Aim Investment Correlations

INBQX Fund

USD 4.45 0.01 0.22%

The current 90-days correlation between Aim Investment Funds and Gabelli Global Financial is 0.49 (i.e., Very weak diversification). The correlation of Aim Investment 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.

Aim Investment Correlation With Market

Modest diversification

The correlation between Aim Investment Funds and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aim Investment Funds 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 Aim Investment Funds. 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 producer price index.

Moving together with Aim Mutual Fund

0.78	AMHYX	Invesco High Yield	Pair Corr
0.98	OSICX	Oppenheimer Strategic	Pair Corr
0.82	OSMAX	Oppenheimer International	Pair Corr
0.81	OSMCX	Oppenheimer International	Pair Corr
0.8	HYIFX	Invesco High Yield	Pair Corr
0.81	HYINX	Invesco High Yield	Pair Corr
0.68	ILAAX	Invesco Income Allocation	Pair Corr
0.78	PXCCX	Invesco Select Risk	Pair Corr
0.75	BRCRX	Invesco Balanced Risk	Pair Corr
0.76	BRCNX	Invesco Balanced Risk	Pair Corr
0.78	PXCIX	Invesco Select Risk	Pair Corr
0.74	BRCCX	Invesco Balanced Risk	Pair Corr
0.76	BRCAX	Invesco Balanced Risk	Pair Corr
0.76	BRCYX	Invesco Balanced Risk	Pair Corr
0.95	EMLDX	Invesco Emerging Markets Potential Growth	Pair Corr
0.72	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.92	STBAX	Invesco Short Term	Pair Corr
0.91	STBCX	Invesco Short Term	Pair Corr
0.78	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	STBYX	Invesco Short Term	Pair Corr
0.92	STBRX	Invesco Short Term	Pair Corr
0.79	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPEX	Steelpath Select	Pair Corr

Moving against Aim Mutual Fund

0.64	DIGGX	Invesco Discovery	Pair Corr
0.56	OTFCX	Oppenheimer Target	Pair Corr

Related Correlations Analysis

	GCFSX	FMFXX	HUCXX	SPAXX	IAAEX	SMAAX	ELMXX
GCFSX		0.0	0.0	0.79	0.13	0.72	0.0	GCFSX
FMFXX	0.0		0.0	0.0	0.0	0.0	0.0	FMFXX
HUCXX	0.0	0.0		0.0	0.0	0.0	0.0	HUCXX
SPAXX	0.79	0.0	0.0		-0.11	0.77	0.0	SPAXX
IAAEX	0.13	0.0	0.0	-0.11		0.14	0.0	IAAEX
SMAAX	0.72	0.0	0.0	0.77	0.14		0.0	SMAAX
ELMXX	0.0	0.0	0.0	0.0	0.0	0.0		ELMXX
	GCFSX	FMFXX	HUCXX	SPAXX	IAAEX	SMAAX	ELMXX

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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

SPAXX	+ 0.79	GCFSX
SMAAX	+ 0.77	SPAXX
SMAAX	+ 0.72	GCFSX
SMAAX	+ 0.14	IAAEX
IAAEX	+ 0.13	GCFSX
FMFXX	+ 0.0	GCFSX

High negative correlations

IAAEX	- 0.11	SPAXX
ELMXX	- 0.0	SMAAX
ELMXX	- 0.0	IAAEX
ELMXX	- 0.0	SPAXX
ELMXX	- 0.0	HUCXX
SMAAX	- 0.0	HUCXX

Risk-Adjusted Indicators

There is a big difference between Aim Mutual Fund performing well and Aim Investment 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 Aim Investment'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
GCFSX	0.75	0.10	0.10	0.06	1.04	(0.76)	1.80	(2.41)	4.68
FMFXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HUCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPAXX	0.03	0.01	0.00	0.62	0.00	0.00	0.00	0.00	1.01
IAAEX	0.80	(0.12)	0.00	(0.32)	0.00	0.00	1.41	(1.48)	9.17
SMAAX	0.13	(0.01)	0.00	(0.61)	0.00	0.00	0.20	(0.39)	0.90
ELMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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