Invesco Global Correlations

Mutual Funds . USA . 
Fund . Invesco Global Health
GGHYX Fund  USD 39.57  0.02  0.05%   
The current 90-days correlation between Invesco Global Health and Calamos Vertible Fund is 0.34 (i.e., Weak diversification). The correlation of Invesco Global 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 Global Correlation With Market

Very weak diversification

The correlation between Invesco Global Health and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Health and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Global Health. 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

  0.69OARDX Oppenheimer RisingPairCorr
  0.85PXMSX Invesco Select RiskPairCorr
  0.7IOGYX Invesco Gold SpecialPairCorr
  0.73OGMCX Oppenheimer Gold SpecialPairCorr
  0.81OIDAX Oppenheimer InternationalPairCorr
  0.68IARRX Invesco Real EstatePairCorr
  0.68REINX Invesco Real EstatePairCorr
  0.83CMASX Invesco ConservativePairCorr
  0.63ITYYX Invesco TechnologyPairCorr
  0.77CNSDX Invesco Vertible SecPairCorr
  0.75CNSCX Invesco Vertible SecPairCorr
  0.72GNDCX Invesco Global LowPairCorr
  0.79IEGFX Invesco InternationalPairCorr
  0.76IEGYX Invesco InternationalPairCorr
  0.63IEFCX Invesco EnergyPairCorr
  0.72ONYCX Oppenheimer RochesterPairCorr
  0.77DDFIX Invesco DiversifiedPairCorr
  0.85GTHCX Invesco Global HealthPairCorr
  0.63VGHAX Vanguard Health CarePairCorr
  0.63VGHCX Vanguard Health CarePairCorr
  0.71PRHSX T Rowe PricePairCorr
  0.74THISX T Rowe PricePairCorr
  0.85VHCIX Vanguard Health CarePairCorr
  0.89SHISX Blackrock Health SciencesPairCorr
  0.86SHSCX Blackrock Health SciencesPairCorr
  0.89SHSAX Blackrock Health SciencesPairCorr
  0.91SHSSX Blackrock Health SciencesPairCorr
  0.75USGFX Us Government SecuritiesPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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