Invesco Multi Correlations

IPNFX Fund

USD 8.21 0.01 0.12%

The current 90-days correlation between Invesco Multi Asset and Segall Bryant Hamill is 0.46 (i.e., Very weak diversification). The correlation of Invesco Multi 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 Multi Correlation With Market

Poor diversification

The correlation between Invesco Multi Asset and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Multi Asset and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Multi Asset. 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 price.

Moving together with Invesco Mutual Fund

0.69	VWIAX	Vanguard Wellesley Income	Pair Corr
0.95	VWINX	Vanguard Wellesley Income	Pair Corr
0.98	BKMIX	Blackrock Multi Asset	Pair Corr
0.91	HBLTX	Hartford Balanced	Pair Corr
0.9	HBLRX	Hartford Balanced	Pair Corr
0.91	HBLSX	Hartford Balanced	Pair Corr
0.91	HBLVX	Hartford Balanced	Pair Corr
0.9	HBLFX	Hartford Balanced	Pair Corr
0.91	HBLYX	Hartford Balanced	Pair Corr
0.9	HBLCX	Hartford Balanced	Pair Corr
0.81	ASG	Liberty All Star	Pair Corr
0.85	CII	Blackrock Enhanced	Pair Corr
0.89	ETV	Eaton Vance Tax	Pair Corr
0.66	CLM	Cornerstone Strategic	Pair Corr
0.71	CRF	Cornerstone Total Return	Pair Corr
0.87	USA	Liberty All Star	Pair Corr
0.77	NFJ	Virtus Dividend Interest	Pair Corr
0.61	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.64	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.87	BA	Boeing	Pair Corr

Moving against Invesco Mutual Fund

0.37	IFN	India Closed	Pair Corr
0.54	T	ATT Inc Earnings Call This Week	Pair Corr
0.36	HPQ	HP Inc	Pair Corr
0.34	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	SECAX	PMDDX	HSCVX	JAADX	MMSCX	NSCFX	SBHVX
SECAX		0.95	0.9	0.94	0.97	0.98	0.92	SECAX
PMDDX	0.95		0.94	0.96	0.93	0.96	0.93	PMDDX
HSCVX	0.9	0.94		0.89	0.86	0.91	0.95	HSCVX
JAADX	0.94	0.96	0.89		0.93	0.94	0.9	JAADX
MMSCX	0.97	0.93	0.86	0.93		0.98	0.9	MMSCX
NSCFX	0.98	0.96	0.91	0.94	0.98		0.93	NSCFX
SBHVX	0.92	0.93	0.95	0.9	0.9	0.93		SBHVX
	SECAX	PMDDX	HSCVX	JAADX	MMSCX	NSCFX	SBHVX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Multi 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 Multi'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
SECAX	0.98	0.20	0.19	0.24	0.72	(1.18)	2.21	(1.62)	11.58
PMDDX	0.70	0.10	0.11	0.16	0.58	(0.75)	2.12	(1.32)	4.04
HSCVX	0.67	0.06	0.06	0.13	0.63	(0.84)	2.18	(1.40)	4.37
JAADX	0.55	0.12	0.14	0.27	0.43	(0.62)	1.30	(1.16)	2.54
MMSCX	0.95	0.24	0.18	3.81	0.69	(1.16)	1.92	(1.61)	10.44
NSCFX	0.94	0.17	0.18	0.22	0.73	(1.10)	2.64	(1.66)	10.41
SBHVX	1.15	0.26	0.25	0.26	0.69	(1.36)	2.64	(1.80)	15.28

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