Invesco Comstock Correlations

ACSYX Fund

USD 31.36 0.29 0.93%

The current 90-days correlation between Invesco Comstock and Short Term Government Fund is 0.08 (i.e., Significant diversification). The correlation of Invesco Comstock 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 Comstock Correlation With Market

Almost no diversification

The correlation between Invesco Stock Fund and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Stock Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Stock Fund. 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

0.97	AMHYX	Invesco High Yield	Pair Corr
0.98	ODVIX	Oppenheimer Developing	Pair Corr
0.99	CHRRX	Invesco Charter	Pair Corr
0.99	CHRSX	Invesco Charter	Pair Corr
0.98	VAFFX	Invesco American Fra	Pair Corr
0.87	ACCHX	Invesco Porate Bond	Pair Corr
0.96	OIDAX	Oppenheimer International	Pair Corr
0.65	REINX	Invesco Real Estate	Pair Corr
0.98	ITYYX	Invesco Technology	Pair Corr
0.69	OLCCX	Oppenheimer Roc	Pair Corr
0.88	IEFCX	Invesco Energy	Pair Corr
0.89	IENIX	Invesco Energy	Pair Corr
0.97	PAAJX	Invesco Active Allocation	Pair Corr
0.98	AHYCX	Invesco High Yield	Pair Corr
0.93	IGFRX	Invesco International	Pair Corr
1.0	DDFIX	Invesco Diversified	Pair Corr
0.93	AIIYX	Invesco International	Pair Corr
0.7	OPIGX	Oppenheimer Core Bond	Pair Corr
0.97	OPOCX	Oppenheimer Discovery	Pair Corr
1.0	VVIAX	Vanguard Value Index	Pair Corr
1.0	DOXGX	Dodge Cox Stock	Pair Corr
0.99	AFMFX	American Mutual	Pair Corr
0.99	FFMMX	American Funds American	Pair Corr
0.97	FFFMX	American Funds American	Pair Corr
0.97	AMRMX	American Mutual	Pair Corr
0.97	AMFFX	American Mutual	Pair Corr
0.97	AMFCX	American Mutual	Pair Corr
1.0	DODGX	Dodge Stock Fund	Pair Corr
1.0	VIVAX	Vanguard Value Index	Pair Corr

Moving against Invesco Mutual Fund

0.35	OCACX	Oppenheimer Roc Ca	Pair Corr
0.33	VMICX	Invesco Municipal Income	Pair Corr

Related Correlations Analysis

	TWACX	HCSBX	BMBSX	TUGXX	SNCAX	TWTIX	MSVXX
TWACX		0.68	0.76	0.32	0.78	0.71	0.33	TWACX
HCSBX	0.68		0.94	0.58	0.91	0.82	0.66	HCSBX
BMBSX	0.76	0.94		0.63	0.97	0.92	0.68	BMBSX
TUGXX	0.32	0.58	0.63		0.63	0.72	0.85	TUGXX
SNCAX	0.78	0.91	0.97	0.63		0.94	0.65	SNCAX
TWTIX	0.71	0.82	0.92	0.72	0.94		0.74	TWTIX
MSVXX	0.33	0.66	0.68	0.85	0.65	0.74		MSVXX
	TWACX	HCSBX	BMBSX	TUGXX	SNCAX	TWTIX	MSVXX

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Comstock 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 Comstock'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
TWACX	0.09	0.00	(1.40)	0.01	0.00	(0.16)	0.22	(0.22)	0.56
HCSBX	0.05	0.02	0.00	(11.82)	0.00	0.00	0.10	(0.10)	0.42
BMBSX	0.09	0.01	(1.27)	(6.90)	0.00	(0.12)	0.18	(0.18)	0.45
TUGXX	0.03	0.01	0.00	4.08	0.00	0.00	0.00	0.00	1.01
SNCAX	0.09	0.00	(1.17)	0.19	0.00	(0.12)	0.22	(0.15)	0.52
TWTIX	0.12	0.00	(1.04)	0.13	0.05	(0.17)	0.29	(0.19)	0.86
MSVXX	0.03	0.00	0.00	2.04	0.00	0.00	0.00	0.00	1.01

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