Invesco Municipal Correlations

OIA Stock

USD 6.14 0.01 0.16%

The current 90-days correlation between Invesco Municipal Income and DWS Municipal Income is 0.43 (i.e., Very weak diversification). The correlation of Invesco Municipal 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.

Invesco Municipal Correlation With Market

Significant diversification

The correlation between Invesco Municipal Income and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Municipal Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Municipal Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Invesco Stock

0.89	WD	Walker Dunlop	Pair Corr
0.69	BEN	Franklin Resources	Pair Corr
0.84	RKT	Rocket Companies	Pair Corr
0.62	UWMC	UWM Holdings Corp	Pair Corr
0.7	DHIL	Diamond Hill Investment	Pair Corr
0.74	CB	Chubb Sell-off Trend	Pair Corr

Moving against Invesco Stock

0.81	GECC	Great Elm Capital	Pair Corr
0.78	MAIN	Main Street Capital	Pair Corr
0.59	ARCC	Ares Capital Earnings Call This Week	Pair Corr
0.59	ARES	Ares Management LP Earnings Call This Week	Pair Corr
0.55	GCMG	GCM Grosvenor	Pair Corr
0.5	AXP	American Express	Pair Corr
0.5	V	Visa Class A	Pair Corr
0.49	C	Citigroup Earnings Call This Week	Pair Corr
0.71	LX	Lexinfintech Holdings Trending	Pair Corr
0.66	RM	Regional Management Corp Earnings Call This Week	Pair Corr
0.5	GL	Globe Life Earnings Call This Week	Pair Corr
0.49	LC	LendingClub Corp	Pair Corr
0.4	HG	Hamilton Insurance Group,	Pair Corr
0.38	DB	Deutsche Bank AG	Pair Corr
0.37	QD	Qudian Inc	Pair Corr

Related Correlations Analysis

	KTF	MFM	CXE	MYD	CXH	EOT	MVT	DTF	MVF	MQT
KTF		0.92	0.85	0.92	0.86	0.77	0.88	0.41	0.84	0.89	KTF
MFM	0.92		0.89	0.94	0.81	0.87	0.94	0.46	0.87	0.94	MFM
CXE	0.85	0.89		0.9	0.81	0.9	0.86	0.39	0.76	0.9	CXE
MYD	0.92	0.94	0.9		0.76	0.9	0.95	0.42	0.86	0.93	MYD
CXH	0.86	0.81	0.81	0.76		0.64	0.76	0.55	0.79	0.81	CXH
EOT	0.77	0.87	0.9	0.9	0.64		0.85	0.28	0.69	0.86	EOT
MVT	0.88	0.94	0.86	0.95	0.76	0.85		0.5	0.93	0.94	MVT
DTF	0.41	0.46	0.39	0.42	0.55	0.28	0.5		0.56	0.46	DTF
MVF	0.84	0.87	0.76	0.86	0.79	0.69	0.93	0.56		0.88	MVF
MQT	0.89	0.94	0.9	0.93	0.81	0.86	0.94	0.46	0.88		MQT
	KTF	MFM	CXE	MYD	CXH	EOT	MVT	DTF	MVF	MQT

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Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco Municipal Company 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 Municipal'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
KTF	0.42	(0.03)	0.00	(0.08)	0.00	0.00	0.97	(0.94)	2.84
MFM	0.50	(0.03)	0.00	(0.08)	0.00	0.00	1.09	(1.11)	3.32
CXE	0.58	(0.05)	0.00	4.08	0.00	0.00	1.58	(1.33)	3.80
MYD	0.54	(0.07)	0.00	(0.21)	0.00	0.00	1.01	(1.09)	3.23
CXH	0.43	(0.01)	(0.12)	(0.29)	0.68	(0.40)	0.76	(1.01)	3.18
EOT	0.46	(0.07)	0.00	(0.67)	0.00	0.00	0.87	(1.01)	2.88
MVT	0.55	(0.04)	0.00	(0.06)	0.00	0.00	1.18	(1.14)	2.90
DTF	0.34	0.02	(0.14)	(0.25)	0.42	(0.42)	0.83	(0.71)	2.78
MVF	0.56	(0.01)	(0.12)	0.03	0.64	(0.65)	1.11	(1.10)	3.94
MQT	0.51	(0.03)	(0.13)	(0.02)	0.66	(0.53)	1.01	(0.98)	3.29

Invesco Municipal Corporate Management

Russell Burk	Senior Officer	Profile
Robert CFA	Portfolio Manager	Profile
James Phillips	Portfolio Manager	Profile
John Connelly	Portfolio Manager	Profile
Tim OReilly	Portfolio Manager	Profile
Julius Williams	Portfolio Manager	Profile
Mark Paris	Portfolio Manager	Profile

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