Invesco Quality Correlations

IQI Stock

USD 10.21 0.16 1.59%

The current 90-days correlation between Invesco Quality Municipal and MFS Municipal Income is 0.6 (i.e., Poor diversification). The correlation of Invesco Quality 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.

Invesco Quality Correlation With Market

Significant diversification

The correlation between Invesco Quality Municipal and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Quality Municipal 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 Quality Municipal. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving against Invesco Stock

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0.38	PFTAU	Portage Fintech Acqu	Pair Corr
0.33	DIST	Distoken Acquisition	Pair Corr
0.67	EMCG	Embrace Change Acqui	Pair Corr
0.43	ESHA	ESH Acquisition Corp	Pair Corr
0.43	WTMA	Welsbach Technology	Pair Corr
0.42	WAVSU	Western Acquisition	Pair Corr
0.35	WAVS	Western Acquisition	Pair Corr
0.31	FDUS	Fidus Investment Corp	Pair Corr
0.46	SYF	Synchrony Financial Sell-off Trend	Pair Corr
0.45	FRHC	Freedom Holding Corp	Pair Corr

Related Correlations Analysis

	MFM	MYD	CXE	CMU	MHD	DTF	JHS	CXH	CBH	EOT
MFM		0.84	0.84	0.84	0.88	0.22	0.45	0.77	-0.34	0.71	MFM
MYD	0.84		0.81	0.81	0.89	0.33	0.5	0.75	-0.18	0.62	MYD
CXE	0.84	0.81		0.81	0.9	-0.03	0.68	0.61	-0.44	0.77	CXE
CMU	0.84	0.81	0.81		0.85	0.18	0.54	0.85	-0.13	0.64	CMU
MHD	0.88	0.89	0.9	0.85		0.06	0.66	0.69	-0.44	0.7	MHD
DTF	0.22	0.33	-0.03	0.18	0.06		-0.23	0.44	0.43	0.01	DTF
JHS	0.45	0.5	0.68	0.54	0.66	-0.23		0.31	-0.5	0.53	JHS
CXH	0.77	0.75	0.61	0.85	0.69	0.44	0.31		0.04	0.48	CXH
CBH	-0.34	-0.18	-0.44	-0.13	-0.44	0.43	-0.5	0.04		-0.34	CBH
EOT	0.71	0.62	0.77	0.64	0.7	0.01	0.53	0.48	-0.34		EOT
	MFM	MYD	CXE	CMU	MHD	DTF	JHS	CXH	CBH	EOT

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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

MHD	+ 0.9	CXE
MHD	+ 0.89	MYD
MHD	+ 0.88	MFM
MHD	+ 0.85	CMU
CXH	+ 0.85	CMU
MYD	+ 0.84	MFM

High negative correlations

CBH	- 0.5	JHS
CBH	- 0.44	MHD
CBH	- 0.44	CXE
EOT	- 0.34	CBH
CBH	- 0.34	MFM
JHS	- 0.23	DTF

Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco Quality Company 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 Quality'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
MFM	0.46	0.05	(0.14)	(0.12)	0.52	(0.56)	1.08	(1.06)	2.71
MYD	0.52	0.03	(0.14)	0.76	0.54	(0.59)	1.15	(1.06)	2.65
CXE	0.49	0.00	(0.17)	0.11	0.54	(0.64)	1.33	(1.02)	3.34
CMU	0.40	0.06	(0.12)	(0.29)	0.41	(0.54)	1.11	(0.84)	2.54
MHD	0.50	0.03	(0.11)	(1.15)	0.73	(0.47)	1.00	(1.14)	3.11
DTF	0.23	0.01	(0.35)	(0.09)	0.23	(0.28)	0.54	(0.36)	1.96
JHS	0.30	(0.02)	(0.23)	0.03	0.40	(0.34)	0.78	(0.61)	3.04
CXH	0.34	0.05	(0.17)	(0.19)	0.40	(0.38)	0.86	(0.74)	2.10
CBH	0.13	0.04	(0.38)	2.76	0.00	(0.18)	0.22	(0.22)	0.78
EOT	0.37	0.03	(0.18)	(2.41)	0.40	(0.43)	0.86	(0.87)	2.08

Invesco Quality Corporate Management

Andrew Schlossberg	Senior Vice President	Profile
Anthony LaCava	Independent Trustee	Profile
Teresa Ressel	Independent Trustee	Profile
Tim OReilly	Portfolio Manager	Profile
Robert Troccoli	Independent Trustee	Profile

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