Invesco Summit Correlations

ASMMX Fund

USD 27.85 0.04 0.14%

The current 90-days correlation between Invesco Summit and Icon Financial Fund is 0.05 (i.e., Significant diversification). The correlation of Invesco Summit 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 Summit Correlation With Market

Average diversification

The correlation between Invesco Summit Fund and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Summit Fund 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 Summit Fund. 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 board of governors.

Moving together with Invesco Mutual Fund

0.81	OARDX	Oppenheimer Rising	Pair Corr
0.75	AMHYX	Invesco High Yield	Pair Corr
0.72	OSICX	Oppenheimer Strategic	Pair Corr
0.8	OSMAX	Oppenheimer International	Pair Corr
0.78	OSMCX	Oppenheimer International	Pair Corr
0.74	HYIFX	Invesco High Yield	Pair Corr
0.75	HYINX	Invesco High Yield	Pair Corr
0.78	ILAAX	Invesco Income Allocation	Pair Corr
0.79	PXCCX	Invesco Select Risk	Pair Corr
0.86	BRCRX	Invesco Balanced Risk	Pair Corr
0.86	BRCNX	Invesco Balanced Risk	Pair Corr
0.78	PXCIX	Invesco Select Risk	Pair Corr
0.87	BRCCX	Invesco Balanced Risk	Pair Corr
0.86	BRCAX	Invesco Balanced Risk	Pair Corr
0.86	BRCYX	Invesco Balanced Risk	Pair Corr
0.91	PXGGX	Invesco Select Risk	Pair Corr
0.99	OTFCX	Oppenheimer Target	Pair Corr
0.7	EMLDX	Invesco Emerging Markets	Pair Corr
0.89	PXMQX	Invesco Select Risk	Pair Corr
0.8	PXMSX	Invesco Select Risk	Pair Corr
0.93	DIGGX	Invesco Discovery	Pair Corr
0.89	PXMMX	Invesco Select Risk	Pair Corr
0.91	PXQIX	Invesco Select Risk	Pair Corr
0.92	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.77	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.72	STBAX	Invesco Short Term	Pair Corr
0.73	STBCX	Invesco Short Term	Pair Corr
0.72	STBYX	Invesco Short Term	Pair Corr
0.71	STBRX	Invesco Short Term	Pair Corr

Moving against Invesco Mutual Fund

0.63

INGFX

Invesco Oppenheimer

Pair Corr

Related Correlations Analysis

	ICFAX	FTIXX	VFAIX	DVFYX	SBFAX
ICFAX		0.0	0.91	0.92	0.86	ICFAX
FTIXX	0.0		0.0	0.0	0.0	FTIXX
VFAIX	0.91	0.0		0.96	0.91	VFAIX
DVFYX	0.92	0.0	0.96		0.96	DVFYX
SBFAX	0.86	0.0	0.91	0.96		SBFAX
	ICFAX	FTIXX	VFAIX	DVFYX	SBFAX

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

DVFYX	+ 0.96	VFAIX
SBFAX	+ 0.96	DVFYX
DVFYX	+ 0.92	ICFAX
VFAIX	+ 0.91	ICFAX
SBFAX	+ 0.91	VFAIX
SBFAX	+ 0.86	ICFAX

High negative correlations

SBFAX	- 0.0	FTIXX
DVFYX	- 0.0	FTIXX
VFAIX	- 0.0	FTIXX
FTIXX	- 0.0	ICFAX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Summit 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 Summit'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
ICFAX	0.87	0.14	0.18	0.21	0.54	(1.19)	1.66	(1.16)	14.63
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VFAIX	0.71	(0.05)	(0.05)	0.01	1.07	(0.67)	1.35	(1.77)	3.99
DVFYX	0.68	0.09	0.08	0.16	0.78	(0.71)	1.62	(1.26)	3.70
SBFAX	0.93	0.23	0.19	0.45	0.68	(1.14)	1.70	(1.46)	18.32

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