Invesco California Correlations

Mutual Funds . USA . 
Fund . Invesco California Value
XVCVX Fund  USD 10.51  0.01  0.1%   
The current 90-days correlation between Invesco California Value and Intermediate Term Bond Fund is 0.59 (i.e., Very weak diversification). The correlation of Invesco California 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 California Correlation With Market

Significant diversification

The correlation between Invesco California Value and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco California Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Invesco California Value. 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

  0.73VTSAX Vanguard Total StockPairCorr
  0.74VFIAX Vanguard 500 IndexPairCorr
  0.75VTSMX Vanguard Total StockPairCorr
  0.75VITSX Vanguard Total StockPairCorr
  0.73VSTSX Vanguard Total StockPairCorr
  0.73VSMPX Vanguard Total StockPairCorr
  0.74VFINX Vanguard 500 IndexPairCorr
  0.73VFFSX Vanguard 500 IndexPairCorr
  0.77VGTSX Vanguard Total InterPairCorr
  0.76VTIAX Vanguard Total InterPairCorr
  0.83XDSMX Dreyfus StrategicPairCorr
  0.82XNXJX Nuveen New JerseyPairCorr
  0.82NXJ Nuveen New JerseyPairCorr
  0.61XPPRX Voya Prime RatePairCorr
  0.84XNBHX Neuberger Berman IntPairCorr
  0.68TWACX Short Term GovernmentPairCorr
  0.88LPXCX Cohen Steers LowPairCorr
  0.84TEWTX Templeton WorldPairCorr
  0.74ONRDX Oppenheimer RisingPairCorr
  0.94BBCPX Bridge Builder EPairCorr
  0.9AYBLX Pioneer Classic BalancedPairCorr
  0.74RSHRX Columbia High YieldPairCorr
  0.74OCRDX Oppenheimer RisingPairCorr
  0.88PRTYX Putnam RetirementreadyPairCorr
  0.92JSVCX James Alpha StructuredPairCorr
  0.83XAFBX AlliancebernsteinPairCorr
  0.89PSPJX Largecap Sp 500PairCorr
  0.92BERSX Carillon Chartwell RealPairCorr
  0.75HGLB Highland Global AlloPairCorr
  0.89TFIHX Tiaa Cref LifecyclePairCorr
  0.75RLGAX Riverfront Dynamic EquityPairCorr
  0.93ORNYX Oppenheimer Roc HighPairCorr
  0.95FTDWX Fidelity Asset ManagerPairCorr

Moving against Invesco Mutual Fund

  0.42PNF Pimco New YorkPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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