Invesco Select Correlations

PXGGX Fund

USD 14.04 0.03 0.21%

The current 90-days correlation between Invesco Select Risk and The Gabelli Healthcare is 0.4 (i.e., Very weak diversification). The correlation of Invesco Select 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 Select Correlation With Market

Very weak diversification

The correlation between Invesco Select Risk and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Select Risk and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Select Risk. 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 price.

Moving together with Invesco Mutual Fund

0.89	OARDX	Oppenheimer Rising	Pair Corr
0.82	OTFCX	Oppenheimer Target	Pair Corr
0.89	PXMQX	Invesco Select Risk	Pair Corr
0.9	PXMSX	Invesco Select Risk	Pair Corr
0.75	DIGGX	Invesco Discovery	Pair Corr
0.89	PXMMX	Invesco Select Risk	Pair Corr
1.0	PXQIX	Invesco Select Risk	Pair Corr
1.0	OCAIX	Oppenheimer Aggrssv	Pair Corr

Moving against Invesco Mutual Fund

0.39	STBRX	Invesco Short Term	Pair Corr
0.38	STBYX	Invesco Short Term	Pair Corr
0.37	STBCX	Invesco Short Term	Pair Corr
0.36	STBAX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	XXGRX	SHSAX	LOGSX	LYFCX	VGHCX	SCHLX	DLRHX	BGHDX
XXGRX		0.85	0.9	0.88	0.37	0.87	0.77	0.01	XXGRX
SHSAX	0.85		0.77	0.97	0.27	0.99	0.92	-0.13	SHSAX
LOGSX	0.9	0.77		0.81	0.48	0.79	0.7	0.11	LOGSX
LYFCX	0.88	0.97	0.81		0.37	0.98	0.95	-0.07	LYFCX
VGHCX	0.37	0.27	0.48	0.37		0.29	0.24	0.5	VGHCX
SCHLX	0.87	0.99	0.79	0.98	0.29		0.93	-0.11	SCHLX
DLRHX	0.77	0.92	0.7	0.95	0.24	0.93		-0.11	DLRHX
BGHDX	0.01	-0.13	0.11	-0.07	0.5	-0.11	-0.11		BGHDX
	XXGRX	SHSAX	LOGSX	LYFCX	VGHCX	SCHLX	DLRHX	BGHDX

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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

SCHLX	+ 0.99	SHSAX
SCHLX	+ 0.98	LYFCX
LYFCX	+ 0.97	SHSAX
DLRHX	+ 0.95	LYFCX
DLRHX	+ 0.93	SCHLX
DLRHX	+ 0.92	SHSAX

High negative correlations

BGHDX	- 0.13	SHSAX
BGHDX	- 0.11	DLRHX
BGHDX	- 0.11	SCHLX
BGHDX	- 0.07	LYFCX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Select 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 Select'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
XXGRX	0.76	0.02	0.00	(0.03)	0.00	0.00	1.51	(1.62)	4.62
SHSAX	0.63	0.06	0.12	0.04	0.71	(0.70)	1.33	(0.95)	3.73
LOGSX	0.67	0.01	0.00	(0.04)	0.00	0.00	1.18	(1.52)	3.69
LYFCX	0.59	0.04	0.10	0.02	0.71	(0.61)	1.17	(1.20)	3.17
VGHCX	0.77	(0.10)	0.00	(0.26)	0.00	0.00	1.49	(1.50)	8.17
SCHLX	0.64	0.06	0.12	0.05	0.70	(0.72)	1.25	(1.17)	3.70
DLRHX	0.63	0.06	0.12	0.06	0.75	(0.76)	1.30	(1.24)	3.41
BGHDX	0.02	(0.02)	0.00	(1.44)	0.00	0.00	0.00	0.00	0.35

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