Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXCCX Fund  USD 9.27  0.01  0.11%   
The current 90-days correlation between Invesco Select Risk and Alliancebernstein National Municipalome is 0.2 (i.e., Modest diversification). The correlation of Invesco Select 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 Select Correlation With Market

Poor diversification

The correlation between Invesco Select Risk and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Select Risk and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Select Risk. 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 private.

Moving together with Invesco Mutual Fund

  0.82VMINX Invesco Municipal IncomePairCorr
  0.85VMIIX Invesco Municipal IncomePairCorr
  0.62OARDX Oppenheimer RisingPairCorr
  0.77HYINX Invesco High YieldPairCorr
  0.97ILAAX Invesco Income AllocationPairCorr
  0.63BRCRX Invesco Balanced RiskPairCorr
  0.66PXCIX Invesco Select RiskPairCorr
  0.63BRCAX Invesco Balanced RiskPairCorr
  0.92PXGGX Invesco Select RiskPairCorr
  0.95PXMQX Invesco Select RiskPairCorr
  0.95PXMSX Invesco Select RiskPairCorr
  0.88DIGGX Invesco DiscoveryPairCorr
  0.95PXMMX Invesco Select RiskPairCorr
  0.92PXQIX Invesco Select RiskPairCorr
  0.68OCACX Oppenheimer Roc CaPairCorr
  0.72OCAIX Oppenheimer AggrssvPairCorr
  0.99OCCIX Oppenheimer CnsrvtvPairCorr
  0.68STBCX Invesco Short TermPairCorr
  0.72STBYX Invesco Short TermPairCorr
  0.69STBRX Invesco Short TermPairCorr
  0.72OCMIX Oppenheimer ModeratePairCorr
  0.61OCRDX Oppenheimer RisingPairCorr

Moving against Invesco Mutual Fund

  0.41MLPAX Oppenheimer Steelpath MlpPairCorr
  0.31MLPGX Oppenheimer Steelpath MlpPairCorr
  0.31MLPFX Oppenheimer Steelpath MlpPairCorr
  0.4MLPLX Oppenheimer Steelpath MlpPairCorr
  0.34MLPEX Steelpath SelectPairCorr
  0.31MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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