Invesco Energy Correlations

IENSX Fund  USD 31.39  0.10  0.32%   
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

Significant diversification

The correlation between Invesco Energy and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Energy and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Energy. 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

  0.64OARDX Oppenheimer RisingPairCorr
  0.64AMHYX Invesco High YieldPairCorr
  0.88HYIFX Invesco High YieldPairCorr
  0.88HYINX Invesco High YieldPairCorr
  0.88ILAAX Invesco Income AllocationPairCorr
  0.63PXCCX Invesco Select RiskPairCorr
  0.87BRCRX Invesco Balanced RiskPairCorr
  0.88BRCNX Invesco Balanced RiskPairCorr
  0.87PXCIX Invesco Select RiskPairCorr
  0.86BRCCX Invesco Balanced RiskPairCorr
  0.87BRCAX Invesco Balanced RiskPairCorr
  0.68BRCYX Invesco Balanced RiskPairCorr
  0.86PXGGX Invesco Select RiskPairCorr
  0.84OTFCX Oppenheimer TargetPairCorr
  0.82EMLDX Invesco Emerging MarketsPairCorr
  0.86PXMQX Invesco Select RiskPairCorr
  0.86PXMSX Invesco Select RiskPairCorr
  0.86DIGGX Invesco DiscoveryPairCorr
  0.86PXMMX Invesco Select RiskPairCorr
  0.86OCAIX Oppenheimer AggrssvPairCorr
  0.86OCCIX Oppenheimer CnsrvtvPairCorr
  0.79STBAX Invesco Short TermPairCorr
  0.76STBCX Invesco Short TermPairCorr
  0.79STBYX Invesco Short TermPairCorr
  0.77STBRX Invesco Short TermPairCorr
  0.72MLPDX Oppenheimer Steelpath MlpPairCorr
  0.62MLPAX Oppenheimer Steelpath MlpPairCorr
  0.78MLPGX Oppenheimer Steelpath MlpPairCorr
  0.74MLPEX Steelpath SelectPairCorr

Moving against Invesco Mutual Fund

  0.34VMICX Invesco Municipal IncomePairCorr
  0.41OCACX Oppenheimer Roc CaPairCorr

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.