Invesco Global Correlations

Mutual Funds USA . 
Fund . Invesco Global Health
GGHCX Fund  USD 37.84  0.02  0.05%   
The current 90-days correlation between Invesco Global Health and Transamerica Short Term Bond is 0.12 (i.e., Average diversification). The correlation of Invesco Global 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 Global Correlation With Market

Very weak diversification

The correlation between Invesco Global Health and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Health and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Global Health. 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 main economic indicators.

Moving together with Invesco Mutual Fund

  0.82OARDX Oppenheimer RisingPairCorr
  0.77PXMSX Invesco Select RiskPairCorr
  0.63IOGYX Invesco Gold SpecialPairCorr
  0.66OGMCX Oppenheimer Gold SpecialPairCorr
  0.81OIDAX Oppenheimer InternationalPairCorr
  0.83IARRX Invesco Real EstatePairCorr
  0.83REINX Invesco Real EstatePairCorr
  0.79CMASX Invesco ConservativePairCorr
  0.72ITYYX Invesco TechnologyPairCorr
  0.83CNSDX Invesco Vertible SecPairCorr
  0.81CNSCX Invesco Vertible SecPairCorr
  0.75IEGFX Invesco InternationalPairCorr
  0.75IEGYX Invesco InternationalPairCorr
  0.7IEFCX Invesco EnergyPairCorr
  0.69ONYCX Oppenheimer RochesterPairCorr
  0.89DDFIX Invesco DiversifiedPairCorr
  0.95GTHCX Invesco Global HealthPairCorr
  0.74VGHAX Vanguard Health CarePairCorr
  0.74VGHCX Vanguard Health CarePairCorr
  0.82PRHSX T Rowe PricePairCorr
  0.86THISX T Rowe PricePairCorr
  0.81VHCIX Vanguard Health CarePairCorr
  0.95SHISX Blackrock Health SciencesPairCorr
  0.94SHSCX Blackrock Health SciencesPairCorr
  0.95SHSAX Blackrock Health SciencesPairCorr
  0.95SHSSX Blackrock Health SciencesPairCorr
  0.7FSPHX Health Care PortfolioPairCorr
  0.66USGFX Us Government SecuritiesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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