Invesco Short Correlations

The current 90-days correlation between Invesco Short Duration and Mainstay Vertible Fund is 0.03 (i.e., Significant diversification). The correlation of Invesco Short 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 Short Correlation With Market

Very weak diversification

The correlation between Invesco Short Duration and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Short Duration 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. 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

0.75	VMINX	Invesco Municipal Income	Pair Corr
0.73	VMIIX	Invesco Municipal Income	Pair Corr
0.73	OARDX	Oppenheimer Rising	Pair Corr
0.86	AMHYX	Invesco High Yield	Pair Corr
0.91	OSICX	Oppenheimer Strategic	Pair Corr
0.63	PXCIX	Invesco Select Risk	Pair Corr
0.85	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	SCAUX	Invesco Low Volatility	Pair Corr

Moving against Invesco Mutual Fund

0.31

ODVCX

Oppenheimer Developing

Pair Corr

Related Correlations Analysis

	PHIKX	FISCX	FSAWX	WESIX	MCCVX
PHIKX		0.9	0.91	0.92	0.81	PHIKX
FISCX	0.9		0.82	0.88	0.9	FISCX
FSAWX	0.91	0.82		0.77	0.84	FSAWX
WESIX	0.92	0.88	0.77		0.75	WESIX
MCCVX	0.81	0.9	0.84	0.75		MCCVX
	PHIKX	FISCX	FSAWX	WESIX	MCCVX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Short 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 Short'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
PHIKX	0.73	0.03	0.01	0.11	0.89	(0.76)	1.68	(1.62)	3.73
FISCX	0.49	0.05	0.01	0.43	0.51	(0.54)	0.99	(1.00)	2.54
FSAWX	0.11	0.03	(0.13)	1.14	0.00	(0.14)	0.19	(0.09)	0.65
WESIX	0.97	0.06	0.05	0.12	1.05	(1.13)	1.74	(1.93)	9.37
MCCVX	0.65	0.22	0.25	(11.16)	0.31	(0.80)	1.08	(1.14)	8.19

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