Invesco Short Correlations

STBYX Fund

USD 8.08 0.01 0.12%

The current 90-days correlation between Invesco Short Term and Investec Global Franchise is -0.13 (i.e., Good 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

Significant diversification

The correlation between Invesco Short Term and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Short Term 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 Short Term. 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 manufacturing.

Moving together with Invesco Mutual Fund

0.72	OSICX	Oppenheimer Strategic	Pair Corr
0.98	STBAX	Invesco Short Term	Pair Corr
0.65	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.98	STBRX	Invesco Short Term	Pair Corr
0.67	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Invesco Mutual Fund

0.58	OARDX	Oppenheimer Rising	Pair Corr
0.56	OSMCX	Oppenheimer International	Pair Corr
0.54	OSMAX	Oppenheimer International	Pair Corr
0.43	DIGGX	Invesco Discovery	Pair Corr
0.32	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.53	INGFX	Invesco Oppenheimer	Pair Corr
0.45	OCRDX	Oppenheimer Rising	Pair Corr

Related Correlations Analysis

	ZGFIX	RGPAX	MFIRX	SMYIX	GAFAX	ANAZX	MSTGX	DHGCX
ZGFIX		0.66	0.42	0.61	0.69	0.6	0.63	0.77	ZGFIX
RGPAX	0.66		0.22	0.93	0.7	0.59	0.86	0.59	RGPAX
MFIRX	0.42	0.22		0.18	0.45	0.5	0.36	0.55	MFIRX
SMYIX	0.61	0.93	0.18		0.67	0.65	0.86	0.63	SMYIX
GAFAX	0.69	0.7	0.45	0.67		0.31	0.66	0.44	GAFAX
ANAZX	0.6	0.59	0.5	0.65	0.31		0.7	0.93	ANAZX
MSTGX	0.63	0.86	0.36	0.86	0.66	0.7		0.66	MSTGX
DHGCX	0.77	0.59	0.55	0.63	0.44	0.93	0.66		DHGCX
	ZGFIX	RGPAX	MFIRX	SMYIX	GAFAX	ANAZX	MSTGX	DHGCX

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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
ZGFIX	0.43	0.02	(0.07)	1.35	0.72	(0.42)	0.85	(0.92)	3.69
RGPAX	0.57	0.00	(0.05)	0.08	0.85	(0.58)	1.27	(1.57)	4.08
MFIRX	0.10	0.02	(0.22)	0.84	0.00	(0.23)	0.19	(0.19)	0.77
SMYIX	0.65	(0.01)	(0.04)	0.06	1.06	(0.59)	1.48	(1.35)	4.86
GAFAX	0.27	0.02	(0.11)	0.20	0.25	(0.30)	0.66	(0.48)	1.90
ANAZX	0.18	(0.01)	(0.31)	(0.59)	0.18	(0.28)	0.44	(0.44)	1.31
MSTGX	0.25	0.00	(0.16)	0.11	0.31	(0.32)	0.55	(0.33)	1.83
DHGCX	0.15	(0.01)	(0.42)	(0.21)	0.14	(0.21)	0.36	(0.26)	0.94

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