Invesco Select Correlations

PXCIX Fund

USD 9.04 0.04 0.44%

The current 90-days correlation between Invesco Select Risk and Auer Growth Fund is 0.51 (i.e., Very weak diversification). The correlation of Invesco Select 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 Select Correlation With Market

Poor diversification

The correlation between Invesco Select Risk and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Select Risk and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Select Risk. 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

0.94	OARDX	Oppenheimer Rising	Pair Corr
0.75	AMHYX	Invesco High Yield	Pair Corr
0.74	OSICX	Oppenheimer Strategic	Pair Corr
0.86	HYIFX	Invesco High Yield	Pair Corr
0.77	HYINX	Invesco High Yield	Pair Corr
0.63	ILAAX	Invesco Income Allocation	Pair Corr
0.88	PXCCX	Invesco Select Risk	Pair Corr
0.92	OTFCX	Oppenheimer Target	Pair Corr
0.74	EMLDX	Invesco Emerging Markets	Pair Corr
0.62	PXMQX	Invesco Select Risk	Pair Corr
0.87	PXMSX	Invesco Select Risk	Pair Corr
0.92	DIGGX	Invesco Discovery	Pair Corr
0.97	PXMMX	Invesco Select Risk	Pair Corr
0.86	PXQIX	Invesco Select Risk	Pair Corr
0.96	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.63	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.69	STBAX	Invesco Short Term	Pair Corr
0.81	STBCX	Invesco Short Term	Pair Corr
0.84	STBYX	Invesco Short Term	Pair Corr
0.96	STBRX	Invesco Short Term	Pair Corr

Moving against Invesco Mutual Fund

0.4	VMINX	Invesco Municipal Income	Pair Corr
0.35	VMICX	Invesco Municipal Income	Pair Corr
0.33	VMIIX	Invesco Municipal Income	Pair Corr
0.38	OCACX	Oppenheimer Roc Ca	Pair Corr
0.48	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	AUERX	TWRCX	ASCGX	LANIX	ARTSX	LMLRX	TFAGX
AUERX		0.8	0.88	0.82	0.92	0.85	0.75	AUERX
TWRCX	0.8		0.97	0.95	0.9	0.95	0.97	TWRCX
ASCGX	0.88	0.97		0.92	0.93	0.95	0.93	ASCGX
LANIX	0.82	0.95	0.92		0.93	0.98	0.96	LANIX
ARTSX	0.92	0.9	0.93	0.93		0.95	0.89	ARTSX
LMLRX	0.85	0.95	0.95	0.98	0.95		0.96	LMLRX
TFAGX	0.75	0.97	0.93	0.96	0.89	0.96		TFAGX
	AUERX	TWRCX	ASCGX	LANIX	ARTSX	LMLRX	TFAGX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Select 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 Select'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
AUERX	0.65	0.16	0.19	0.29	0.30	(0.79)	1.69	(1.10)	3.43
TWRCX	0.62	0.08	0.07	0.19	0.61	(0.70)	1.36	(1.20)	3.56
ASCGX	0.95	0.10	0.10	0.17	0.92	(1.05)	1.95	(1.78)	6.48
LANIX	0.44	0.12	0.02	(0.62)	0.31	(0.52)	1.18	(0.74)	2.54
ARTSX	0.74	0.19	0.11	(1.47)	0.57	(0.86)	1.47	(1.23)	3.77
LMLRX	0.22	0.06	(0.11)	(1.21)	0.00	(0.29)	0.53	(0.37)	1.26
TFAGX	0.58	0.17	0.08	(0.57)	0.45	(0.70)	1.17	(1.06)	3.60

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