Invesco Short Correlations

SDPSX Fund

USD 10.04 0.01 0.1%

The current 90-days correlation between Invesco Short Duration and Federated Hermes Inflation is 0.78 (i.e., Poor 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 Duration and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Short Duration 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 Duration. 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 state.

Moving together with Invesco Mutual Fund

0.72	VMICX	Invesco Municipal Income	Pair Corr
0.67	VMINX	Invesco Municipal Income	Pair Corr
0.68	VMIIX	Invesco Municipal Income	Pair Corr
0.79	OSICX	Oppenheimer Strategic	Pair Corr
0.69	OSMAX	Oppenheimer International	Pair Corr
0.69	OSMCX	Oppenheimer International	Pair Corr
0.8	PXCCX	Invesco Select Risk	Pair Corr
0.8	PXCIX	Invesco Select Risk	Pair Corr
0.67	EMLDX	Invesco Emerging Markets	Pair Corr
0.88	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.81	STBAX	Invesco Short Term	Pair Corr
0.8	STBCX	Invesco Short Term	Pair Corr
0.78	STBYX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	FIPRX	RYIFX	ABNTX	ATACX	GPMFX	MFTFX	FIBLX
FIPRX		0.64	0.94	-0.03	0.79	0.64	0.99	FIPRX
RYIFX	0.64		0.61	0.33	0.86	0.92	0.6	RYIFX
ABNTX	0.94	0.61		-0.09	0.79	0.63	0.93	ABNTX
ATACX	-0.03	0.33	-0.09		0.22	0.42	-0.07	ATACX
GPMFX	0.79	0.86	0.79	0.22		0.89	0.76	GPMFX
MFTFX	0.64	0.92	0.63	0.42	0.89		0.6	MFTFX
FIBLX	0.99	0.6	0.93	-0.07	0.76	0.6		FIBLX
	FIPRX	RYIFX	ABNTX	ATACX	GPMFX	MFTFX	FIBLX

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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

FIBLX	+ 0.99	FIPRX
ABNTX	+ 0.94	FIPRX
FIBLX	+ 0.93	ABNTX
MFTFX	+ 0.92	RYIFX
MFTFX	+ 0.89	GPMFX
GPMFX	+ 0.86	RYIFX

High negative correlations

ATACX	- 0.09	ABNTX
FIBLX	- 0.07	ATACX
ATACX	- 0.03	FIPRX

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
FIPRX	0.22	(0.03)	0.00	(0.48)	0.00	0.00	0.40	(0.51)	1.20
RYIFX	0.48	(0.03)	(0.18)	0.00	0.57	(0.55)	0.99	(1.24)	2.58
ABNTX	0.15	(0.02)	0.00	(0.70)	0.00	0.00	0.29	(0.30)	0.88
ATACX	1.03	(0.10)	(0.04)	0.05	1.25	(1.08)	2.24	(2.15)	9.46
GPMFX	0.43	(0.07)	0.00	(0.06)	0.00	0.00	0.76	(0.89)	2.31
MFTFX	0.95	(0.06)	(0.06)	0.03	1.35	(0.88)	1.70	(1.95)	5.42
FIBLX	0.21	(0.02)	0.00	(0.42)	0.00	0.00	0.32	(0.43)	1.26

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