Invesco Short-term Correlations

AGPXX Fund

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The current 90-days correlation between Invesco Short Term and Transamerica High Yield is 0.35 (i.e., Weak diversification). The correlation of Invesco Short-term 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 Short-term Correlation With Market

Good diversification

The correlation between Invesco Short Term Investments and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Short Term Investments 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 Short Term Investments. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Invesco Money Market Fund

0.64	IBM	International Business Tech Boost	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.83	WMT	Walmart Aggressive Push	Pair Corr
0.85	BA	Boeing	Pair Corr

Moving against Invesco Money Market Fund

0.86	INTC	Intel	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.71	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.67	PFHCX	Pacific Funds Small	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr
0.5	KO	Coca Cola Earnings Call This Week	Pair Corr
0.45	VZ	Verizon Communications	Pair Corr
0.41	NHS	Neuberger Berman High	Pair Corr
0.38	CAT	Caterpillar Earnings Call This Week	Pair Corr

Related Correlations Analysis

	TAHFX	GHVIX	NEAIX	CWFIX	AQRRX	AGDAX	SGYAX
TAHFX		0.94	0.75	0.89	0.89	0.96	0.92	TAHFX
GHVIX	0.94		0.77	0.93	0.97	0.92	0.87	GHVIX
NEAIX	0.75	0.77		0.69	0.79	0.74	0.67	NEAIX
CWFIX	0.89	0.93	0.69		0.92	0.93	0.93	CWFIX
AQRRX	0.89	0.97	0.79	0.92		0.87	0.83	AQRRX
AGDAX	0.96	0.92	0.74	0.93	0.87		0.94	AGDAX
SGYAX	0.92	0.87	0.67	0.93	0.83	0.94		SGYAX
	TAHFX	GHVIX	NEAIX	CWFIX	AQRRX	AGDAX	SGYAX

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Risk-Adjusted Indicators

There is a big difference between Invesco Money Market Fund performing well and Invesco Short-term Money Market 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 Short-term'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
TAHFX	0.14	0.02	(0.22)	12.87	0.00	(0.22)	0.37	(0.24)	1.22
GHVIX	0.14	0.02	(0.18)	1.61	0.08	(0.17)	0.24	(0.36)	0.96
NEAIX	1.17	0.05	0.01	0.16	1.48	(1.24)	2.28	(2.27)	9.37
CWFIX	0.08	0.01	(0.37)	1.75	0.00	(0.13)	0.21	(0.11)	0.42
AQRRX	0.43	0.07	0.00	0.99	0.46	(0.51)	0.93	(0.86)	3.04
AGDAX	0.13	0.02	(0.20)	3.84	0.00	(0.26)	0.44	(0.29)	1.15
SGYAX	0.15	0.02	(0.22)	(1.29)	0.00	(0.26)	0.56	(0.28)	1.27

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