Invesco Energy Correlations

FSTEX Fund

USD 35.00 0.48 1.39%

The current 90-days correlation between Invesco Energy and Target Retirement 2040 is 0.36 (i.e., Weak diversification). The correlation of Invesco Energy 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 Energy Correlation With Market

Very weak diversification

The correlation between Invesco Energy Fund and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Energy Fund 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 Energy 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 housing.

Moving together with Invesco Mutual Fund

0.73	AMHYX	Invesco High Yield	Pair Corr
0.71	OSICX	Oppenheimer Strategic	Pair Corr
0.7	HYINX	Invesco High Yield	Pair Corr
0.72	PXCCX	Invesco Select Risk	Pair Corr
0.87	BRCRX	Invesco Balanced Risk Steady Growth	Pair Corr
0.88	BRCNX	Invesco Balanced Risk Steady Growth	Pair Corr
0.86	BRCCX	Invesco Balanced Risk Steady Growth	Pair Corr
0.87	BRCAX	Invesco Balanced Risk Steady Growth	Pair Corr
0.87	BRCYX	Invesco Balanced Risk Steady Growth	Pair Corr
0.87	EMLDX	Invesco Emerging Markets	Pair Corr
0.69	PXMMX	Invesco Select Risk	Pair Corr
0.71	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.93	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPEX	Steelpath Select	Pair Corr
0.93	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	OCMIX	Oppenheimer Moderate	Pair Corr
0.79	STMUX	Invesco Short Term	Pair Corr
0.8	INBQX	Aim Investment Funds	Pair Corr
0.69	ODIIX	Oppenheimer Discovery	Pair Corr

Moving against Invesco Mutual Fund

0.37	ODVCX	Oppenheimer Developing	Pair Corr
0.35	ODVIX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	ASTCX	SRJIX	SAWMX	JTSQX	MGDCX	TSIMX	VRRJX	URFRX
ASTCX		0.94	0.95	0.95	0.93	0.98	0.92	0.96	ASTCX
SRJIX	0.94		0.94	1.0	0.92	0.96	0.89	0.98	SRJIX
SAWMX	0.95	0.94		0.94	0.98	0.95	0.97	0.95	SAWMX
JTSQX	0.95	1.0	0.94		0.93	0.96	0.9	0.98	JTSQX
MGDCX	0.93	0.92	0.98	0.93		0.94	0.99	0.92	MGDCX
TSIMX	0.98	0.96	0.95	0.96	0.94		0.92	0.97	TSIMX
VRRJX	0.92	0.89	0.97	0.9	0.99	0.92		0.9	VRRJX
URFRX	0.96	0.98	0.95	0.98	0.92	0.97	0.9		URFRX
	ASTCX	SRJIX	SAWMX	JTSQX	MGDCX	TSIMX	VRRJX	URFRX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Energy 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 Energy'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
ASTCX	0.47	0.11	0.13	0.64	0.26	(0.63)	0.91	(0.81)	7.06
SRJIX	0.42	0.06	0.06	0.17	0.33	(0.46)	0.83	(0.73)	4.59
SAWMX	0.37	0.12	0.21	0.35	0.00	(0.47)	0.70	(0.59)	4.02
JTSQX	0.51	0.07	0.07	0.15	0.51	(0.55)	1.05	(1.00)	4.95
MGDCX	0.48	0.08	0.10	0.18	0.40	(0.56)	0.99	(0.93)	5.22
TSIMX	0.41	0.07	0.09	0.19	0.24	(0.51)	0.74	(0.73)	5.80
VRRJX	0.49	0.13	0.17	0.30	0.26	(0.58)	0.86	(0.91)	8.22
URFRX	0.44	0.11	0.15	0.27	0.26	(0.51)	0.97	(0.97)	5.02

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