Invesco Floating Correlations

Mutual Funds . USA . 
Fund . Invesco Floating Rate
AFRFX Fund  USD 6.69  0.02  0.30%   
The current 90-days correlation between Invesco Floating Rate and Invesco Municipal Income is 0.15 (i.e., Average 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

Good diversification

The correlation between Invesco Floating Rate and DJI is -0.07 (i.e., Good 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

  0.69OTFCX Oppenheimer TargetPairCorr
  0.72MLPRX Oppenheimer Steelpath MlpPairCorr
  0.73MLPDX Oppenheimer Steelpath MlpPairCorr
  0.76MLPAX Oppenheimer Steelpath MlpPairCorr
  0.76MLPGX Oppenheimer Steelpath MlpPairCorr
  0.75MLPFX Oppenheimer Steelpath MlpPairCorr
  0.75MLPEX Steelpath SelectPairCorr
  0.74MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.68OSMAX Oppenheimer InternationalPairCorr
  0.68OSMCX Oppenheimer InternationalPairCorr
  0.57BRCCX Invesco Balanced RiskPairCorr
  0.55BRCRX Invesco Balanced RiskPairCorr
  0.55BRCAX Invesco Balanced RiskPairCorr
  0.54BRCNX Invesco Balanced RiskPairCorr
  0.53OSICX Oppenheimer StrategicPairCorr
  0.73EMLDX Invesco Emerging MarketsPairCorr
  0.54BRCYX Invesco Balanced RiskPairCorr
  0.64INGFX Invesco OppenheimerPairCorr
  0.63INDFX Invesco InternationalPairCorr
  0.48INBQX Aim Investment FundsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.20 (0.04) 0.00 (2.93) 0.00 
 0.00 
 0.34 
(0.50)
 1.68 
VMINX  0.19 (0.03) 0.00 (1.87) 0.00 
 0.00 
 0.41 
(0.49)
 1.59 
VMIIX  0.20 (0.03) 0.00 (0.51) 0.00 
 0.00 
 0.33 
(0.49)
 1.59 
OARDX  0.65 (0.13) 0.00 (0.69) 0.00 
 0.00 
 0.89 
(0.93)
 12.98 
AMHYX  0.10 (0.01) 0.00 (1.36) 0.00 
 0.00 
 0.28 
(0.28)
 0.84 
OSICX  0.23 (0.07) 0.00 (18.25) 0.00 
 0.00 
 0.63 
(0.64)
 1.94 
OSMAX  0.72 (0.32) 0.00 (2.20) 0.00 
 0.00 
 0.97 
(1.25)
 12.61 
OSMCX  0.73 (0.33) 0.00 (2.26) 0.00 
 0.00 
 0.98 
(1.22)
 13.19 
HYIFX  0.13 (0.02) 0.00 (0.44) 0.00 
 0.00 
 0.28 
(0.28)
 1.12 
HYINX  0.12 (0.02) 0.00 (0.52) 0.00 
 0.00 
 0.28 
(0.28)
 1.12 

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