Invesco High Correlations

Mutual Funds . USA . 
Fund . Invesco High Yield
ACTHX Fund  USD 8.70  0.02  0.23%   
The current 90-days correlation between Invesco High Yield and Small Midcap Dividend Income is -0.34 (i.e., Very good diversification). The correlation of Invesco High 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 High Correlation With Market

Very good diversification

The correlation between Invesco High Yield and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco High Yield 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 High Yield. 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 rate.

Moving together with Invesco Mutual Fund

  0.99VMICX Invesco Municipal IncomePairCorr
  0.99VMINX Invesco Municipal IncomePairCorr
  0.99VMIIX Invesco Municipal IncomePairCorr
  0.7OSICX Oppenheimer StrategicPairCorr
  0.72PXCCX Invesco Select RiskPairCorr
  0.71PXCIX Invesco Select RiskPairCorr
  0.64EMLDX Invesco Emerging MarketsPairCorr
  0.98OCACX Oppenheimer Roc CaPairCorr
  0.7OCCIX Oppenheimer CnsrvtvPairCorr
  0.74STBAX Invesco Short TermPairCorr
  0.76STBCX Invesco Short TermPairCorr
  0.72STBYX Invesco Short TermPairCorr
  0.75STBRX Invesco Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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