Invesco Low Correlations

SCAUX Fund  USD 11.51  0.01  0.09%   
The current 90-days correlation between Invesco Low Volatility and Invesco Municipal Income is 0.29 (i.e., Modest diversification). The correlation of Invesco Low 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 Low Correlation With Market

Good diversification

The correlation between Invesco Low Volatility and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Low Volatility and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Low Volatility. 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 employment.

Moving together with Invesco Mutual Fund

  1.0OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.89OSICX Oppenheimer StrategicPairCorr
  0.98OSMAX Oppenheimer InternationalPairCorr
  0.97OSMCX Oppenheimer InternationalPairCorr
  0.98HYIFX Invesco High YieldPairCorr
  0.97HYINX Invesco High YieldPairCorr
  0.97ILAAX Invesco Income AllocationPairCorr
  0.98PXCCX Invesco Select RiskPairCorr
  0.68BRCRX Invesco Balanced RiskPairCorr
  0.69BRCNX Invesco Balanced RiskPairCorr
  0.98PXCIX Invesco Select RiskPairCorr
  0.66BRCCX Invesco Balanced RiskPairCorr
  0.69BRCYX Invesco Balanced RiskPairCorr
  0.98PXGGX Invesco Select RiskPairCorr
  1.0OTFCX Oppenheimer TargetPairCorr
  0.92EMLDX Invesco Emerging MarketsPairCorr
  1.0PXMQX Invesco Select RiskPairCorr
  1.0PXMSX Invesco Select RiskPairCorr
  0.99DIGGX Invesco DiscoveryPairCorr
  1.0PXMMX Invesco Select RiskPairCorr
  0.98OCAIX Oppenheimer AggrssvPairCorr
  0.97OCCIX Oppenheimer CnsrvtvPairCorr
  0.91STBAX Invesco Short TermPairCorr
  0.9STBCX Invesco Short TermPairCorr
  0.78MLPRX Oppenheimer Steelpath MlpPairCorr
  0.91STBYX Invesco Short TermPairCorr
  0.74MLPDX Oppenheimer Steelpath MlpPairCorr
  0.78MLPAX Oppenheimer Steelpath MlpPairCorr
  0.73MLPGX Oppenheimer Steelpath MlpPairCorr
  0.79MLPFX Oppenheimer Steelpath MlpPairCorr
  0.81MLPEX Steelpath SelectPairCorr
  0.65MLPMX Oppenheimer Steelpath MlpPairCorr
  0.71MLPLX Oppenheimer Steelpath MlpPairCorr
  0.98OCMIX Oppenheimer ModeratePairCorr
  0.98OCRDX Oppenheimer RisingPairCorr

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   
HYIFXAMHYX
VMIIXVMICX
HYINXAMHYX
HYINXHYIFX
AMHYXOARDX
HYIFXOARDX
  
High negative correlations   
OARDXVMICX
HYINXVMICX
HYIFXVMICX
AMHYXVMICX
OSMCXVMICX
OSMAXVMICX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Low 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 Low'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.21 (0.04) 0.00 (0.43) 0.00 
 0.44 
 1.32 
VMINX  0.21  0.00 (0.42) 0.24  0.26 
 0.53 
 1.68 
VMIIX  0.21 (0.04) 0.00 (0.38) 0.00 
 0.53 
 1.41 
OARDX  0.60  0.23  0.11 (3.47) 0.44 
 1.79 
 4.09 
AMHYX  0.18  0.08 (0.18)(2.16) 0.00 
 0.58 
 1.13 
OSICX  0.24  0.05 (0.21)(18.76) 0.00 
 0.64 
 1.56 
OSMAX  0.58  0.22  0.12 (90.58) 0.42 
 1.40 
 2.91 
OSMCX  0.57  0.14  0.07  0.50  0.49 
 1.30 
 2.93 
HYIFX  0.20  0.08 (0.19)(1.43) 0.00 
 0.59 
 1.15 
HYINX  0.16  0.05  0.00  0.50  0.00 
 0.58 
 0.89