Invesco Stock Correlations

ACSTX Fund

USD 32.25 0.13 0.40%

The current 90-days correlation between Invesco Stock and Alpsalerian Energy Infrastructure is 0.31 (i.e., Weak diversification). The correlation of Invesco Stock 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 Stock Correlation With Market

Almost no diversification

The correlation between Invesco Stock Fund and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Stock Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Stock Fund. 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 estimate.

Moving together with Invesco Mutual Fund

0.97	OARDX	Oppenheimer Rising	Pair Corr
0.8	AMHYX	Invesco High Yield	Pair Corr
0.8	HYIFX	Invesco High Yield	Pair Corr
0.8	HYINX	Invesco High Yield	Pair Corr
0.92	PXGGX	Invesco Select Risk	Pair Corr
0.91	OTFCX	Oppenheimer Target	Pair Corr
0.83	PXMQX	Invesco Select Risk	Pair Corr
0.83	PXMSX	Invesco Select Risk	Pair Corr
0.98	DIGGX	Invesco Discovery	Pair Corr
0.84	PXMMX	Invesco Select Risk	Pair Corr
0.92	PXQIX	Invesco Select Risk	Pair Corr
0.91	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.85	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.94	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.94	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	MLPEX	Steelpath Select	Pair Corr
0.93	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Invesco Mutual Fund

0.75	OSMAX	Oppenheimer International	Pair Corr
0.75	OSMCX	Oppenheimer International	Pair Corr
0.75	EMLDX	Invesco Emerging Markets	Pair Corr
0.64	OSICX	Oppenheimer Strategic	Pair Corr
0.42	STBAX	Invesco Short Term	Pair Corr
0.67	INDFX	Invesco International	Pair Corr
0.64	INGFX	Invesco Oppenheimer	Pair Corr
0.59	INBQX	Aim Investment Funds	Pair Corr
0.43	ODMAX	Oppenheimer Developing	Pair Corr
0.41	STBCX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	ALEFX	TREIX	CGAEX	ALTEX	FIKAX	GMOWX	SBMBX
ALEFX		0.82	-0.65	-0.54	0.75	-0.25	0.31	ALEFX
TREIX	0.82		-0.45	-0.39	0.79	-0.01	0.42	TREIX
CGAEX	-0.65	-0.45		0.89	-0.25	0.78	0.35	CGAEX
ALTEX	-0.54	-0.39	0.89		-0.18	0.68	0.25	ALTEX
FIKAX	0.75	0.79	-0.25	-0.18		0.27	0.75	FIKAX
GMOWX	-0.25	-0.01	0.78	0.68	0.27		0.75	GMOWX
SBMBX	0.31	0.42	0.35	0.25	0.75	0.75		SBMBX
	ALEFX	TREIX	CGAEX	ALTEX	FIKAX	GMOWX	SBMBX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ALTEX	+ 0.89	CGAEX
TREIX	+ 0.82	ALEFX
FIKAX	+ 0.79	TREIX
GMOWX	+ 0.78	CGAEX
FIKAX	+ 0.75	ALEFX
SBMBX	+ 0.75	FIKAX

High negative correlations

CGAEX	- 0.65	ALEFX
ALTEX	- 0.54	ALEFX
CGAEX	- 0.45	TREIX
ALTEX	- 0.39	TREIX
FIKAX	- 0.25	CGAEX
GMOWX	- 0.25	ALEFX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Stock 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 Stock'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
ALEFX	0.81	0.08	0.00	0.40	1.53	(0.83)	1.37	(1.80)	9.49
TREIX	0.05	0.01	(0.72)	(0.44)	0.00	(0.11)	0.10	(0.10)	0.40
CGAEX	0.69	(0.01)	(0.10)	0.06	0.88	(0.71)	1.46	(1.28)	4.70
ALTEX	1.25	0.00	(0.02)	0.11	1.40	(1.34)	2.10	(2.10)	7.75
FIKAX	0.90	0.04	(0.04)	0.47	1.22	(0.89)	2.07	(2.07)	5.82
GMOWX	1.00	0.04	(0.05)	0.70	1.38	(0.98)	1.88	(2.32)	5.05
SBMBX	0.70	0.00	(0.10)	0.07	0.99	(0.68)	1.34	(1.49)	3.99

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC