Invesco Small Correlations

Mutual Funds . USA . 
Fund . Invesco Small Cap
SMEAX Fund  USD 14.69  0.29  2.01%   
The current 90-days correlation between Invesco Small Cap and Advent Claymore Convertible is 0.31 (i.e., Weak diversification). The correlation of Invesco Small 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 Small Correlation With Market

Very weak diversification

The correlation between Invesco Small Cap and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Small Cap. 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 nation.

Moving together with Invesco Mutual Fund

  0.8OARDX Oppenheimer RisingPairCorr
  0.77OSMAX Oppenheimer InternationalPairCorr
  0.76OSMCX Oppenheimer InternationalPairCorr
  0.61HYIFX Invesco High YieldPairCorr
  0.63HYINX Invesco High YieldPairCorr
  0.74ILAAX Invesco Income AllocationPairCorr
  0.75BRCRX Invesco Balanced RiskPairCorr
  0.74BRCNX Invesco Balanced RiskPairCorr
  0.76BRCCX Invesco Balanced RiskPairCorr
  0.74BRCAX Invesco Balanced RiskPairCorr
  0.74BRCYX Invesco Balanced RiskPairCorr
  0.95OTFCX Oppenheimer TargetPairCorr
  0.96OCAIX Oppenheimer AggrssvPairCorr
  0.74OCCIX Oppenheimer CnsrvtvPairCorr
  0.62STBCX Invesco Short TermPairCorr

Moving against Invesco Mutual Fund

  0.71PXCCX Invesco Select RiskPairCorr
  0.71PXCIX Invesco Select RiskPairCorr
  0.5DIGGX Invesco DiscoveryPairCorr
  0.45PXMMX Invesco Select RiskPairCorr
  0.44PXMQX Invesco Select RiskPairCorr
  0.42PXMSX Invesco Select RiskPairCorr
  0.38PXGGX Invesco Select RiskPairCorr
  0.36PXQIX Invesco Select RiskPairCorr
  0.86INDFX Invesco InternationalPairCorr
  0.62INGFX Invesco OppenheimerPairCorr

Related Correlations Analysis


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

FSAWX
+ 0.87
VAADX
XNCVX
+ 0.86
LCFYX
GCV
+ 0.84
LCFYX
XNCVX
+ 0.79
GCV
XNCVX
+ 0.76
XAVKX
GCV
+ 0.68
XAVKX
  

High negative correlations

GCV
- 0.26
FSAWX
LCFYX
- 0.18
FSAWX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Small 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 Small'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.

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