Invesco European Correlations

AEDYX Fund  USD 33.92  0.05  0.15%   
The current 90-days correlation between Invesco European Growth and Siit Emerging Markets is 0.41 (i.e., Very weak diversification). The correlation of Invesco European 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 European Correlation With Market

InvescoDowDiversified AwayInvescoDowDiversified Away100%

Modest diversification

The correlation between Invesco European Growth and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco European Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco European Growth. 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

  0.77VMICX Invesco Municipal IncomePairCorr
  0.76VMINX Invesco Municipal IncomePairCorr
  0.74VMIIX Invesco Municipal IncomePairCorr
  0.88OARDX Oppenheimer RisingPairCorr
  0.95OSMAX Oppenheimer InternationalPairCorr
  0.94OSMCX Oppenheimer InternationalPairCorr
  0.68ILAAX Invesco Income AllocationPairCorr
  0.74PXCCX Invesco Select RiskPairCorr
  0.74PXCIX Invesco Select RiskPairCorr
  0.91PXGGX Invesco Select RiskPairCorr
  0.88OTFCX Oppenheimer TargetPairCorr
  0.74EMLDX Invesco Emerging MarketsPairCorr
  0.67PXMQX Invesco Select RiskPairCorr
  0.68PXMSX Invesco Select RiskPairCorr
  0.86DIGGX Invesco Discovery Potential GrowthPairCorr
  0.66PXMMX Invesco Select RiskPairCorr
  0.91PXQIX Invesco Select RiskPairCorr
  0.75OCACX Oppenheimer Roc CaPairCorr
  0.91OCAIX Oppenheimer AggrssvPairCorr
  0.81OCCIX Oppenheimer CnsrvtvPairCorr

Moving against Invesco Mutual Fund

  0.31STBYX Invesco Short TermPairCorr

Related Correlations Analysis

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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   
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DEDIXSEDAX
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IJPTXSEDAX
IJPTXDEDIX
  
High negative correlations   
RYMBXSEKRX

Risk-Adjusted Indicators

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