Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXCCX Fund  USD 8.58  0.03  0.35%   
The current 90-days correlation between Invesco Select Risk and World Energy Fund is 0.26 (i.e., Modest diversification). The correlation of Invesco Select 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 Select Correlation With Market

Weak diversification

The correlation between Invesco Select Risk and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Select Risk and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Select Risk. 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 main economic indicators.

Moving together with Invesco Mutual Fund

  0.82VMICX Invesco Municipal IncomePairCorr
  0.82VMINX Invesco Municipal IncomePairCorr
  0.82VMIIX Invesco Municipal IncomePairCorr
  0.72AMHYX Invesco High YieldPairCorr
  0.72HYIFX Invesco High YieldPairCorr
  0.64HYINX Invesco High YieldPairCorr
  0.95ILAAX Invesco Income AllocationPairCorr
  1.0PXCIX Invesco Select RiskPairCorr
  0.87PXGGX Invesco Select RiskPairCorr
  0.86OTFCX Oppenheimer TargetPairCorr
  0.62EMLDX Invesco Emerging MarketsPairCorr
  0.91PXMQX Invesco Select RiskPairCorr
  0.91PXMSX Invesco Select RiskPairCorr
  0.75DIGGX Invesco DiscoveryPairCorr
  0.91PXMMX Invesco Select RiskPairCorr
  0.87PXQIX Invesco Select RiskPairCorr
  0.77OCACX Oppenheimer Roc CaPairCorr
  0.85OCAIX Oppenheimer AggrssvPairCorr
  0.99OCCIX Oppenheimer CnsrvtvPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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