Invesco Energy Correlations

IENSX Fund  USD 31.39  0.10  0.32%   
The current 90-days correlation between Invesco Energy and Invesco Real Estate is -0.08 (i.e., Good 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

Good diversification

The correlation between Invesco Energy and DJI is -0.07 (i.e., Good 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

  0.89OARDX Oppenheimer RisingPairCorr
  0.91AMHYX Invesco High YieldPairCorr
  0.85OSICX Oppenheimer StrategicPairCorr
  0.89OSMAX Oppenheimer InternationalPairCorr
  0.88OSMCX Oppenheimer InternationalPairCorr
  0.91HYIFX Invesco High YieldPairCorr
  0.9HYINX Invesco High YieldPairCorr
  0.9ILAAX Invesco Income AllocationPairCorr
  0.9PXCCX Invesco Select RiskPairCorr
  0.86BRCRX Invesco Balanced RiskPairCorr
  0.87BRCNX Invesco Balanced RiskPairCorr
  0.9PXCIX Invesco Select RiskPairCorr
  0.85BRCCX Invesco Balanced RiskPairCorr
  0.9BRCAX Invesco Balanced RiskPairCorr
  0.87BRCYX Invesco Balanced RiskPairCorr
  0.88PXGGX Invesco Select RiskPairCorr
  0.88OTFCX Oppenheimer TargetPairCorr
  0.86EMLDX Invesco Emerging MarketsPairCorr
  0.89PXMQX Invesco Select RiskPairCorr
  0.89PXMSX Invesco Select RiskPairCorr
  0.89DIGGX Invesco DiscoveryPairCorr
  0.89PXMMX Invesco Select RiskPairCorr
  0.89PXQIX Invesco Select RiskPairCorr
  0.88OCAIX Oppenheimer AggrssvPairCorr
  0.89OCCIX Oppenheimer CnsrvtvPairCorr
  0.84STBAX Invesco Short TermPairCorr
  0.83STBCX Invesco Short TermPairCorr
  0.79MLPRX Oppenheimer Steelpath MlpPairCorr
  0.85STBYX Invesco Short TermPairCorr
  0.83STBRX Invesco Short TermPairCorr
  0.75MLPDX Oppenheimer Steelpath MlpPairCorr
  0.83MLPAX Oppenheimer Steelpath MlpPairCorr
  0.78MLPGX Oppenheimer Steelpath MlpPairCorr
  0.78MLPFX Oppenheimer Steelpath MlpPairCorr
  0.81MLPEX Steelpath SelectPairCorr
  0.7MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

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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   
VMIIXVMICX
OARDXGLALX
VMIIXVMINX
VMINXVMICX
GLALXREINX
OARDXREINX
  
High negative correlations   
OARDXVMICX
GLALXVMICX
OARDXVMIIX
OARDXIBVYX
GLALXIBVYX
IBVYXVMIIX

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.