Invesco Advantage Correlations

VKI Stock

USD 8.67 0.03 0.35%

The current 90-days correlation between Invesco Advantage MIT and Invesco Quality Municipal is 0.73 (i.e., Poor diversification). The correlation of Invesco Advantage 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.

Invesco Advantage Correlation With Market

Modest diversification

The correlation between Invesco Advantage MIT and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Advantage MIT 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 Advantage MIT. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Invesco Stock

0.84	V	Visa Class A	Pair Corr
0.85	MA	Mastercard Sell-off Trend	Pair Corr
0.68	WSBF	Waterstone Financial	Pair Corr
0.62	COF	Capital One Financial	Pair Corr
0.63	GDST	Goldenstone Acquisition	Pair Corr
0.75	SNFCA	Security National Earnings Call This Week	Pair Corr
0.89	BBDC	Barings BDC	Pair Corr
0.84	COOP	Mr Cooper Group	Pair Corr
0.61	C	Citigroup Aggressive Push	Pair Corr
0.78	AC	Associated Capital	Pair Corr
0.81	BK	Bank of New York	Pair Corr

Moving against Invesco Stock

0.38	ORGN	Origin Materials	Pair Corr
0.35	WD	Walker Dunlop	Pair Corr
0.39	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.36	BITF	Bitfarms	Pair Corr
0.56	EG	Everest Group	Pair Corr
0.37	LC	LendingClub Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	IQI	VCV	KTF	VGM	VKQ	VMO	OIA	MFM	CXE	MYD
IQI		0.67	0.84	0.95	0.96	0.96	0.84	0.91	0.91	0.88	IQI
VCV	0.67		0.55	0.64	0.71	0.7	0.47	0.52	0.54	0.5	VCV
KTF	0.84	0.55		0.72	0.85	0.86	0.82	0.85	0.88	0.88	KTF
VGM	0.95	0.64	0.72		0.93	0.93	0.82	0.86	0.88	0.84	VGM
VKQ	0.96	0.71	0.85	0.93		0.98	0.87	0.87	0.91	0.9	VKQ
VMO	0.96	0.7	0.86	0.93	0.98		0.89	0.88	0.91	0.9	VMO
OIA	0.84	0.47	0.82	0.82	0.87	0.89		0.86	0.84	0.92	OIA
MFM	0.91	0.52	0.85	0.86	0.87	0.88	0.86		0.91	0.9	MFM
CXE	0.91	0.54	0.88	0.88	0.91	0.91	0.84	0.91		0.88	CXE
MYD	0.88	0.5	0.88	0.84	0.9	0.9	0.92	0.9	0.88		MYD
	IQI	VCV	KTF	VGM	VKQ	VMO	OIA	MFM	CXE	MYD

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Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco Advantage Company 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 Advantage'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
IQI	0.48	0.00	0.00	(0.08)	0.00	0.00	1.24	(0.83)	2.53
VCV	0.57	0.06	0.14	0.37	0.72	(0.61)	1.52	(1.18)	4.27
KTF	0.36	(0.04)	0.00	(0.53)	0.00	0.00	0.75	(0.95)	2.76
VGM	0.52	0.01	0.10	0.01	0.66	(0.51)	0.90	(1.19)	3.59
VKQ	0.49	(0.02)	0.00	(0.15)	0.00	0.00	1.04	(1.24)	3.24
VMO	0.42	(0.01)	0.00	(0.12)	0.00	0.00	0.96	(1.06)	2.19
OIA	0.61	(0.04)	0.00	(0.31)	0.00	0.00	1.32	(1.53)	3.67
MFM	0.61	(0.01)	0.00	(0.13)	0.00	0.00	1.12	(1.50)	3.55
CXE	0.59	(0.02)	0.00	(0.30)	0.00	0.00	0.82	(1.08)	4.08
MYD	0.47	(0.04)	0.00	(0.30)	0.00	0.00	0.97	(1.06)	2.63

Invesco Advantage Corporate Management

Anthony LaCava	Independent Trustee	Profile
Todd Kuehl	Chief Compliance Officer	Profile
Teresa Ressel	Independent Trustee	Profile
Tim OReilly	Portfolio Manager	Profile
Robert Troccoli	Independent Trustee	Profile

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