Invesco Servative Correlations

CMAIX Fund

USD 11.08 0.03 0.27%

The current 90-days correlation between Invesco Servative and Invesco Municipal Income is 0.4 (i.e., Very weak diversification). The correlation of Invesco Servative 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 Servative Correlation With Market

Very poor diversification

The correlation between Invesco Servative Allocation and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Servative Allocation 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 Servative Allocation. 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 gross domestic product.

Moving together with Invesco Mutual Fund

0.99	OARDX	Oppenheimer Rising	Pair Corr
0.92	OSICX	Oppenheimer Strategic	Pair Corr
0.99	PXCCX	Invesco Select Risk	Pair Corr
0.99	PXCIX	Invesco Select Risk	Pair Corr
0.69	BRCYX	Invesco Balanced Risk	Pair Corr
0.92	STBYX	Invesco Short Term	Pair Corr
0.82	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
1.0	OCMIX	Oppenheimer Moderate	Pair Corr
0.98	INGFX	Invesco Oppenheimer	Pair Corr
0.99	ODIIX	Oppenheimer Discovery	Pair Corr
0.89	FSTEX	Invesco Energy	Pair Corr
0.99	FSTUX	Invesco Dividend Income	Pair Corr
0.94	OEMCX	Ophmr Eml Dbt	Pair Corr
0.9	IORMX	Aim Taxexempt Funds	Pair Corr
0.99	OGICX	Oppenheimer Global Growth	Pair Corr
0.96	ASIAX	Invesco Asia Pacific	Pair Corr
0.98	VSQYX	Invesco Global Respons	Pair Corr
0.87	OIBAX	Oppenheimer International	Pair Corr
0.98	OIDAX	Oppenheimer International	Pair Corr
0.98	OIDCX	Oppenheimer International	Pair Corr
0.97	OIGCX	Oppenheimer International	Pair Corr
0.98	OIGAX	Oppenheimer International	Pair Corr
0.99	IAUTX	Invesco Dividend Income	Pair Corr
0.99	MSAZX	Invesco Main Street	Pair Corr
0.99	ITYYX	Invesco Technology	Pair Corr
0.99	ITYAX	Invesco Technology	Pair Corr
0.89	OLCAX	Oppenheimer Rochester	Pair Corr
0.98	CNSDX	Invesco Vertible Sec	Pair Corr
1.0	CNSSX	Invesco Conservative	Pair Corr
0.99	IVNQX	Invesco Nasdaq 100	Pair Corr
0.89	IEFCX	Invesco Energy	Pair Corr
0.89	IENAX	Invesco Energy	Pair Corr
0.9	AGIVX	Invesco Government	Pair Corr

Moving against Invesco Mutual Fund

0.73

QOPCX

Oppenheimer Flexible

Pair Corr

Related Correlations Analysis

	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX
VMICX		0.99	0.99	-0.18	-0.17	-0.12	-0.16	-0.16	-0.17	-0.17	VMICX
VMINX	0.99		1.0	-0.05	-0.04	0.01	-0.04	-0.03	-0.04	-0.04	VMINX
VMIIX	0.99	1.0		-0.04	-0.03	0.02	-0.03	-0.02	-0.03	-0.03	VMIIX
OARDX	-0.18	-0.05	-0.04		0.98	0.89	0.98	0.97	0.98	0.99	OARDX
AMHYX	-0.17	-0.04	-0.03	0.98		0.94	0.97	0.97	1.0	1.0	AMHYX
OSICX	-0.12	0.01	0.02	0.89	0.94		0.92	0.92	0.94	0.93	OSICX
OSMAX	-0.16	-0.04	-0.03	0.98	0.97	0.92		1.0	0.97	0.97	OSMAX
OSMCX	-0.16	-0.03	-0.02	0.97	0.97	0.92	1.0		0.97	0.97	OSMCX
HYIFX	-0.17	-0.04	-0.03	0.98	1.0	0.94	0.97	0.97		1.0	HYIFX
HYINX	-0.17	-0.04	-0.03	0.99	1.0	0.93	0.97	0.97	1.0		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	+ 1.0	VMINX
HYIFX	+ 1.0	AMHYX
HYINX	+ 1.0	AMHYX
OSMCX	+ 1.0	OSMAX
HYINX	+ 1.0	HYIFX
VMINX	+ 0.99	VMICX

High negative correlations

OARDX	- 0.18	VMICX
HYINX	- 0.17	VMICX
HYIFX	- 0.17	VMICX
AMHYX	- 0.17	VMICX
OSMCX	- 0.16	VMICX
OSMAX	- 0.16	VMICX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Servative 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 Servative'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	0.21	(0.04)	0.00	(0.43)	0.00	0.00	0.44	(0.45)	1.32
VMINX	0.21	(0.04)	0.00	(0.41)	0.00	0.00	0.44	(0.44)	1.40
VMIIX	0.21	(0.04)	0.00	(0.38)	0.00	0.00	0.53	(0.44)	1.41
OARDX	0.59	0.10	0.10	0.25	0.44	(0.73)	1.79	(1.21)	4.09
AMHYX	0.17	0.05	(0.21)	0.50	0.00	(0.37)	0.58	(0.29)	1.13
OSICX	0.24	0.05	(0.21)	(18.76)	0.00	(0.42)	0.64	(0.32)	1.56
OSMAX	0.57	0.14	0.08	0.51	0.47	(0.64)	1.29	(1.10)	2.91
OSMCX	0.57	0.14	0.07	0.50	0.49	(0.63)	1.30	(1.11)	2.93
HYIFX	0.19	0.04	(0.22)	0.42	0.00	(0.39)	0.58	(0.29)	1.15
HYINX	0.16	0.05	0.00	0.50	0.00	0.00	0.58	(0.28)	0.89

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