Invesco Advantage Correlations

VKI Stock

USD 8.29 0.01 0.12%

The current 90-days correlation between Invesco Advantage MIT and Invesco Quality Municipal is 0.62 (i.e., Poor diversification). The correlation of Invesco Advantage 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.

Invesco Advantage Correlation With Market

Very weak diversification

The correlation between Invesco Advantage MIT and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Advantage MIT and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Advantage MIT. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Invesco Stock

0.66	BX	Blackstone Group	Pair Corr
0.74	CG	Carlyle Group	Pair Corr
0.71	DX	Dynex Capital Sell-off Trend	Pair Corr
0.8	GS	Goldman Sachs Group	Pair Corr
0.75	LC	LendingClub Corp	Pair Corr
0.75	MC	Moelis	Pair Corr
0.81	MS	Morgan Stanley	Pair Corr
0.78	SF	Stifel Financial Earnings Call This Week	Pair Corr
0.73	WT	WisdomTree	Pair Corr
0.63	VCTR	Victory Capital Holdings	Pair Corr
0.63	VRTS	Virtus Investment	Pair Corr
0.69	ENVA	Enova International	Pair Corr
0.61	ESHA	ESH Acquisition Corp	Pair Corr
0.66	FBRT	Franklin BSP Realty	Pair Corr
0.64	FDUS	Fidus Investment Corp	Pair Corr
0.7	ABR	Arbor Realty Trust	Pair Corr

Moving against Invesco Stock

0.71	DMYY	dMY Squared Technology	Pair Corr
0.56	TW	Tradeweb Markets	Pair Corr
0.52	V	Visa Class A	Pair Corr
0.52	AC	Associated Capital	Pair Corr
0.5	WU	Western Union	Pair Corr
0.43	XP	Xp Inc	Pair Corr
0.67	ETOR	eToro Group	Pair Corr
0.59	CWD	CaliberCos Class A	Pair Corr

Related Correlations Analysis

	IQI	VCV	KTF	VGM	VKQ	VMO	OIA	MFM	CXE	MYD
IQI		0.59	0.04	0.76	0.82	0.88	0.11	0.73	0.87	0.85	IQI
VCV	0.59		0.28	0.6	0.51	0.6	0.52	0.33	0.55	0.54	VCV
KTF	0.04	0.28		-0.07	0.24	0.07	0.73	0.04	0.01	0.15	KTF
VGM	0.76	0.6	-0.07		0.81	0.86	0.06	0.42	0.77	0.77	VGM
VKQ	0.82	0.51	0.24	0.81		0.86	0.24	0.59	0.78	0.86	VKQ
VMO	0.88	0.6	0.07	0.86	0.86		0.17	0.63	0.92	0.9	VMO
OIA	0.11	0.52	0.73	0.06	0.24	0.17		0.15	0.13	0.18	OIA
MFM	0.73	0.33	0.04	0.42	0.59	0.63	0.15		0.74	0.66	MFM
CXE	0.87	0.55	0.01	0.77	0.78	0.92	0.13	0.74		0.88	CXE
MYD	0.85	0.54	0.15	0.77	0.86	0.9	0.18	0.66	0.88		MYD
	IQI	VCV	KTF	VGM	VKQ	VMO	OIA	MFM	CXE	MYD

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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

CXE	+ 0.92	VMO
MYD	+ 0.9	VMO
VMO	+ 0.88	IQI
MYD	+ 0.88	CXE
CXE	+ 0.87	IQI
VMO	+ 0.86	VGM

High negative correlations

VGM

- 0.07

KTF

Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco Advantage Company 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 Advantage'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
IQI	0.44	0.01	(0.10)	0.13	0.50	(0.52)	0.87	(0.87)	2.74
VCV	0.53	(0.02)	(0.11)	(0.01)	0.76	(0.59)	1.20	(1.36)	4.20
KTF	0.31	(0.04)	0.00	(0.35)	0.00	0.00	0.47	(0.81)	1.58
VGM	0.34	0.01	(0.15)	0.20	0.36	(0.40)	0.75	(0.74)	2.15
VKQ	0.41	(0.02)	(0.17)	(0.02)	0.52	(0.42)	0.89	(0.78)	2.54
VMO	0.42	(0.01)	(0.15)	0.06	0.42	(0.56)	0.99	(0.78)	2.32
OIA	0.45	(0.06)	0.00	(0.16)	0.00	0.00	0.90	(0.89)	2.67
MFM	0.46	(0.02)	(0.13)	0.02	0.56	(0.55)	0.99	(1.16)	3.17
CXE	0.46	(0.03)	(0.14)	0.02	0.46	(0.67)	1.16	(0.86)	2.88
MYD	0.37	(0.03)	0.00	(0.05)	0.00	0.00	0.81	(0.91)	2.02

Invesco Advantage Corporate Management

Anthony LaCava	Independent Trustee	Profile
Todd Kuehl	Chief Compliance Officer	Profile
Teresa Ressel	Independent Trustee	Profile
Tim OReilly	Portfolio Manager	Profile
Robert Troccoli	Independent Trustee	Profile

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