Invesco Asia Correlations

Mutual Funds . USA . 
Fund . Invesco Asia Pacific
ASIAX Fund  USD 27.10  0.29  1.08%   
The current 90-days correlation between Invesco Asia Pacific and Stringer Growth Fund is 0.35 (i.e., Weak diversification). The correlation of Invesco Asia 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 Asia Correlation With Market

Average diversification

The correlation between Invesco Asia Pacific and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Asia Pacific 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 Asia Pacific. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Invesco Mutual Fund

  0.97MAPTX Matthews Pacific TigerPairCorr
  0.97MIPTX Matthews Pacific TigerPairCorr
  0.78PRASX T Rowe PricePairCorr
  0.87FSEAX Fidelity Emerging AsiaPairCorr
  0.93IFN India ClosedPairCorr
  0.67XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.78AA Alcoa CorpPairCorr
  0.76DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.65TRV The Travelers CompaniesPairCorr
  0.8HPQ HP IncPairCorr

Moving against Invesco Mutual Fund

  0.66CII Blackrock EnhancedPairCorr
  0.52ETY Eaton Vance TaxPairCorr
  0.51ETV Eaton Vance TaxPairCorr
  0.33CLM Cornerstone StrategicPairCorr
  0.67BA BoeingPairCorr
  0.59VZ Verizon CommunicationsPairCorr
  0.53CSCO Cisco SystemsPairCorr
  0.36MMM 3M CompanyPairCorr

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   
GGRYX
+ 0.98
SRGAX
HSUAX
+ 0.87
VGIAX
HSUAX
+ 0.83
HGOFX
EIPIX
+ 0.79
SRGAX
EIPIX
+ 0.77
GGRYX
HGOFX
+ 0.75
VGIAX
  
High negative correlations   
EIPIX
- 0.16
HGOFX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Asia 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 Asia'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.

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