Invesco Small Correlations

Mutual Funds . USA . 
Fund . Invesco Small Cap
VSMIX Fund  USD 25.89  0.26  0.99%   
The current 90-days correlation between Invesco Small Cap and Invesco Municipal Income is 0.15 (i.e., Average diversification). The correlation of Invesco Small 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 Small Correlation With Market

Modest diversification

The correlation between Invesco Small Cap and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Small Cap 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 Small Cap. 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 gross domestic product.

Moving together with Invesco Mutual Fund

  0.7OARDX Oppenheimer RisingPairCorr
  0.76AMHYX Invesco High YieldPairCorr
  0.8HYIFX Invesco High YieldPairCorr
  0.74HYINX Invesco High YieldPairCorr
  0.73ILAAX Invesco Income AllocationPairCorr
  0.83PXGGX Invesco Select RiskPairCorr
  0.77OTFCX Oppenheimer TargetPairCorr
  0.8PXMQX Invesco Select RiskPairCorr
  0.8PXMSX Invesco Select RiskPairCorr
  0.99DIGGX Invesco DiscoveryPairCorr
  0.8PXMMX Invesco Select RiskPairCorr
  0.83PXQIX Invesco Select RiskPairCorr
  0.84OCAIX Oppenheimer AggrssvPairCorr
  0.7MLPRX Oppenheimer Steelpath MlpPairCorr
  0.7MLPDX Oppenheimer Steelpath MlpPairCorr
  0.73MLPAX Oppenheimer Steelpath MlpPairCorr
  0.74MLPGX Oppenheimer Steelpath MlpPairCorr
  0.74MLPFX Oppenheimer Steelpath MlpPairCorr
  0.75MLPEX Steelpath SelectPairCorr
  0.75MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.39INBQX Aim Investment FundsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Small 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 Small'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.20 (0.04) 0.00 (2.93) 0.00 
 0.00 
 0.34 
(0.50)
 1.68 
VMINX  0.19 (0.03) 0.00 (1.87) 0.00 
 0.00 
 0.41 
(0.49)
 1.59 
VMIIX  0.20 (0.03) 0.00 (0.51) 0.00 
 0.00 
 0.33 
(0.49)
 1.59 
OARDX  0.65 (0.13) 0.00 (0.69) 0.00 
 0.00 
 0.89 
(0.93)
 12.98 
AMHYX  0.10 (0.01) 0.00 (1.36) 0.00 
 0.00 
 0.28 
(0.28)
 0.84 
OSICX  0.23 (0.07) 0.00 (18.25) 0.00 
 0.00 
 0.63 
(0.64)
 1.94 
OSMAX  0.72 (0.32) 0.00 (2.20) 0.00 
 0.00 
 0.97 
(1.25)
 12.61 
OSMCX  0.73 (0.33) 0.00 (2.26) 0.00 
 0.00 
 0.98 
(1.22)
 13.19 
HYIFX  0.13 (0.02) 0.00 (0.44) 0.00 
 0.00 
 0.28 
(0.28)
 1.12 
HYINX  0.12 (0.02) 0.00 (0.52) 0.00 
 0.00 
 0.28 
(0.28)
 1.12 

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