Invesco Equally-weighted Correlations

VADFX Fund

USD 73.43 0.19 0.26%

The current 90-days correlation between Invesco Equally-weighted and Legg Mason Partners is 0.83 (i.e., Very poor diversification). The correlation of Invesco Equally-weighted 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 Equally-weighted Correlation With Market

Poor diversification

The correlation between Invesco Equally Weighted Sp and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Equally Weighted Sp 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 Equally Weighted Sp. 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 census.

Moving together with Invesco Mutual Fund

0.67	DIGGX	Invesco Discovery	Pair Corr
0.96	OCMIX	Oppenheimer Moderate	Pair Corr
0.71	FSIUX	Invesco Dividend Income	Pair Corr
0.66	ODICX	Oppenheimer Discovery	Pair Corr
0.7	FTCHX	Invesco Technology	Pair Corr
0.7	OEGAX	Oppenheimer Discovery Mid	Pair Corr
0.9	CHFTX	Invesco Charter	Pair Corr
0.9	CHRRX	Invesco Charter	Pair Corr
0.9	CHRSX	Invesco Charter	Pair Corr
0.9	CHTVX	Invesco Charter	Pair Corr
0.89	CHTCX	Invesco Charter	Pair Corr
0.7	DMCFX	Invesco Discovery Mid	Pair Corr
0.96	RSDQX	Invesco Rising Dividends	Pair Corr
0.99	VADAX	Invesco Equally-weighted	Pair Corr
0.75	VAFAX	Invesco American Fra	Pair Corr
0.93	AADSX	Invesco Growth Allocation	Pair Corr

Moving against Invesco Mutual Fund

0.5

OFIAX

Oppenheimer Corporate

Pair Corr

Related Correlations Analysis

	QLMSTX	ARTSX	CMPAX	CCMSX	QSERX	HSCVX	PMDDX	SECAX
QLMSTX		0.89	0.93	0.0	0.95	0.95	0.94	0.91	QLMSTX
ARTSX	0.89		0.93	0.0	0.91	0.93	0.89	0.91	ARTSX
CMPAX	0.93	0.93		0.0	0.95	0.99	0.96	0.95	CMPAX
CCMSX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CCMSX
QSERX	0.95	0.91	0.95	0.0		0.97	0.92	0.96	QSERX
HSCVX	0.95	0.93	0.99	0.0	0.97		0.97	0.96	HSCVX
PMDDX	0.94	0.89	0.96	0.0	0.92	0.97		0.92	PMDDX
SECAX	0.91	0.91	0.95	0.0	0.96	0.96	0.92		SECAX
	QLMSTX	ARTSX	CMPAX	CCMSX	QSERX	HSCVX	PMDDX	SECAX

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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

HSCVX	+ 0.99	CMPAX
HSCVX	+ 0.97	QSERX
PMDDX	+ 0.97	HSCVX
PMDDX	+ 0.96	CMPAX
SECAX	+ 0.96	QSERX
SECAX	+ 0.96	HSCVX

High negative correlations

SECAX	- 0.0	CCMSX
PMDDX	- 0.0	CCMSX
HSCVX	- 0.0	CCMSX
QSERX	- 0.0	CCMSX
CCMSX	- 0.0	CMPAX
CCMSX	- 0.0	ARTSX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Equally-weighted 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 Equally-weighted'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
QLMSTX	1.04	(0.12)	(0.10)	1.75	(2.77)	5.65
ARTSX	1.18	(0.13)	0.89	2.24	(3.17)	5.69
CMPAX	0.77	(0.11)	(0.12)	1.21	(1.63)	3.50
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00
QSERX	1.00	(0.14)	(0.11)	1.89	(2.37)	5.43
HSCVX	0.81	(0.10)	(0.11)	1.45	(1.78)	3.38
PMDDX	0.84	(0.09)	(0.09)	1.52	(1.78)	3.94
SECAX	1.07	(0.25)	(0.22)	1.84	(2.57)	11.41

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