Invesco European Correlations

Mutual Funds . USA . 
Fund . Invesco European Small
ESMYX Fund  USD 13.62  0.37  2.79%   
The current 90-days correlation between Invesco European Small and Vy Goldman Sachs is 0.17 (i.e., Average diversification). The correlation of Invesco European 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 European Correlation With Market

Very poor diversification

The correlation between Invesco European Small and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco European Small and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco European Small. 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 producer price index.

Moving together with Invesco Mutual Fund

  0.89OARDX Oppenheimer RisingPairCorr
  0.85AMHYX Invesco High YieldPairCorr
  0.88OSICX Oppenheimer StrategicPairCorr
  0.9OSMAX Oppenheimer InternationalPairCorr
  0.88OSMCX Oppenheimer InternationalPairCorr
  0.83HYIFX Invesco High YieldPairCorr
  0.84HYINX Invesco High YieldPairCorr
  0.89ILAAX Invesco Income AllocationPairCorr
  0.88PXCCX Invesco Select RiskPairCorr
  0.9BRCRX Invesco Balanced RiskPairCorr
  0.9BRCNX Invesco Balanced RiskPairCorr
  0.87PXCIX Invesco Select RiskPairCorr
  0.91BRCCX Invesco Balanced RiskPairCorr
  0.9BRCAX Invesco Balanced RiskPairCorr
  0.9BRCYX Invesco Balanced RiskPairCorr
  0.97PXGGX Invesco Select RiskPairCorr
  0.96OTFCX Oppenheimer TargetPairCorr
  0.82EMLDX Invesco Emerging MarketsPairCorr
  0.95PXMQX Invesco Select RiskPairCorr
  0.87PXMSX Invesco Select RiskPairCorr
  0.99DIGGX Invesco DiscoveryPairCorr
  0.95PXMMX Invesco Select RiskPairCorr
  0.97PXQIX Invesco Select RiskPairCorr
  0.97OCAIX Oppenheimer AggrssvPairCorr
  0.86OCCIX Oppenheimer CnsrvtvPairCorr
  0.84STBAX Invesco Short TermPairCorr
  0.86STBCX Invesco Short TermPairCorr
  0.66MLPRX Oppenheimer Steelpath MlpPairCorr
  0.84STBYX Invesco Short TermPairCorr
  0.86STBRX Invesco Short TermPairCorr
  0.65MLPDX Oppenheimer Steelpath MlpPairCorr
  0.67MLPAX Oppenheimer Steelpath MlpPairCorr
  0.67MLPGX Oppenheimer Steelpath MlpPairCorr
  0.67MLPFX Oppenheimer Steelpath MlpPairCorr
  0.67MLPEX Steelpath SelectPairCorr
  0.67MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.73INGFX Invesco OppenheimerPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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