Invesco Municipal Correlations

VMICX Fund

USD 12.09 0.03 0.25%

The current 90-days correlation between Invesco Municipal Income and Vanguard Intermediate Term Tax Exempt is 0.18 (i.e., Average diversification). The correlation of Invesco Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Invesco Municipal Income 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 Municipal Income 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 Municipal Income. 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 main economic indicators.

Moving together with Invesco Mutual Fund

0.88	VMINX	Invesco Municipal Income	Pair Corr
0.99	VMIIX	Invesco Municipal Income	Pair Corr
0.75	OSICX	Oppenheimer Strategic	Pair Corr
0.69	PXCCX	Invesco Select Risk	Pair Corr
0.68	PXCIX	Invesco Select Risk	Pair Corr
0.64	EMLDX	Invesco Emerging Markets	Pair Corr
0.88	OCACX	Oppenheimer Roc Ca	Pair Corr
0.68	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.72	STBAX	Invesco Short Term	Pair Corr
0.75	STBCX	Invesco Short Term	Pair Corr
0.68	STBYX	Invesco Short Term	Pair Corr
0.73	STBRX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	VWIUX	VWLUX	VWEAX	VMLUX	VWSUX
VWIUX		1.0	0.52	0.82	0.3	VWIUX
VWLUX	1.0		0.54	0.82	0.33	VWLUX
VWEAX	0.52	0.54		0.77	0.85	VWEAX
VMLUX	0.82	0.82	0.77		0.7	VMLUX
VWSUX	0.3	0.33	0.85	0.7		VWSUX
	VWIUX	VWLUX	VWEAX	VMLUX	VWSUX

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Municipal 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 Municipal'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
VWIUX	0.12	0.01	(0.42)	0.03	0.16	(0.17)	0.29	(0.29)	1.10
VWLUX	0.16	0.02	(0.28)	(0.04)	0.24	(0.21)	0.37	(0.37)	1.65
VWEAX	0.11	0.01	(0.51)	(2.39)	0.00	(0.23)	0.37	(0.18)	0.74
VMLUX	0.07	0.00	(0.60)	(0.06)	0.00	(0.14)	0.18	(0.18)	0.74
VWSUX	0.04	0.00	(1.02)	(0.13)	0.00	(0.12)	0.13	(0.06)	0.51

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Invesco Municipal Correlations

Invesco Municipal Correlation With Market

Average diversification

Moving together with Invesco Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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