Invesco Low Correlations

SCAYX Fund

USD 10.88 0.10 0.91%

The current 90-days correlation between Invesco Low Volatility and T Rowe Price is -0.2 (i.e., Good diversification). The correlation of Invesco Low 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 Low Correlation With Market

Poor diversification

The correlation between Invesco Low Volatility and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Low Volatility and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Low Volatility. 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

0.72	ILAAX	Invesco Income Allocation	Pair Corr
0.93	PXGGX	Invesco Select Risk	Pair Corr
0.72	OTFCX	Oppenheimer Target	Pair Corr
0.98	PXMQX	Invesco Select Risk	Pair Corr
0.98	PXMSX	Invesco Select Risk	Pair Corr
0.98	PXMMX	Invesco Select Risk	Pair Corr
0.83	PXQIX	Invesco Select Risk	Pair Corr
0.92	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.62	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	MLPEX	Steelpath Select	Pair Corr
0.62	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	PRWBX	TASTX	AOUNX	MAUKX	ATOAX	QLENX	TAAQX
PRWBX		0.97	0.99	0.97	0.95	0.87	0.97	PRWBX
TASTX	0.97		0.97	0.94	0.92	0.86	1.0	TASTX
AOUNX	0.99	0.97		0.99	0.98	0.9	0.97	AOUNX
MAUKX	0.97	0.94	0.99		0.99	0.9	0.94	MAUKX
ATOAX	0.95	0.92	0.98	0.99		0.9	0.92	ATOAX
QLENX	0.87	0.86	0.9	0.9	0.9		0.86	QLENX
TAAQX	0.97	1.0	0.97	0.94	0.92	0.86		TAAQX
	PRWBX	TASTX	AOUNX	MAUKX	ATOAX	QLENX	TAAQX

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Low 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 Low'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
PRWBX	0.09	0.01	0.43	(0.27)	0.00	(0.25)	0.22	(0.22)	0.66
TASTX	0.08	0.01	0.79	0.56	0.00	(0.17)	0.21	(0.10)	0.62
AOUNX	0.05	0.01	0.00	(0.56)	0.00	0.00	0.10	(0.10)	0.52
MAUKX	0.04	0.01	0.00	(0.63)	0.00	0.00	0.10	0.00	0.63
ATOAX	0.02	0.00	0.00	(0.07)	0.00	0.00	0.00	0.00	0.30
QLENX	0.43	0.14	0.33	0.28	0.44	(0.47)	0.81	(0.65)	3.11
TAAQX	0.08	0.01	0.81	1.05	0.00	(0.16)	0.21	(0.10)	0.62

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Invesco Low Correlations

Invesco Low Correlation With Market

Poor diversification

Moving together with Invesco Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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