSX	0.82	-0.31	0.84		0.82	0.28	WABMSX
FBJYGX	0.8	-0.36	0.88	0.82		0.2	FBJYGX
HDCAX	0.33	0.64	0.19	0.28	0.2		HDCAX
	FURYAX	MFTFX	FDZBPX	WABMSX	FBJYGX	HDCAX

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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

FBJYGX	+ 0.88	FDZBPX
WABMSX	+ 0.84	FDZBPX
WABMSX	+ 0.82	FURYAX
FBJYGX	+ 0.82	WABMSX
FBJYGX	+ 0.8	FURYAX
FDZBPX	+ 0.78	FURYAX

High negative correlations

FDZBPX	- 0.38	MFTFX
FBJYGX	- 0.36	MFTFX
WABMSX	- 0.31	MFTFX
MFTFX	- 0.27	FURYAX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Floating 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 Floating'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
FURYAX	0.57	0.15	0.12	1.02	0.47	(0.74)	1.18	(1.06)	2.27
MFTFX	1.03	0.15	0.04	(0.91)	1.43	(1.02)	1.88	(2.26)	5.15
FDZBPX	0.38	0.06	(0.01)	0.70	0.51	(0.45)	0.70	(0.70)	2.21
WABMSX	0.52	0.13	0.10	0.70	0.43	(0.62)	1.13	(0.86)	2.33
FBJYGX	0.54	0.11	0.07	0.84	0.51	(0.59)	1.27	(1.04)	2.57
HDCAX	0.49	0.05	0.00	0.25	0.53	(0.57)	0.95	(0.83)	3.80

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