Invesco Energy Correlations

Mutual Funds . USA . 
Fund . Invesco Energy Fund
FSTEX Fund  USD 30.10  0.10  0.33%   
The current 90-days correlation between Invesco Energy and Invesco Gold Special is 0.03 (i.e., Significant diversification). The correlation of Invesco Energy 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 Energy Correlation With Market

Average diversification

The correlation between Invesco Energy Fund 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 Energy Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco Energy Fund. 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 income.

Moving together with Invesco Mutual Fund

  0.88OARDX Oppenheimer RisingPairCorr
  0.91AMHYX Invesco High YieldPairCorr
  0.85OSICX Oppenheimer StrategicPairCorr
  0.89OSMAX Oppenheimer InternationalPairCorr
  0.88OSMCX Oppenheimer InternationalPairCorr
  0.91HYIFX Invesco High YieldPairCorr
  0.91HYINX Invesco High YieldPairCorr
  0.9ILAAX Invesco Income AllocationPairCorr
  0.89PXCCX Invesco Select RiskPairCorr
  0.89BRCRX Invesco Balanced RiskPairCorr
  0.89BRCNX Invesco Balanced RiskPairCorr
  0.89PXCIX Invesco Select RiskPairCorr
  0.88BRCCX Invesco Balanced RiskPairCorr
  0.87BRCAX Invesco Balanced RiskPairCorr
  0.9BRCYX Invesco Balanced RiskPairCorr
  0.88PXGGX Invesco Select RiskPairCorr
  0.87OTFCX Oppenheimer TargetPairCorr
  0.87EMLDX Invesco Emerging MarketsPairCorr
  0.88PXMQX Invesco Select RiskPairCorr
  0.88PXMSX Invesco Select RiskPairCorr
  0.88DIGGX Invesco DiscoveryPairCorr
  0.88PXMMX Invesco Select RiskPairCorr
  0.88PXQIX Invesco Select RiskPairCorr
  0.88OCAIX Oppenheimer AggrssvPairCorr
  0.89OCCIX Oppenheimer CnsrvtvPairCorr
  0.85STBAX Invesco Short TermPairCorr
  0.83STBCX Invesco Short TermPairCorr
  0.75MLPRX Oppenheimer Steelpath MlpPairCorr
  0.84STBYX Invesco Short TermPairCorr
  0.82STBRX Invesco Short TermPairCorr
  0.78MLPDX Oppenheimer Steelpath MlpPairCorr
  0.79MLPAX Oppenheimer Steelpath MlpPairCorr
  0.82MLPGX Oppenheimer Steelpath MlpPairCorr
  0.81MLPFX Oppenheimer Steelpath MlpPairCorr
  0.76MLPEX Steelpath SelectPairCorr
  0.74MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Energy 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 Energy'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.

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