Invesco Low Correlations

SCIUX Fund

USD 10.85 0.04 0.37%

The current 90-days correlation between Invesco Low Volatility and Harding Loevner Emerging is 0.75 (i.e., Poor 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

Almost no diversification

The correlation between Invesco Low Volatility and DJI is 0.98 (i.e., Almost no 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

0.71	VMICX	Invesco Municipal Income	Pair Corr
0.71	VMINX	Invesco Municipal Income	Pair Corr
0.7	VMIIX	Invesco Municipal Income	Pair Corr
1.0	OARDX	Oppenheimer Rising	Pair Corr
0.79	AMHYX	Invesco High Yield	Pair Corr
0.61	OSMCX	Oppenheimer International	Pair Corr
0.87	HYIFX	Invesco High Yield	Pair Corr
0.86	HYINX	Invesco High Yield	Pair Corr
0.83	PXCCX	Invesco Select Risk	Pair Corr
0.73	BRCNX	Invesco Balanced Risk	Pair Corr
0.73	BRCYX	Invesco Balanced Risk	Pair Corr
0.92	DIGGX	Invesco Discovery	Pair Corr
0.98	PXMMX	Invesco Select Risk	Pair Corr
0.85	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.78	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.98	OCMIX	Oppenheimer Moderate	Pair Corr
1.0	OCRDX	Oppenheimer Rising	Pair Corr
1.0	SCAUX	Invesco Low Volatility	Pair Corr
0.75	INDFX	Invesco International	Pair Corr
0.92	ODICX	Oppenheimer Discovery	Pair Corr
1.0	SCRUX	Invesco Low Volatility	Pair Corr
0.75	FSTEX	Invesco Energy	Pair Corr
0.77	ODVCX	Oppenheimer Developing	Pair Corr
0.76	ODVIX	Oppenheimer Developing	Pair Corr
0.83	PIAFX	Invesco Multi Asset	Pair Corr
0.94	PIFFX	Invesco Multi Asset	Pair Corr
0.93	FTCHX	Invesco Technology	Pair Corr
0.91	OEGCX	Oppenheimer Discovery Mid	Pair Corr
0.9	OEGAX	Oppenheimer Discovery Mid	Pair Corr

Moving against Invesco Mutual Fund

0.58	STBCX	Invesco Short Term	Pair Corr
0.32	EMLDX	Invesco Emerging Markets	Pair Corr
0.5	IOGYX	Invesco Gold Special Steady Growth	Pair Corr

Related Correlations Analysis

	HLEMX	DBELX	ABNCX	EPASX	EMSLX	ARTYX
HLEMX		0.06	-0.14	0.8	0.98	0.88	HLEMX
DBELX	0.06		0.54	0.49	0.11	0.01	DBELX
ABNCX	-0.14	0.54		0.31	-0.13	-0.23	ABNCX
EPASX	0.8	0.49	0.31		0.8	0.7	EPASX
EMSLX	0.98	0.11	-0.13	0.8		0.85	EMSLX
ARTYX	0.88	0.01	-0.23	0.7	0.85		ARTYX
	HLEMX	DBELX	ABNCX	EPASX	EMSLX	ARTYX

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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

EMSLX	+ 0.98	HLEMX
ARTYX	+ 0.88	HLEMX
ARTYX	+ 0.85	EMSLX
EPASX	+ 0.8	HLEMX
EMSLX	+ 0.8	EPASX
ARTYX	+ 0.7	EPASX

High negative correlations

ARTYX	- 0.23	ABNCX
ABNCX	- 0.14	HLEMX
EMSLX	- 0.13	ABNCX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HLEMX	0.90	0.10	0.10	0.07	1.42	(0.87)	1.65	(2.20)	6.49
DBELX	0.32	0.07	0.45	(1.45)	0.19	(0.41)	0.82	(0.70)	2.20
ABNCX	0.21	0.00	0.34	(0.14)	0.26	(0.24)	0.49	(0.40)	1.76
EPASX	0.70	0.08	0.16	(1.68)	1.06	(0.72)	1.37	(1.63)	5.32
EMSLX	1.06	0.11	0.10	0.08	1.49	(1.14)	2.47	(2.40)	8.11
ARTYX	1.40	0.07	0.09	(1.53)	1.96	(1.38)	2.39	(2.97)	12.01

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