Invesco Income Correlations

ALAYX Fund

USD 11.28 0.02 0.18%

The current 90-days correlation between Invesco Income Allocation and Hennessy Nerstone Mid is 0.8 (i.e., Very poor diversification). The correlation of Invesco Income 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 Income Correlation With Market

Very poor diversification

The correlation between Invesco Income Allocation and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Income Allocation 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 Income Allocation. 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

0.81	OARDX	Oppenheimer Rising	Pair Corr
0.84	AMHYX	Invesco High Yield	Pair Corr
0.83	HYINX	Invesco High Yield	Pair Corr
0.82	BRCRX	Invesco Balanced Risk	Pair Corr
0.81	BRCNX	Invesco Balanced Risk	Pair Corr
0.81	BRCCX	Invesco Balanced Risk	Pair Corr
0.82	BRCYX	Invesco Balanced Risk	Pair Corr
0.87	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.85	STBAX	Invesco Short Term	Pair Corr
0.69	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	OCMIX	Oppenheimer Moderate	Pair Corr
0.82	OCRDX	Oppenheimer Rising	Pair Corr
0.77	STMUX	Invesco Short Term	Pair Corr
0.94	SCAYX	Invesco Low Volatility	Pair Corr
0.85	SCAUX	Invesco Low Volatility	Pair Corr
0.76	INBQX	Aim Investment Funds	Pair Corr
0.85	SCIUX	Invesco Low Volatility	Pair Corr
0.94	SCNUX	Invesco Low Volatility	Pair Corr
0.69	ODMAX	Oppenheimer Developing	Pair Corr
0.76	CGRWX	Oppenheimer Value	Pair Corr
0.69	IOGYX	Invesco Gold Special	Pair Corr
0.69	FTPIX	Invesco Technology	Pair Corr
0.75	GGHCX	Invesco Global Health	Pair Corr
0.76	CHRRX	Invesco Charter	Pair Corr
0.76	CHRSX	Invesco Charter	Pair Corr
0.76	CHTYX	Invesco Charter	Pair Corr

Moving against Invesco Mutual Fund

0.67	INGFX	Invesco Oppenheimer	Pair Corr
0.64	ODVIX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	HFMDX	BOSVX	WBVNX	LRSOX	MAVKX	PVCMX	QRSVX
HFMDX		0.77	0.84	0.8	0.89	0.76	0.88	HFMDX
BOSVX	0.77		0.92	0.88	0.93	0.78	0.68	BOSVX
WBVNX	0.84	0.92		0.92	0.93	0.83	0.75	WBVNX
LRSOX	0.8	0.88	0.92		0.89	0.9	0.73	LRSOX
MAVKX	0.89	0.93	0.93	0.89		0.84	0.83	MAVKX
PVCMX	0.76	0.78	0.83	0.9	0.84		0.75	PVCMX
QRSVX	0.88	0.68	0.75	0.73	0.83	0.75		QRSVX
	HFMDX	BOSVX	WBVNX	LRSOX	MAVKX	PVCMX	QRSVX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Income 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 Income'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
HFMDX	1.04	(0.02)	0.00	0.04	1.46	(1.00)	1.95	(2.48)	5.29
BOSVX	0.96	0.15	0.13	0.20	0.80	(1.13)	2.20	(1.44)	8.85
WBVNX	0.72	0.06	0.02	0.25	0.95	(0.72)	1.81	(1.61)	4.16
LRSOX	0.84	0.07	0.03	0.29	0.93	(0.99)	2.25	(1.66)	5.50
MAVKX	0.76	0.00	0.01	0.05	0.88	(0.83)	1.75	(1.40)	6.00
PVCMX	0.18	0.00	(0.21)	0.02	0.19	(0.23)	0.42	(0.42)	0.92
QRSVX	0.69	(0.05)	(0.05)	0.00	0.90	(0.75)	1.82	(1.11)	4.22

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