Invesco Short Correlations

Mutual Funds . USA . 
Fund . Invesco Short Term
STBRX Fund  USD 8.11  0.01  0.12%   
The current 90-days correlation between Invesco Short Term and Rationalpier 88 Convertible is -0.06 (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

Good diversification

The correlation between Invesco Short Term and DJI is -0.03 (i.e., Good 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 metropolitan statistical area.

Moving together with Invesco Mutual Fund

  0.62VMIIX Invesco Municipal IncomePairCorr
  0.74AMHYX Invesco High YieldPairCorr
  0.93OSICX Oppenheimer StrategicPairCorr
  0.68OSMAX Oppenheimer InternationalPairCorr
  0.67OSMCX Oppenheimer InternationalPairCorr
  0.76HYIFX Invesco High YieldPairCorr
  0.77HYINX Invesco High YieldPairCorr
  0.74PXCCX Invesco Select RiskPairCorr
  0.75PXCIX Invesco Select RiskPairCorr
  0.89EMLDX Invesco Emerging MarketsPairCorr
  0.71OCCIX Oppenheimer CnsrvtvPairCorr
  0.99STBAX Invesco Short TermPairCorr
  0.99STBCX Invesco Short TermPairCorr
  0.99STBYX Invesco Short TermPairCorr

Moving against Invesco Mutual Fund

  0.37OARDX Oppenheimer RisingPairCorr
  0.8DIGGX Invesco DiscoveryPairCorr
  0.75OTFCX Oppenheimer TargetPairCorr
  0.39OCAIX Oppenheimer AggrssvPairCorr
  0.36PXQIX Invesco Select RiskPairCorr
  0.35PXGGX Invesco Select RiskPairCorr
  0.39OCRDX 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   
FSAWX
+ 0.98
ARBOX
VAADX
+ 0.98
NCIDX
XAVKX
+ 0.96
PBXIX
NCIDX
+ 0.96
XAVKX
VAADX
+ 0.95
XAVKX
NCIDX
+ 0.93
PBXIX
  
High negative correlations   
VAADX
- 0.65
FSAWX
NCIDX
- 0.54
FSAWX
VAADX
- 0.52
ARBOX
FSAWX
- 0.5
XAVKX
FSAWX
- 0.42
PBXIX
NCIDX
- 0.39
ARBOX

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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