Invesco Select Correlations

PXCCX Fund

USD 8.92 0.01 0.11%

The current 90-days correlation between Invesco Select Risk and Vanguard Wellesley Income is 0.85 (i.e., Very poor diversification). The correlation of Invesco Select 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 Select Correlation With Market

Average diversification

The correlation between Invesco Select Risk and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Select Risk 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 Select Risk. 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

0.78	VMICX	Invesco Municipal Income	Pair Corr
0.75	VMINX	Invesco Municipal Income	Pair Corr
0.72	VMIIX	Invesco Municipal Income	Pair Corr
0.93	OSICX	Oppenheimer Strategic	Pair Corr
0.74	OSMAX	Oppenheimer International	Pair Corr
0.73	OSMCX	Oppenheimer International	Pair Corr
0.92	PXCIX	Invesco Select Risk	Pair Corr
0.87	EMLDX	Invesco Emerging Markets	Pair Corr
0.8	OCACX	Oppenheimer Roc Ca	Pair Corr
0.99	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.61	STBAX	Invesco Short Term	Pair Corr
0.65	STBCX	Invesco Short Term	Pair Corr
0.65	STBRX	Invesco Short Term	Pair Corr

Moving against Invesco Mutual Fund

0.32	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.32	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.31	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.31	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	VWINX	VWIAX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MSTSX	LBHIX	ABHYX
VWINX		0.9	0.0	0.27	-0.19	0.0	0.34	0.6	0.69	0.7	VWINX
VWIAX	0.9		0.0	0.24	-0.13	0.0	0.26	0.62	0.61	0.65	VWIAX
AAVXF	0.0	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	AAVXF
SCRYY	0.27	0.24	0.0		-0.44	0.0	0.44	0.47	0.5	0.31	SCRYY
444859BR2	-0.19	-0.13	0.0	-0.44		0.0	-0.63	-0.62	-0.59	-0.09	444859BR2
AQUI	0.0	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
SCRYX	0.34	0.26	0.0	0.44	-0.63	0.0		0.58	0.6	-0.03	SCRYX
MSTSX	0.6	0.62	0.0	0.47	-0.62	0.0	0.58		0.72	0.4	MSTSX
LBHIX	0.69	0.61	0.0	0.5	-0.59	0.0	0.6	0.72		0.62	LBHIX
ABHYX	0.7	0.65	0.0	0.31	-0.09	0.0	-0.03	0.4	0.62		ABHYX
	VWINX	VWIAX	AAVXF	SCRYY	444859BR2	AQUI	SCRYX	MSTSX	LBHIX	ABHYX

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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

VWIAX	+ 0.9	VWINX
LBHIX	+ 0.72	MSTSX
ABHYX	+ 0.7	VWINX
LBHIX	+ 0.69	VWINX
ABHYX	+ 0.65	VWIAX
MSTSX	+ 0.62	VWIAX

High negative correlations

AQUI	- 1.0	AAVXF
SCRYX	- 0.63	444859BR2
MSTSX	- 0.62	444859BR2
LBHIX	- 0.59	444859BR2
444859BR2	- 0.44	SCRYY
444859BR2	- 0.19	VWINX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Select 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 Select'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
VWINX	0.23	0.00	(0.26)	0.00	0.27	(0.24)	0.46	(0.42)	1.42
VWIAX	0.23	(0.02)	(0.27)	0.01	0.27	(0.24)	0.46	(0.43)	1.41
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYY	2.12	0.43	0.13	(1.15)	2.05	(2.81)	5.61	(4.09)	12.99
444859BR2	1.32	0.04	0.00	0.04	0.00	0.00	5.93	(4.60)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.16	0.00	(0.17)	0.11	0.26	(0.23)	0.34	(0.33)	1.91

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