Invesco Short Correlations

STBYX Fund

USD 8.10 0.01 0.12%

The current 90-days correlation between Invesco Short Term and Federated Municipal Ultrashort is 0.66 (i.e., Poor 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

Significant diversification

The correlation between Invesco Short Term and DJI is 0.06 (i.e., Significant 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 manufacturing.

Moving together with Invesco Mutual Fund

0.77	AMHYX	Invesco High Yield	Pair Corr
0.94	OSICX	Oppenheimer Strategic	Pair Corr
0.68	OSMAX	Oppenheimer International	Pair Corr
0.66	OSMCX	Oppenheimer International	Pair Corr
0.78	HYIFX	Invesco High Yield	Pair Corr
0.79	HYINX	Invesco High Yield	Pair Corr
0.71	PXCCX	Invesco Select Risk	Pair Corr
0.61	BRCNX	Invesco Balanced Risk	Pair Corr
0.71	PXCIX	Invesco Select Risk	Pair Corr
0.62	BRCAX	Invesco Balanced Risk	Pair Corr
0.61	BRCYX	Invesco Balanced Risk	Pair Corr
0.89	EMLDX	Invesco Emerging Markets	Pair Corr
0.65	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.99	STBAX	Invesco Short Term	Pair Corr
0.99	STBCX	Invesco Short Term	Pair Corr
0.67	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.99	STBRX	Invesco Short Term	Pair Corr
0.68	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Invesco Mutual Fund

0.77	DIGGX	Invesco Discovery	Pair Corr
0.71	OTFCX	Oppenheimer Target	Pair Corr
0.42	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.39	PXQIX	Invesco Select Risk	Pair Corr
0.38	PXGGX	Invesco Select Risk	Pair Corr
0.31	OCRDX	Oppenheimer Rising	Pair Corr

Related Correlations Analysis

	FMUUX	RGVCX	GVPIX	RGVAX	FCSCX	PATFX	USGDX
FMUUX		0.9	0.72	0.9	0.95	0.79	0.83	FMUUX
RGVCX	0.9		0.91	1.0	0.93	0.77	0.97	RGVCX
GVPIX	0.72	0.91		0.91	0.71	0.78	0.97	GVPIX
RGVAX	0.9	1.0	0.91		0.92	0.78	0.97	RGVAX
FCSCX	0.95	0.93	0.71	0.92		0.68	0.83	FCSCX
PATFX	0.79	0.77	0.78	0.78	0.68		0.8	PATFX
USGDX	0.83	0.97	0.97	0.97	0.83	0.8		USGDX
	FMUUX	RGVCX	GVPIX	RGVAX	FCSCX	PATFX	USGDX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40
RGVCX	0.24	0.03	0.29	0.88	0.20	(0.30)	0.51	(0.42)	1.38
GVPIX	0.76	0.01	0.08	0.11	0.86	(0.83)	1.96	(1.45)	3.76
RGVAX	0.25	0.03	0.27	0.65	0.22	(0.31)	0.60	(0.43)	1.56
FCSCX	0.06	0.01	0.55	0.69	0.00	(0.18)	0.13	(0.13)	0.66
PATFX	0.18	(0.01)	0.00	(0.33)	0.00	0.00	0.36	(0.45)	1.26
USGDX	0.66	0.05	0.13	0.83	0.72	(0.80)	1.45	(1.37)	3.93

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