Invesco Developing Correlations

Mutual Funds . USA . 
Fund . Invesco Developing Markets
GTDDX Fund  USD 37.16  0.15  0.40%   
The current 90-days correlation between Invesco Developing and Invesco Asia Pacific is 0.95 (i.e., Almost no diversification). The correlation of Invesco Developing 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 Developing Correlation With Market

Significant diversification

The correlation between Invesco Developing Markets and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Developing Markets and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Developing Markets. 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 unemployment.

Moving together with Invesco Mutual Fund

  0.96OARDX Oppenheimer RisingPairCorr
  0.93AMHYX Invesco High YieldPairCorr
  0.82OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.96OSMCX Oppenheimer InternationalPairCorr
  0.92HYIFX Invesco High YieldPairCorr
  0.94HYINX Invesco High YieldPairCorr
  0.93ILAAX Invesco Income AllocationPairCorr
  0.93PXCCX Invesco Select RiskPairCorr
  0.61BRCNX Invesco Balanced RiskPairCorr
  0.93PXCIX Invesco Select RiskPairCorr
  0.61BRCYX Invesco Balanced RiskPairCorr
  0.97PXGGX Invesco Select RiskPairCorr
  0.97OTFCX Oppenheimer TargetPairCorr
  0.87EMLDX Invesco Emerging MarketsPairCorr
  0.96PXMQX Invesco Select RiskPairCorr
  0.96PXMSX Invesco Select RiskPairCorr
  0.97DIGGX Invesco DiscoveryPairCorr
  0.97PXMMX Invesco Select RiskPairCorr
  0.97PXQIX Invesco Select RiskPairCorr
  0.97OCAIX Oppenheimer AggrssvPairCorr
  0.92OCCIX Oppenheimer CnsrvtvPairCorr
  0.83STBAX Invesco Short TermPairCorr
  0.83STBCX Invesco Short TermPairCorr
  0.72MLPRX Oppenheimer Steelpath MlpPairCorr
  0.82STBYX Invesco Short TermPairCorr
  0.84STBRX Invesco Short TermPairCorr
  0.73MLPDX Oppenheimer Steelpath MlpPairCorr
  0.68MLPAX Oppenheimer Steelpath MlpPairCorr
  0.64MLPGX Oppenheimer Steelpath MlpPairCorr
  0.77MLPFX Oppenheimer Steelpath MlpPairCorr
  0.76MLPEX Steelpath SelectPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Developing 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 Developing'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.

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