Invesco Small Correlations

Mutual Funds . USA . 
Fund . Invesco Small Cap
SMEYX Fund  USD 16.95  0.10  0.59%   
The current 90-days correlation between Invesco Small Cap and Furyax is 0.19 (i.e., Average diversification). The correlation of Invesco Small 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 Small Correlation With Market

Weak diversification

The correlation between Invesco Small Cap and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Small Cap 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 Small Cap. 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

  0.77VMICX Invesco Municipal IncomePairCorr
  0.78VMINX Invesco Municipal IncomePairCorr
  0.73VMIIX Invesco Municipal IncomePairCorr
  0.8OARDX Oppenheimer RisingPairCorr
  0.72OSMAX Oppenheimer InternationalPairCorr
  0.72OSMCX Oppenheimer InternationalPairCorr
  0.81ILAAX Invesco Income AllocationPairCorr
  0.82PXCCX Invesco Select RiskPairCorr
  0.82PXCIX Invesco Select RiskPairCorr
  0.94PXGGX Invesco Select RiskPairCorr
  0.82OTFCX Oppenheimer TargetPairCorr
  0.7EMLDX Invesco Emerging MarketsPairCorr
  0.71PXMQX Invesco Select RiskPairCorr
  0.77PXMSX Invesco Select RiskPairCorr
  0.95DIGGX Invesco DiscoveryPairCorr
  0.71PXMMX Invesco Select RiskPairCorr
  0.94PXQIX Invesco Select RiskPairCorr
  0.69OCACX Oppenheimer Roc CaPairCorr
  0.94OCAIX Oppenheimer AggrssvPairCorr
  0.86OCCIX Oppenheimer CnsrvtvPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Small 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 Small'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.

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