Invesco Global Correlations

GTHIX Fund

USD 41.49 0.21 0.50%

The current 90-days correlation between Invesco Global Health and Pnc Emerging Markets is -0.09 (i.e., Good diversification). The correlation of Invesco Global 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 Global Correlation With Market

Significant diversification

The correlation between Invesco Global Health and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Health 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 Invesco Global Health. 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

0.92	VGHAX	Vanguard Health Care	Pair Corr
0.92	VGHCX	Vanguard Health Care	Pair Corr
0.94	THISX	T Rowe Price	Pair Corr
0.94	PRHSX	T Rowe Price	Pair Corr
0.93	VHCIX	Vanguard Health Care	Pair Corr
0.94	BHSRX	Blackrock Health Sciences	Pair Corr
0.94	SHSKX	Blackrock Health Sciences	Pair Corr
0.92	FSPHX	Health Care Portfolio	Pair Corr
0.94	SHISX	Blackrock Health Sciences	Pair Corr
0.94	SHSCX	Blackrock Health Sciences	Pair Corr
0.63	NEAMX	Neiman Large Cap	Pair Corr
0.92	GBMIX	Gmo Benchmark Free	Pair Corr
0.62	JYEBX	Jhancock Real Estate	Pair Corr
0.83	FHCOX	Federated Hermes Con	Pair Corr
0.84	OIBIX	Oppenheimer Intl	Pair Corr
0.88	RYGTX	Emerging Markets Bond	Pair Corr

Related Correlations Analysis

	PIEFX	SMPIX	SRWAX	SEDAX	HDCTX	OPTCX	JAAPX
PIEFX		0.7	0.54	0.24	0.7	0.47	0.59	PIEFX
SMPIX	0.7		0.78	0.67	0.93	0.66	0.74	SMPIX
SRWAX	0.54	0.78		0.81	0.83	0.92	0.93	SRWAX
SEDAX	0.24	0.67	0.81		0.78	0.79	0.8	SEDAX
HDCTX	0.7	0.93	0.83	0.78		0.71	0.84	HDCTX
OPTCX	0.47	0.66	0.92	0.79	0.71		0.83	OPTCX
JAAPX	0.59	0.74	0.93	0.8	0.84	0.83		JAAPX
	PIEFX	SMPIX	SRWAX	SEDAX	HDCTX	OPTCX	JAAPX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Global 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 Global'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
PIEFX	0.80	0.07	0.05	0.16	0.98	(0.88)	1.60	(1.61)	5.78
SMPIX	2.28	0.24	0.09	0.20	2.96	(2.40)	6.54	(5.47)	14.79
SRWAX	0.34	0.01	(0.03)	0.09	0.41	(0.36)	0.73	(0.71)	2.24
SEDAX	0.18	0.06	0.01	0.84	0.00	(0.25)	0.44	(0.33)	1.09
HDCTX	0.48	0.05	0.03	0.17	0.52	(0.51)	1.00	(0.99)	2.93
OPTCX	0.17	0.01	(0.21)	0.10	0.05	(0.23)	0.41	(0.30)	1.01
JAAPX	0.15	0.01	(0.20)	0.10	0.04	(0.18)	0.36	(0.30)	0.84

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Invesco Global Correlations

Invesco Global Correlation With Market

Significant diversification

Moving together with Invesco Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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