Invesco International Correlations

AIIYX Fund

USD 23.70 0.04 0.17%

The current 90-days correlation between Invesco International and Invesco Municipal Income is 0.07 (i.e., Significant diversification). The correlation of Invesco International 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 International Correlation With Market

Good diversification

The correlation between Invesco International Growth and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco International Growth 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 International Growth. 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 manufacturing.

Moving together with Invesco Mutual Fund

0.64	OSMCX	Oppenheimer International	Pair Corr
0.96	OTFCX	Oppenheimer Target	Pair Corr
0.97	PXMQX	Invesco Select Risk	Pair Corr
0.95	DIGGX	Invesco Discovery	Pair Corr
0.97	PXMMX	Invesco Select Risk	Pair Corr
0.81	STBCX	Invesco Short Term	Pair Corr
0.82	MLPEX	Steelpath Select	Pair Corr
0.94	SCAUX	Invesco Low Volatility	Pair Corr
0.94	SCCUX	Invesco Low Volatility	Pair Corr
0.83	INBQX	Aim Investment Funds	Pair Corr
0.94	SCIUX	Invesco Low Volatility	Pair Corr
0.93	FSIUX	Invesco Dividend Income	Pair Corr
0.95	SCRUX	Invesco Low Volatility	Pair Corr
0.93	PIFFX	Invesco Multi Asset	Pair Corr
0.94	FTCHX	Invesco Technology	Pair Corr
0.86	OEMAX	Ophmr Eml Dbt	Pair Corr

Related Correlations Analysis

	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX
VMICX		0.9	0.99	-0.55	-0.52	-0.3	-0.5	-0.39	-0.53	-0.6	VMICX
VMINX	0.9		0.92	-0.29	-0.27	-0.14	-0.27	-0.15	-0.32	-0.42	VMINX
VMIIX	0.99	0.92		-0.46	-0.43	-0.2	-0.41	-0.28	-0.44	-0.53	VMIIX
OARDX	-0.55	-0.29	-0.46		0.98	0.76	0.97	0.86	0.97	0.86	OARDX
AMHYX	-0.52	-0.27	-0.43	0.98		0.82	0.96	0.85	0.98	0.88	AMHYX
OSICX	-0.3	-0.14	-0.2	0.76	0.82		0.81	0.89	0.82	0.72	OSICX
OSMAX	-0.5	-0.27	-0.41	0.97	0.96	0.81		0.89	0.95	0.85	OSMAX
OSMCX	-0.39	-0.15	-0.28	0.86	0.85	0.89	0.89		0.84	0.75	OSMCX
HYIFX	-0.53	-0.32	-0.44	0.97	0.98	0.82	0.95	0.84		0.9	HYIFX
HYINX	-0.6	-0.42	-0.53	0.86	0.88	0.72	0.85	0.75	0.9		HYINX
	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX

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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

VMIIX	+ 0.99	VMICX
AMHYX	+ 0.98	OARDX
HYIFX	+ 0.98	AMHYX
OSMAX	+ 0.97	OARDX
HYIFX	+ 0.97	OARDX
OSMAX	+ 0.96	AMHYX

High negative correlations

HYINX	- 0.6	VMICX
OARDX	- 0.55	VMICX
HYINX	- 0.53	VMIIX
HYIFX	- 0.53	VMICX
AMHYX	- 0.52	VMICX
OSMAX	- 0.5	VMICX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco International 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 International'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
VMICX	0.19	(0.02)	0.00	(0.38)	0.00	0.00	0.45	(0.44)	1.32
VMINX	0.19	(0.03)	0.00	(0.20)	0.00	0.00	0.44	(0.44)	1.40
VMIIX	0.19	(0.02)	0.00	(0.23)	0.00	0.00	0.53	(0.44)	1.40
OARDX	0.52	0.19	0.20	0.51	0.00	(0.69)	1.51	(0.64)	4.09
AMHYX	0.16	0.05	(0.23)	0.46	0.00	(0.37)	0.58	(0.29)	1.13
OSICX	0.24	0.05	(0.23)	(2.91)	0.00	(0.42)	0.64	(0.32)	1.56
OSMAX	0.56	0.10	0.04	0.38	0.48	(0.62)	1.29	(1.10)	2.91
OSMCX	0.57	0.13	0.05	0.52	0.51	(0.62)	1.30	(1.11)	2.93
HYIFX	0.18	0.07	(0.25)	(1.41)	0.00	(0.38)	0.58	(0.29)	1.15
HYINX	0.14	0.05	0.00	0.84	0.00	0.00	0.57	0.00	0.87

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