Invesco Asia Correlations
| ASIAX Fund | USD 30.09 0.20 0.66% |
The current 90-days correlation between Invesco Asia Pacific and Gamco Global Telecommunications is 0.01 (i.e., Significant diversification). The correlation of Invesco Asia 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 Asia Correlation With Market
Average diversification
The correlation between Invesco Asia Pacific and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Asia Pacific and DJI in the same portfolio, assuming nothing else is changed.
Invesco |
Moving together with Invesco Mutual Fund
| 0.61 | OSMAX | Oppenheimer International | PairCorr |
| 0.61 | OSMCX | Oppenheimer International | PairCorr |
| 0.71 | BRCRX | Invesco Balanced Risk | PairCorr |
| 0.69 | BRCNX | Invesco Balanced Risk | PairCorr |
| 0.72 | BRCCX | Invesco Balanced Risk | PairCorr |
| 0.7 | BRCAX | Invesco Balanced Risk | PairCorr |
| 0.65 | BRCYX | Invesco Balanced Risk | PairCorr |
Moving against Invesco Mutual Fund
| 0.31 | OARDX | Oppenheimer Rising | PairCorr |
| 0.42 | MLPRX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.32 | DIGGX | Invesco Discovery | PairCorr |
| 0.53 | MLPAX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.53 | MLPGX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.53 | MLPMX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.53 | MLPLX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.46 | MLPDX | Oppenheimer Steelpath Mlp | PairCorr |
| 0.46 | MLPFX | Oppenheimer Steelpath Mlp | PairCorr |
Related Correlations Analysis
| 0.15 | 0.23 | 0.17 | -0.15 | 0.0 | 0.07 | GABTX | ||
| 0.15 | 0.98 | 0.98 | 0.86 | 0.0 | 0.92 | TIMTX | ||
| 0.23 | 0.98 | 0.98 | 0.85 | 0.0 | 0.93 | BSNSX | ||
| 0.17 | 0.98 | 0.98 | 0.83 | 0.0 | 0.91 | MSTPX | ||
| -0.15 | 0.86 | 0.85 | 0.83 | 0.0 | 0.95 | OWMBX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | ICAXX | ||
| 0.07 | 0.92 | 0.93 | 0.91 | 0.95 | 0.0 | BIDPX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Invesco Mutual Fund performing well and Invesco Asia 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 Asia'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| GABTX | 0.49 | 0.13 | 0.05 | 1.27 | 0.35 | 1.09 | 3.01 | |||
| TIMTX | 0.15 | 0.01 | (0.32) | 0.01 | 0.21 | 0.37 | 1.40 | |||
| BSNSX | 0.08 | 0.01 | (0.39) | (0.01) | 0.09 | 0.20 | 0.88 | |||
| MSTPX | 0.10 | 0.00 | (0.30) | 0.04 | 0.16 | 0.30 | 1.10 | |||
| OWMBX | 0.11 | (0.01) | (0.49) | (0.14) | 0.15 | 0.26 | 0.87 | |||
| ICAXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| BIDPX | 0.15 | (0.01) | (0.32) | 0.00 | 0.22 | 0.27 | 1.36 |