Invesco International Correlations

INDFX Fund

USD 16.09 0.01 0.06%

The current 90-days correlation between Invesco International and John Hancock Financial is 0.15 (i.e., Average diversification). The correlation of Invesco International 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 International Correlation With Market

Very weak diversification

The correlation between Invesco International Diversif and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco International Diversif 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 International Diversified. 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 census.

Moving together with Invesco Mutual Fund

0.77	OSICX	Oppenheimer Strategic	Pair Corr
0.93	OSMAX	Oppenheimer International	Pair Corr
0.93	OSMCX	Oppenheimer International	Pair Corr
0.68	PXCCX	Invesco Select Risk	Pair Corr
0.7	PXCIX	Invesco Select Risk	Pair Corr
0.86	EMLDX	Invesco Emerging Markets	Pair Corr
0.71	OCCIX	Oppenheimer Cnsrvtv	Pair Corr

Moving against Invesco Mutual Fund

0.44	OARDX	Oppenheimer Rising	Pair Corr
0.4	OTFCX	Oppenheimer Target	Pair Corr
0.35	DIGGX	Invesco Discovery	Pair Corr
0.67	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.66	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.66	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.58	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.58	MLPEX	Steelpath Select	Pair Corr
0.44	SCAYX	Invesco Low Volatility	Pair Corr
0.44	SCAUX	Invesco Low Volatility	Pair Corr
0.44	SCIUX	Invesco Low Volatility	Pair Corr

Related Correlations Analysis

	BTO	RGFIX	FNPIX	XFINX	MCBXX	VFAIX
BTO		-0.16	0.95	0.63	0.32	0.98	BTO
RGFIX	-0.16		-0.15	-0.38	-0.31	-0.17	RGFIX
FNPIX	0.95	-0.15		0.65	0.4	0.96	FNPIX
XFINX	0.63	-0.38	0.65		0.8	0.67	XFINX
MCBXX	0.32	-0.31	0.4	0.8		0.38	MCBXX
VFAIX	0.98	-0.17	0.96	0.67	0.38		VFAIX
	BTO	RGFIX	FNPIX	XFINX	MCBXX	VFAIX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

VFAIX	+ 0.98	BTO
VFAIX	+ 0.96	FNPIX
FNPIX	+ 0.95	BTO
MCBXX	+ 0.8	XFINX
VFAIX	+ 0.67	XFINX
XFINX	+ 0.65	FNPIX

High negative correlations

XFINX	- 0.38	RGFIX
MCBXX	- 0.31	RGFIX
VFAIX	- 0.17	RGFIX
RGFIX	- 0.16	BTO
FNPIX	- 0.15	RGFIX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco International 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 International'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
BTO	0.95	0.16	0.19	0.19	0.72	(1.08)	2.02	(1.32)	9.88
RGFIX	0.39	(0.21)	0.00	14.52	0.00	0.00	0.00	0.00	12.95
FNPIX	1.06	0.28	0.15	(1.21)	0.90	(1.14)	2.09	(1.83)	11.72
XFINX	0.11	0.02	(0.15)	1.48	0.13	(0.13)	0.22	(0.14)	1.15
MCBXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
VFAIX	0.76	0.10	0.15	0.16	0.54	(0.88)	1.77	(1.22)	8.51

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC