Invesco Developing Correlations

GTDIX Fund

USD 36.59 0.19 0.52%

The current 90-days correlation between Invesco Developing and Gabelli Convertible And is 0.11 (i.e., Average diversification). The correlation of Invesco Developing 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 Developing Correlation With Market

Weak diversification

The correlation between Invesco Developing Markets and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Developing Markets 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 Developing Markets. 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 gross domestic product.

Moving together with Invesco Mutual Fund

0.7	OARDX	Oppenheimer Rising	Pair Corr
0.75	OSMAX	Oppenheimer International	Pair Corr
0.77	OSMCX	Oppenheimer International	Pair Corr
0.78	ILAAX	Invesco Income Allocation	Pair Corr
0.81	BRCRX	Invesco Balanced Risk	Pair Corr
0.8	BRCNX	Invesco Balanced Risk	Pair Corr
0.81	BRCCX	Invesco Balanced Risk	Pair Corr
0.87	BRCAX	Invesco Balanced Risk	Pair Corr
0.8	BRCYX	Invesco Balanced Risk	Pair Corr
0.69	OTFCX	Oppenheimer Target	Pair Corr
0.91	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.77	STBAX	Invesco Short Term	Pair Corr
0.78	STBYX	Invesco Short Term	Pair Corr
0.78	STBRX	Invesco Short Term	Pair Corr

Moving against Invesco Mutual Fund

0.74	PXCCX	Invesco Select Risk	Pair Corr
0.74	PXCIX	Invesco Select Risk	Pair Corr
0.6	VMICX	Invesco Municipal Income	Pair Corr
0.5	VMIIX	Invesco Municipal Income	Pair Corr
0.48	VMINX	Invesco Municipal Income	Pair Corr
0.53	DIGGX	Invesco Discovery	Pair Corr
0.49	PXMMX	Invesco Select Risk	Pair Corr
0.48	PXMQX	Invesco Select Risk	Pair Corr
0.47	PXMSX	Invesco Select Risk	Pair Corr
0.44	PXGGX	Invesco Select Risk	Pair Corr
0.41	PXQIX	Invesco Select Risk	Pair Corr
0.84	INGFX	Invesco Oppenheimer	Pair Corr
0.82	INDFX	Invesco International	Pair Corr

Related Correlations Analysis

	GCV	XNCVX	PBXIX	LCFYX	FSAWX	CCD
GCV		0.79	0.43	0.9	-0.58	0.92	GCV
XNCVX	0.79		0.48	0.77	-0.27	0.81	XNCVX
PBXIX	0.43	0.48		0.63	-0.05	0.54	PBXIX
LCFYX	0.9	0.77	0.63		-0.52	0.93	LCFYX
FSAWX	-0.58	-0.27	-0.05	-0.52		-0.57	FSAWX
CCD	0.92	0.81	0.54	0.93	-0.57		CCD
	GCV	XNCVX	PBXIX	LCFYX	FSAWX	CCD

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

CCD	+ 0.93	LCFYX
CCD	+ 0.92	GCV
LCFYX	+ 0.9	GCV
CCD	+ 0.81	XNCVX
XNCVX	+ 0.79	GCV
LCFYX	+ 0.77	XNCVX

High negative correlations

FSAWX	- 0.58	GCV
CCD	- 0.57	FSAWX
FSAWX	- 0.52	LCFYX
FSAWX	- 0.27	XNCVX
FSAWX	- 0.05	PBXIX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Developing 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 Developing'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
GCV	0.81	(0.01)	(0.06)	0.10	0.92	(0.90)	2.13	(1.68)	4.42
XNCVX	0.77	0.00	(0.09)	0.11	0.94	(0.91)	1.60	(1.74)	5.47
PBXIX	0.35	(0.02)	(0.15)	0.07	0.45	(0.36)	0.64	(0.73)	2.34
LCFYX	0.82	0.01	(0.01)	0.12	0.91	(0.91)	1.99	(1.77)	4.63
FSAWX	0.25	(0.08)	0.00	1.09	0.00	0.00	0.26	(0.26)	7.53
CCD	0.83	(0.02)	(0.02)	0.09	0.96	(0.86)	1.73	(1.57)	4.60

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