Invesco Global Correlations

GNDIX Fund

USD 12.68 0.00 0.00%

The current 90-days correlation between Invesco Global Low and Aquagold International is -0.03 (i.e., Good diversification). The correlation of Invesco Global 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 Global Correlation With Market

Very good diversification

The correlation between Invesco Global Low and NYA is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Global Low and NYA in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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

0.64	VMICX	Invesco Municipal Income	Pair Corr
0.68	VMINX	Invesco Municipal Income	Pair Corr
0.66	VMIIX	Invesco Municipal Income	Pair Corr
0.82	OARDX	Oppenheimer Rising	Pair Corr
0.87	AMHYX	Invesco High Yield	Pair Corr
0.77	OSICX	Oppenheimer Strategic	Pair Corr
0.88	HYIFX	Invesco High Yield	Pair Corr
0.86	HYINX	Invesco High Yield	Pair Corr
0.79	ILAAX	Invesco Income Allocation	Pair Corr
0.85	PXCCX	Invesco Select Risk	Pair Corr
0.69	BRCRX	Invesco Balanced Risk	Pair Corr
0.69	BRCNX	Invesco Balanced Risk	Pair Corr
0.84	PXCIX	Invesco Select Risk	Pair Corr
0.69	BRCAX	Invesco Balanced Risk	Pair Corr
0.92	PXGGX	Invesco Select Risk	Pair Corr
0.67	OTFCX	Oppenheimer Target	Pair Corr
0.91	EMLDX	Invesco Emerging Markets	Pair Corr
0.91	PXMQX	Invesco Select Risk	Pair Corr
0.91	PXMSX	Invesco Select Risk	Pair Corr
0.81	DIGGX	Invesco Discovery	Pair Corr
0.94	PXMMX	Invesco Select Risk	Pair Corr
0.92	PXQIX	Invesco Select Risk	Pair Corr
0.9	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.75	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.73	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	MLPEX	Steelpath Select	Pair Corr
0.78	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.95	OCMIX	Oppenheimer Moderate	Pair Corr
0.83	OCRDX	Oppenheimer Rising	Pair Corr

Related Correlations Analysis

	AQUI	MSTSX	LBHIX	ABHYX	VIASP	RRTLX	JRBEX	AMPL	SCAXX	QUAYX
AQUI		-0.1	-0.12	-0.16	0.18	-0.17	-0.17	-0.04	-0.42	-0.15	AQUI
MSTSX	-0.1		0.87	0.52	0.38	0.92	0.94	0.35	0.49	0.92	MSTSX
LBHIX	-0.12	0.87		0.72	0.29	0.89	0.87	0.15	0.21	0.81	LBHIX
ABHYX	-0.16	0.52	0.72		0.05	0.62	0.56	0.18	-0.07	0.5	ABHYX
VIASP	0.18	0.38	0.29	0.05		0.3	0.36	-0.03	0.25	0.33	VIASP
RRTLX	-0.17	0.92	0.89	0.62	0.3		0.99	0.3	0.41	0.93	RRTLX
JRBEX	-0.17	0.94	0.87	0.56	0.36	0.99		0.35	0.5	0.96	JRBEX
AMPL	-0.04	0.35	0.15	0.18	-0.03	0.3	0.35		0.39	0.43	AMPL
SCAXX	-0.42	0.49	0.21	-0.07	0.25	0.41	0.5	0.39		0.58	SCAXX
QUAYX	-0.15	0.92	0.81	0.5	0.33	0.93	0.96	0.43	0.58		QUAYX
	AQUI	MSTSX	LBHIX	ABHYX	VIASP	RRTLX	JRBEX	AMPL	SCAXX	QUAYX

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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

JRBEX	+ 0.99	RRTLX
QUAYX	+ 0.96	JRBEX
JRBEX	+ 0.94	MSTSX
QUAYX	+ 0.93	RRTLX
RRTLX	+ 0.92	MSTSX
QUAYX	+ 0.92	MSTSX

High negative correlations

SCAXX	- 0.42	AQUI
JRBEX	- 0.17	AQUI
RRTLX	- 0.17	AQUI
ABHYX	- 0.16	AQUI
QUAYX	- 0.15	AQUI
LBHIX	- 0.12	AQUI

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Global 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 Global'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
AQUI	15.10	6.20	0.00	0.64	0.00	0.00	6.67	0.00	450.00
MSTSX	0.57	0.07	0.06	(1.06)	0.54	(0.73)	1.36	(1.03)	3.06
LBHIX	0.21	0.02	(0.04)	(0.27)	0.15	(0.36)	0.50	(0.49)	1.49
ABHYX	0.16	0.00	(0.07)	0.00	0.14	(0.24)	0.46	(0.35)	1.05
VIASP	4.14	0.23	0.03	(0.17)	6.13	(3.90)	8.02	(9.74)	28.91
RRTLX	0.28	0.04	0.02	(0.57)	0.21	(0.33)	0.62	(0.44)	1.42
JRBEX	0.37	0.06	0.06	(0.86)	0.28	(0.42)	0.85	(0.61)	1.86
AMPL	2.68	0.11	0.01	3.09	4.36	(3.16)	4.72	(5.50)	44.59
SCAXX	0.03	0.01	0.00	(0.27)	0.00	0.00	0.00	0.00	1.01
QUAYX	0.80	0.09	0.07	(1.82)	0.78	(0.87)	1.44	(1.38)	3.80

Invesco Global Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Invesco Global mutual fund to make a market-neutral strategy. Peer analysis of Invesco Global could also be used in its relative valuation, which is a method of valuing Invesco Global by comparing valuation metrics with similar companies.

Aquagold International Morningstar Unconstrained Allocation Thrivent High Yield High Yield Municipal Fund Via Renewables T Rowe Price Jpmorgan Smartretirement Blend Ampleforth Schwab California Municipal Ab Small Cap American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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