Invesco Gold Correlations

IOGYX Fund

USD 32.09 0.55 1.69%

The current 90-days correlation between Invesco Gold Special and Ab Value Fund is 0.07 (i.e., Significant diversification). The correlation of Invesco Gold 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 Gold Correlation With Market

Good diversification

The correlation between Invesco Gold Special and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Gold Special 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 Gold Special. 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

0.62	OSICX	Oppenheimer Strategic	Pair Corr
0.7	OSMAX	Oppenheimer International	Pair Corr
0.7	OSMCX	Oppenheimer International	Pair Corr
0.69	BRCRX	Invesco Balanced Risk	Pair Corr
0.69	BRCNX	Invesco Balanced Risk	Pair Corr
0.68	BRCCX	Invesco Balanced Risk	Pair Corr
0.67	BRCAX	Invesco Balanced Risk	Pair Corr
0.69	BRCYX	Invesco Balanced Risk	Pair Corr
0.72	EMLDX	Invesco Emerging Markets	Pair Corr
0.62	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Invesco Mutual Fund

0.32	OTFCX	Oppenheimer Target	Pair Corr
0.32	DIGGX	Invesco Discovery	Pair Corr

Related Correlations Analysis

	ABVCX	FFCDAX	FBJYGX	FSULTX	WABMSX	WRLDX	FZNOPX
ABVCX		0.5	-0.08	-0.07	0.93	0.58	0.78	ABVCX
FFCDAX	0.5		0.08	0.35	0.5	0.53	0.22	FFCDAX
FBJYGX	-0.08	0.08		0.73	0.19	0.56	-0.37	FBJYGX
FSULTX	-0.07	0.35	0.73		0.12	0.59	-0.37	FSULTX
WABMSX	0.93	0.5	0.19	0.12		0.63	0.72	WABMSX
WRLDX	0.58	0.53	0.56	0.59	0.63		0.07	WRLDX
FZNOPX	0.78	0.22	-0.37	-0.37	0.72	0.07		FZNOPX
	ABVCX	FFCDAX	FBJYGX	FSULTX	WABMSX	WRLDX	FZNOPX

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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

WABMSX	+ 0.93	ABVCX
FZNOPX	+ 0.78	ABVCX
FSULTX	+ 0.73	FBJYGX
FZNOPX	+ 0.72	WABMSX
WRLDX	+ 0.63	WABMSX
WRLDX	+ 0.59	FSULTX

High negative correlations

FZNOPX	- 0.37	FSULTX
FZNOPX	- 0.37	FBJYGX
FBJYGX	- 0.08	ABVCX
FSULTX	- 0.07	ABVCX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Gold 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 Gold'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
ABVCX	0.68	0.01	0.00	(0.02)	0.00	0.00	1.38	(1.63)	3.68
FFCDAX	0.12	(0.01)	0.00	0.93	0.00	0.00	0.21	(0.41)	1.14
FBJYGX	0.71	0.13	0.18	(0.73)	0.79	(0.73)	1.84	(1.37)	5.64
FSULTX	0.28	0.01	0.11	0.50	0.35	(0.30)	0.61	(0.51)	1.75
WABMSX	0.61	0.03	0.06	0.02	0.79	(0.62)	1.38	(1.29)	3.66
WRLDX	0.64	(0.02)	0.00	0.09	0.00	0.00	1.24	(1.68)	2.96
FZNOPX	0.77	0.04	0.06	0.03	0.85	(0.87)	1.93	(1.63)	3.75

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