Invesco European Correlations

Mutual Funds . USA . 
Fund . Invesco European Small
ESMYX Fund  USD 14.09  0.03  0.21%   
The current 90-days correlation between Invesco European Small and Invesco Municipal Income is 0.11 (i.e., Average 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

Average diversification

The correlation between Invesco European Small and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco European Small and DJI in the same portfolio, assuming nothing else is changed.
  
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 manufacturing.

Moving together with Invesco Mutual Fund

  0.66OARDX Oppenheimer RisingPairCorr
  0.94OSMAX Oppenheimer InternationalPairCorr
  0.95OSMCX Oppenheimer InternationalPairCorr
  0.74PXCCX Invesco Select RiskPairCorr
  0.94BRCRX Invesco Balanced RiskPairCorr
  0.93BRCNX Invesco Balanced RiskPairCorr
  0.74PXCIX Invesco Select RiskPairCorr
  0.94BRCCX Invesco Balanced RiskPairCorr
  0.94BRCAX Invesco Balanced RiskPairCorr
  0.93BRCYX Invesco Balanced RiskPairCorr
  0.82EMLDX Invesco Emerging MarketsPairCorr
  0.76OCCIX Oppenheimer CnsrvtvPairCorr

Moving against Invesco Mutual Fund

  0.39MLPRX Oppenheimer Steelpath MlpPairCorr
  0.5MLPAX Oppenheimer Steelpath MlpPairCorr
  0.49MLPGX Oppenheimer Steelpath MlpPairCorr
  0.47MLPFX Oppenheimer Steelpath MlpPairCorr
  0.46MLPEX Steelpath SelectPairCorr
  0.46MLPLX Oppenheimer Steelpath MlpPairCorr
  0.45MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.20 (0.04) 0.00 (0.51) 0.00 
 0.00 
 0.34 
(0.50)
 1.68 
VMINX  0.19 (0.03) 0.00 (0.64) 0.00 
 0.00 
 0.41 
(0.49)
 1.59 
VMIIX  0.20 (0.03) 0.00 (0.51) 0.00 
 0.00 
 0.33 
(0.49)
 1.59 
OARDX  0.65 (0.13) 0.00 (0.69) 0.00 
 0.00 
 0.89 
(0.93)
 12.98 
AMHYX  0.10 (0.01) 0.00 (0.70) 0.00 
 0.00 
 0.28 
(0.28)
 0.84 
OSICX  0.22 (0.06) 0.00 (1.05) 0.00 
 0.00 
 0.63 
(0.64)
 1.94 
OSMAX  0.72 (0.31) 0.00 (1.40) 0.00 
 0.00 
 0.97 
(1.25)
 12.61 
OSMCX  0.73 (0.32) 0.00 (1.44) 0.00 
 0.00 
 0.98 
(1.22)
 13.19 
HYIFX  0.13 (0.02) 0.00 (0.44) 0.00 
 0.00 
 0.28 
(0.28)
 1.12 
HYINX  0.12 (0.02) 0.00 (0.62) 0.00 
 0.00 
 0.28 
(0.28)
 1.12 

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