Invesco Short Correlations

Mutual Funds . USA . 
Fund . Invesco Short Term
STBAX Fund  USD 8.10  0.01  0.12%   
The current 90-days correlation between Invesco Short Term and Dreyfus Technology Growth is -0.01 (i.e., Good diversification). The correlation of Invesco Short 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 Short Correlation With Market

Average diversification

The correlation between Invesco Short Term and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Short Term 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 Short Term. 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 nation.

Moving together with Invesco Mutual Fund

  0.61VMIIX Invesco Municipal IncomePairCorr
  0.78AMHYX Invesco High YieldPairCorr
  0.94OSICX Oppenheimer StrategicPairCorr
  0.69OSMAX Oppenheimer InternationalPairCorr
  0.68OSMCX Oppenheimer InternationalPairCorr
  0.79HYIFX Invesco High YieldPairCorr
  0.8HYINX Invesco High YieldPairCorr
  0.73PXCCX Invesco Select RiskPairCorr
  0.73PXCIX Invesco Select RiskPairCorr
  0.9EMLDX Invesco Emerging MarketsPairCorr
  0.67OCCIX Oppenheimer CnsrvtvPairCorr
  1.0STBCX Invesco Short TermPairCorr
  0.65MLPRX Oppenheimer Steelpath MlpPairCorr
  0.99STBYX Invesco Short TermPairCorr
  0.99STBRX Invesco Short TermPairCorr
  0.66MLPDX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.77DIGGX Invesco DiscoveryPairCorr
  0.71OTFCX Oppenheimer TargetPairCorr
  0.4OCAIX Oppenheimer AggrssvPairCorr
  0.36PXGGX Invesco Select RiskPairCorr
  0.36PXQIX Invesco Select RiskPairCorr
  0.31OCRDX Oppenheimer RisingPairCorr

Related Correlations Analysis

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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   
WFSTX
+ 0.98
DTEYX
JAGTX
+ 0.97
DTEYX
JAGTX
+ 0.94
WFSTX
NWHOX
+ 0.85
WFSTX
TEFQX
+ 0.84
DTEYX
TEFQX
+ 0.83
WFSTX
  
High negative correlations   
JAGTX
- 0.18
SBHIX
NWHOX
- 0.11
SBHIX
SBHIX
- 0.02
DTEYX

Risk-Adjusted Indicators

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