Invesco Income Correlations

Mutual Funds . USA . 
Fund . Invesco Income Allocation
CLIAX Fund  USD 11.27  0.05  0.44%   
The current 90-days correlation between Invesco Income Allocation and T Rowe Price is 0.51 (i.e., Very weak 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 0.87 (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 nation.

Moving together with Invesco Mutual Fund

  0.86OARDX Oppenheimer RisingPairCorr
  0.88AMHYX Invesco High YieldPairCorr
  0.87HYINX Invesco High YieldPairCorr
  0.8BRCRX Invesco Balanced RiskPairCorr
  0.79BRCNX Invesco Balanced RiskPairCorr
  0.79BRCCX Invesco Balanced RiskPairCorr
  0.8BRCYX Invesco Balanced RiskPairCorr
  0.93OCCIX Oppenheimer CnsrvtvPairCorr
  0.83STBAX Invesco Short TermPairCorr
  0.65MLPRX Oppenheimer Steelpath MlpPairCorr
  0.66MLPDX Oppenheimer Steelpath MlpPairCorr
  0.65MLPGX Oppenheimer Steelpath MlpPairCorr
  0.69MLPFX Oppenheimer Steelpath MlpPairCorr
  0.63MLPMX Oppenheimer Steelpath MlpPairCorr
  0.64MLPLX Oppenheimer Steelpath MlpPairCorr
  0.94OCMIX Oppenheimer ModeratePairCorr
  0.82OCRDX Oppenheimer RisingPairCorr
  0.75STMUX Invesco Short TermPairCorr
  0.95SCAYX Invesco Low VolatilityPairCorr
  0.95SCAUX Invesco Low VolatilityPairCorr
  0.78INBQX Aim Investment FundsPairCorr
  0.95SCIUX Invesco Low VolatilityPairCorr
  0.95SCNUX Invesco Low VolatilityPairCorr
  0.72ODMAX Oppenheimer DevelopingPairCorr
  0.79CGRWX Oppenheimer ValuePairCorr
  0.7IOGYX Invesco Gold SpecialPairCorr
  0.69FTPIX Invesco TechnologyPairCorr
  0.72GGHCX Invesco Global HealthPairCorr
  0.8CHRRX Invesco CharterPairCorr
  0.8CHRSX Invesco CharterPairCorr
  0.8CHTYX Invesco CharterPairCorr

Moving against Invesco Mutual Fund

  0.66INGFX Invesco OppenheimerPairCorr
  0.63ODVIX Oppenheimer DevelopingPairCorr

Related Correlations Analysis


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.

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