Invesco European Correlations

ESMAX Fund

USD 15.67 0.04 0.25%

The current 90-days correlation between Invesco European Small and Invesco International Small is 0.87 (i.e., Very poor 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.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco European Small. 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 nation.

Moving together with Invesco Mutual Fund

0.78	OSICX	Oppenheimer Strategic	Pair Corr
0.91	OSMAX	Oppenheimer International	Pair Corr
0.91	OSMCX	Oppenheimer International	Pair Corr
0.86	EMLDX	Invesco Emerging Markets	Pair Corr

Moving against Invesco Mutual Fund

0.71	DIGGX	Invesco Discovery	Pair Corr
0.7	OARDX	Oppenheimer Rising	Pair Corr
0.68	OTFCX	Oppenheimer Target	Pair Corr
0.56	PXGGX	Invesco Select Risk	Pair Corr
0.56	PXQIX	Invesco Select Risk	Pair Corr
0.54	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.45	AMHYX	Invesco High Yield	Pair Corr
0.45	HYIFX	Invesco High Yield	Pair Corr
0.44	HYINX	Invesco High Yield	Pair Corr
0.44	PXMQX	Invesco Select Risk	Pair Corr
0.44	PXMMX	Invesco Select Risk	Pair Corr
0.43	PXMSX	Invesco Select Risk	Pair Corr
0.86	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.86	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.85	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.85	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	MLPEX	Steelpath Select	Pair Corr
0.73	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.71	ODIIX	Oppenheimer Discovery	Pair Corr
0.7	SCAYX	Invesco Low Volatility	Pair Corr

Related Correlations Analysis

	IEGAX	AEDAX	ASIAX	ESMCX	GTDDX
IEGAX		0.83	0.9	0.86	0.92	IEGAX
AEDAX	0.83		0.66	0.98	0.62	AEDAX
ASIAX	0.9	0.66		0.72	0.95	ASIAX
ESMCX	0.86	0.98	0.72		0.67	ESMCX
GTDDX	0.92	0.62	0.95	0.67		GTDDX
	IEGAX	AEDAX	ASIAX	ESMCX	GTDDX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IEGAX	0.50	(0.02)	0.00	(0.39)	0.00	0.00	0.95	(0.96)	3.42
AEDAX	0.63	(0.11)	0.00	(0.20)	0.00	0.00	1.15	(1.41)	4.05
ASIAX	0.71	0.02	(0.08)	0.20	0.84	(0.79)	1.70	(1.25)	4.91
ESMCX	0.55	(0.07)	0.00	(0.14)	0.00	0.00	1.52	(1.07)	3.40
GTDDX	0.66	0.02	(0.11)	0.37	0.77	(0.71)	1.83	(1.57)	4.15

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Invesco European Correlations

Moving together with Invesco Mutual Fund

Moving against Invesco Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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