Invesco Global Correlations

GTHCX Fund

USD 17.31 0.17 0.99%

The current 90-days correlation between Invesco Global Health and Invesco Municipal Income is 0.21 (i.e., Modest 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

Modest diversification

The correlation between Invesco Global Health and DJI is 0.2 (i.e., Modest 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 main economic indicators.

Moving together with Invesco Mutual Fund

0.83	OARDX	Oppenheimer Rising	Pair Corr
0.96	OSMAX	Oppenheimer International	Pair Corr
0.96	OSMCX	Oppenheimer International	Pair Corr
0.81	PXCCX	Invesco Select Risk	Pair Corr
0.93	BRCRX	Invesco Balanced Risk	Pair Corr
0.91	BRCNX	Invesco Balanced Risk	Pair Corr
0.81	PXCIX	Invesco Select Risk	Pair Corr
0.94	BRCCX	Invesco Balanced Risk	Pair Corr
0.93	BRCAX	Invesco Balanced Risk	Pair Corr
0.91	BRCYX	Invesco Balanced Risk	Pair Corr
0.84	EMLDX	Invesco Emerging Markets	Pair Corr
0.76	OCCIX	Oppenheimer Cnsrvtv	Pair Corr

Moving against Invesco Mutual Fund

0.33	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.41	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.38	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.37	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	MLPEX	Steelpath Select	Pair Corr
0.34	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.34	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX
VMICX		1.0	0.92	0.53	0.75	0.64	0.6	0.6	0.74	0.73	VMICX
VMINX	1.0		0.92	0.52	0.78	0.61	0.57	0.56	0.76	0.75	VMINX
VMIIX	0.92	0.92		0.59	0.75	0.6	0.6	0.59	0.74	0.73	VMIIX
OARDX	0.53	0.52	0.59		0.53	0.18	0.79	0.8	0.55	0.54	OARDX
AMHYX	0.75	0.78	0.75	0.53		0.24	0.29	0.29	0.96	0.95	AMHYX
OSICX	0.64	0.61	0.6	0.18	0.24		0.61	0.6	0.24	0.25	OSICX
OSMAX	0.6	0.57	0.6	0.79	0.29	0.61		1.0	0.32	0.32	OSMAX
OSMCX	0.6	0.56	0.59	0.8	0.29	0.6	1.0		0.32	0.32	OSMCX
HYIFX	0.74	0.76	0.74	0.55	0.96	0.24	0.32	0.32		0.98	HYIFX
HYINX	0.73	0.75	0.73	0.54	0.95	0.25	0.32	0.32	0.98		HYINX
	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VMICX	0.20	(0.03)	(2.43)	0.34	(0.50)	1.68
VMINX	0.19	(0.03)	(2.31)	0.34	(0.49)	1.59
VMIIX	0.20	(0.04)	(0.68)	0.33	(0.49)	1.59
OARDX	0.65	(0.14)	(0.62)	0.89	(0.93)	12.98
AMHYX	0.11	(0.02)	(3.19)	0.28	(0.28)	0.56
OSICX	0.21	(0.06)	(1.10)	0.33	(0.64)	1.94
OSMAX	0.69	(0.33)	(1.51)	0.91	(1.25)	11.88
OSMCX	0.70	(0.34)	(1.56)	0.90	(1.22)	12.41
HYIFX	0.13	(0.02)	(1.16)	0.28	(0.28)	0.84
HYINX	0.11	(0.02)	(0.59)	0.28	(0.28)	0.84

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