Aim Sector Correlations

IRTCX Fund

USD 27.36 0.03 0.11%

The current 90-days correlation between Aim Sector Funds and Invesco Municipal Income is 0.21 (i.e., Modest diversification). The correlation of Aim Sector 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.

Aim Sector Correlation With Market

Good diversification

The correlation between Aim Sector Funds and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aim Sector Funds 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 Aim Sector Funds. 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 main economic indicators.

Moving together with AIM Mutual Fund

1.0	OARDX	Oppenheimer Rising	Pair Corr
0.98	AMHYX	Invesco High Yield	Pair Corr
0.89	OSICX	Oppenheimer Strategic	Pair Corr
0.97	OSMAX	Oppenheimer International	Pair Corr
0.96	OSMCX	Oppenheimer International	Pair Corr
0.98	HYINX	Invesco High Yield	Pair Corr
0.7	ILAAX	Invesco Income Allocation	Pair Corr
0.98	PXCCX	Invesco Select Risk	Pair Corr
0.98	PXCIX	Invesco Select Risk	Pair Corr
0.68	BRCYX	Invesco Balanced Risk	Pair Corr
0.93	EMLDX	Invesco Emerging Markets	Pair Corr
0.7	PXMQX	Invesco Select Risk	Pair Corr
0.62	PXMMX	Invesco Select Risk	Pair Corr
0.97	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.96	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.7	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	STBYX	Invesco Short Term	Pair Corr
0.76	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.97	OCMIX	Oppenheimer Moderate	Pair Corr
1.0	OCRDX	Oppenheimer Rising	Pair Corr
0.7	SCAUX	Invesco Low Volatility	Pair Corr
0.7	SCCUX	Invesco Low Volatility	Pair Corr
0.66	INBQX	Aim Investment Funds	Pair Corr
0.93	INGFX	Invesco Oppenheimer	Pair Corr
0.61	FSIUX	Invesco Dividend Income	Pair Corr
0.96	ODIIX	Oppenheimer Discovery	Pair Corr

Related Correlations Analysis

	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX
VMICX		0.87	0.99	-0.26	-0.26	-0.2	-0.24	-0.24	-0.25	-0.26	VMICX
VMINX	0.87		0.89	-0.05	-0.04	-0.06	-0.04	-0.04	-0.06	-0.04	VMINX
VMIIX	0.99	0.89		-0.13	-0.12	-0.07	-0.11	-0.11	-0.12	-0.13	VMIIX
OARDX	-0.26	-0.05	-0.13		0.98	0.88	0.98	0.96	0.97	0.99	OARDX
AMHYX	-0.26	-0.04	-0.12	0.98		0.93	0.97	0.96	0.99	1.0	AMHYX
OSICX	-0.2	-0.06	-0.07	0.88	0.93		0.91	0.91	0.94	0.92	OSICX
OSMAX	-0.24	-0.04	-0.11	0.98	0.97	0.91		0.98	0.96	0.97	OSMAX
OSMCX	-0.24	-0.04	-0.11	0.96	0.96	0.91	0.98		0.97	0.97	OSMCX
HYIFX	-0.25	-0.06	-0.12	0.97	0.99	0.94	0.96	0.97		0.99	HYIFX
HYINX	-0.26	-0.04	-0.13	0.99	1.0	0.92	0.97	0.97	0.99		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

HYINX	+ 1.0	AMHYX
VMIIX	+ 0.99	VMICX
HYINX	+ 0.99	OARDX
HYIFX	+ 0.99	AMHYX
HYINX	+ 0.99	HYIFX
AMHYX	+ 0.98	OARDX

High negative correlations

HYINX	- 0.26	VMICX
AMHYX	- 0.26	VMICX
OARDX	- 0.26	VMICX
HYIFX	- 0.25	VMICX
OSMCX	- 0.24	VMICX
OSMAX	- 0.24	VMICX

Risk-Adjusted Indicators

There is a big difference between AIM Mutual Fund performing well and Aim Sector 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 Aim Sector'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	(0.39)	0.00	0.00	0.45	(0.45)	1.32
VMINX	0.21	(0.02)	0.00	0.86	0.00	0.00	0.44	(0.44)	1.40
VMIIX	0.22	(0.03)	0.00	(0.32)	0.00	0.00	0.53	(0.44)	1.41
OARDX	0.59	0.22	0.09	(3.60)	0.44	(0.73)	1.79	(1.21)	4.09
AMHYX	0.17	0.07	(0.23)	(2.21)	0.00	(0.37)	0.58	(0.29)	1.13
OSICX	0.25	0.06	(0.20)	(11.43)	0.00	(0.43)	0.64	(0.32)	1.56
OSMAX	0.57	0.19	0.07	16.46	0.47	(0.64)	1.29	(1.10)	2.91
OSMCX	0.57	0.13	0.06	0.49	0.49	(0.63)	1.30	(1.11)	2.93
HYIFX	0.19	0.05	(0.22)	0.45	0.00	(0.39)	0.58	(0.29)	1.15
HYINX	0.16	0.08	0.00	(1.45)	0.00	0.00	0.58	(0.28)	0.89

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