Invesco Growth Correlations

GIFFX Fund

USD 21.69 0.18 0.84%

The current 90-days correlation between Invesco Growth And and Invesco Municipal Income is 0.08 (i.e., Significant diversification). The correlation of Invesco Growth 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 Growth Correlation With Market

Poor diversification

The correlation between Invesco Growth And and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Growth And and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Growth And. 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 census.

Moving together with Invesco Mutual Fund

0.96	OARDX	Oppenheimer Rising	Pair Corr
0.64	PXGGX	Invesco Select Risk	Pair Corr
0.61	PXMQX	Invesco Select Risk	Pair Corr
0.62	PXMSX	Invesco Select Risk	Pair Corr
0.81	DIGGX	Invesco Discovery	Pair Corr
0.62	PXMMX	Invesco Select Risk	Pair Corr
0.65	PXQIX	Invesco Select Risk	Pair Corr
0.64	OCAIX	Oppenheimer Aggrssv	Pair Corr

Moving against Invesco Mutual Fund

0.34

INBQX

Aim Investment Funds

Pair Corr

Related Correlations Analysis

	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX
VMICX		0.9	1.0	0.44	0.55	0.58	0.55	0.54	0.61	0.59	VMICX
VMINX	0.9		0.9	0.33	0.65	0.5	0.41	0.41	0.57	0.55	VMINX
VMIIX	1.0	0.9		0.45	0.61	0.52	0.49	0.49	0.65	0.64	VMIIX
OARDX	0.44	0.33	0.45		0.33	-0.04	0.55	0.56	0.48	0.46	OARDX
AMHYX	0.55	0.65	0.61	0.33		-0.09	-0.15	-0.15	0.89	0.88	AMHYX
OSICX	0.58	0.5	0.52	-0.04	-0.09		0.7	0.69	-0.03	-0.03	OSICX
OSMAX	0.55	0.41	0.49	0.55	-0.15	0.7		1.0	-0.01	-0.02	OSMAX
OSMCX	0.54	0.41	0.49	0.56	-0.15	0.69	1.0		-0.01	-0.01	OSMCX
HYIFX	0.61	0.57	0.65	0.48	0.89	-0.03	-0.01	-0.01		0.98	HYIFX
HYINX	0.59	0.55	0.64	0.46	0.88	-0.03	-0.02	-0.01	0.98		HYINX
	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VMIIX	+ 1.0	VMICX
OSMCX	+ 1.0	OSMAX
HYINX	+ 0.98	HYIFX
VMINX	+ 0.9	VMICX
VMIIX	+ 0.9	VMINX
HYIFX	+ 0.89	AMHYX

High negative correlations

OSMCX	- 0.15	AMHYX
OSMAX	- 0.15	AMHYX
OSICX	- 0.09	AMHYX
OSICX	- 0.04	OARDX
HYINX	- 0.03	OSICX
HYIFX	- 0.03	OSICX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Growth 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 Growth'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VMICX	0.20	(0.03)	0.77	0.34	(0.50)	1.68
VMINX	0.19	(0.03)	(0.64)	0.41	(0.49)	1.59
VMIIX	0.20	(0.03)	0.67	0.33	(0.49)	1.59
OARDX	0.63	(0.15)	(0.15)	0.84	(0.93)	12.98
AMHYX	0.11	(0.02)	(0.93)	0.28	(0.28)	0.84
OSICX	0.23	(0.07)	(0.46)	0.63	(0.64)	1.94
OSMAX	0.73	(0.32)	(0.54)	0.97	(1.25)	12.61
OSMCX	0.74	(0.33)	(0.55)	0.98	(1.22)	13.19
HYIFX	0.12	(0.02)	(0.29)	0.28	(0.28)	1.12
HYINX	0.12	(0.02)	(0.25)	0.28	(0.28)	1.12

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