Invesco American Correlations

VAFIX Fund

USD 35.74 0.15 0.42%

The current 90-days correlation between Invesco American Fra and Technology Portfolio Technology is 0.92 (i.e., Almost no diversification). The correlation of Invesco American 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 American Correlation With Market

Poor diversification

The correlation between Invesco American Franchise and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco American Franchise 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 American Franchise. 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 gross domestic product.

Moving together with Invesco Mutual Fund

0.62	OSMAX	Oppenheimer International	Pair Corr
0.62	OSMCX	Oppenheimer International	Pair Corr
0.83	OTFCX	Oppenheimer Target	Pair Corr

Moving against Invesco Mutual Fund

0.38	BRCRX	Invesco Balanced Risk	Pair Corr
0.38	BRCAX	Invesco Balanced Risk	Pair Corr
0.36	BRCCX	Invesco Balanced Risk	Pair Corr
0.32	BRCNX	Invesco Balanced Risk	Pair Corr
0.42	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.33	EMLDX	Invesco Emerging Markets	Pair Corr
0.32	BRCYX	Invesco Balanced Risk	Pair Corr
0.39	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.38	STMUX	Invesco Short Term	Pair Corr
0.37	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.37	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.34	INBQX	Aim Investment Funds	Pair Corr
0.33	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	FSPTX	TWCGX	DFSTX	DFSVX	OTCIX	TEPLX	GQGPX	LZOEX	CBTAX	WCMRX
FSPTX		0.63	0.01	-0.16	-0.01	0.55	0.62	0.49	0.48	-0.03	FSPTX
TWCGX	0.63		0.38	0.23	-0.2	0.9	0.43	0.58	0.42	-0.06	TWCGX
DFSTX	0.01	0.38		0.93	0.23	0.48	-0.23	0.03	-0.2	0.15	DFSTX
DFSVX	-0.16	0.23	0.93		0.12	0.36	-0.23	0.05	-0.27	-0.02	DFSVX
OTCIX	-0.01	-0.2	0.23	0.12		-0.3	-0.24	-0.66	-0.61	0.7	OTCIX
TEPLX	0.55	0.9	0.48	0.36	-0.3		0.43	0.67	0.52	-0.2	TEPLX
GQGPX	0.62	0.43	-0.23	-0.23	-0.24	0.43		0.7	0.7	-0.53	GQGPX
LZOEX	0.49	0.58	0.03	0.05	-0.66	0.67	0.7		0.86	-0.67	LZOEX
CBTAX	0.48	0.42	-0.2	-0.27	-0.61	0.52	0.7	0.86		-0.64	CBTAX
WCMRX	-0.03	-0.06	0.15	-0.02	0.7	-0.2	-0.53	-0.67	-0.64		WCMRX
	FSPTX	TWCGX	DFSTX	DFSVX	OTCIX	TEPLX	GQGPX	LZOEX	CBTAX	WCMRX

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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

DFSVX	+ 0.93	DFSTX
TEPLX	+ 0.9	TWCGX
CBTAX	+ 0.86	LZOEX
WCMRX	+ 0.7	OTCIX
LZOEX	+ 0.7	GQGPX
CBTAX	+ 0.7	GQGPX

High negative correlations

WCMRX	- 0.67	LZOEX
LZOEX	- 0.66	OTCIX
WCMRX	- 0.64	CBTAX
CBTAX	- 0.61	OTCIX
WCMRX	- 0.53	GQGPX
TEPLX	- 0.3	OTCIX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco American 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 American'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
FSPTX	1.02	0.08	0.05	0.14	1.54	(1.01)	2.22	(2.43)	6.86
TWCGX	0.74	0.05	(0.01)	0.58	1.01	(0.71)	1.71	(1.74)	4.44
DFSTX	0.78	0.00	(0.05)	0.06	1.07	(0.75)	1.87	(1.49)	4.93
DFSVX	0.80	0.00	(0.05)	0.06	1.05	(0.92)	1.72	(1.40)	5.34
OTCIX	0.98	(0.37)	0.00	(0.26)	0.00	0.00	1.17	(1.72)	15.26
TEPLX	0.55	0.04	(0.02)	0.50	0.75	(0.55)	1.28	(1.26)	3.83
GQGPX	0.42	0.06	(0.01)	1.73	0.46	(0.45)	0.80	(0.63)	2.53
LZOEX	0.50	0.09	0.07	0.25	0.47	(0.54)	1.10	(1.05)	2.74
CBTAX	0.07	0.01	(0.40)	(0.97)	0.00	(0.12)	0.10	(0.10)	0.51
WCMRX	0.68	(0.17)	0.00	(0.11)	0.00	0.00	1.43	(1.90)	6.54

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