Invesco Short Correlations

Mutual Funds . USA . 
Fund . Invesco Short Term
STBYX Fund  USD 8.11  0.01  0.12%   
The current 90-days correlation between Invesco Short Term and Mainstay Vertible Fund is 0.32 (i.e., Weak diversification). The correlation of Invesco Short 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 Short Correlation With Market

Very good diversification

The correlation between Invesco Short Term and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Short Term 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 Short Term. 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 manufacturing.

Moving together with Invesco Mutual Fund

  0.81OARDX Oppenheimer RisingPairCorr
  0.85AMHYX Invesco High YieldPairCorr
  0.94OSICX Oppenheimer StrategicPairCorr
  0.83OSMAX Oppenheimer InternationalPairCorr
  0.69HYIFX Invesco High YieldPairCorr
  0.85HYINX Invesco High YieldPairCorr
  0.66ILAAX Invesco Income AllocationPairCorr
  0.7PXCCX Invesco Select RiskPairCorr
  0.69PXCIX Invesco Select RiskPairCorr
  0.63PXGGX Invesco Select RiskPairCorr
  0.63OTFCX Oppenheimer TargetPairCorr
  0.63EMLDX Invesco Emerging MarketsPairCorr
  0.66PXMQX Invesco Select RiskPairCorr
  0.63PXMSX Invesco Select RiskPairCorr
  0.61DIGGX Invesco DiscoveryPairCorr
  0.83PXMMX Invesco Select RiskPairCorr
  0.82PXQIX Invesco Select RiskPairCorr
  0.79OCAIX Oppenheimer AggrssvPairCorr
  0.7OCCIX Oppenheimer CnsrvtvPairCorr
  0.72STBAX Invesco Short TermPairCorr
  0.71STBCX Invesco Short TermPairCorr
  0.71STBRX Invesco Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Short 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 Short'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.

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