Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXGGX Fund  USD 14.72  0.12  0.82%   
The current 90-days correlation between Invesco Select Risk and Access Flex High is 0.65 (i.e., Poor 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

Modest diversification

The correlation between Invesco Select Risk and DJI is 0.24 (i.e., Modest 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 price.

Moving together with Invesco Mutual Fund

  0.78VMICX Invesco Municipal IncomePairCorr
  0.77VMINX Invesco Municipal IncomePairCorr
  0.75VMIIX Invesco Municipal IncomePairCorr
  0.77OARDX Oppenheimer RisingPairCorr
  0.7OSMAX Oppenheimer InternationalPairCorr
  0.69OSMCX Oppenheimer InternationalPairCorr
  0.8ILAAX Invesco Income AllocationPairCorr
  0.87PXCCX Invesco Select RiskPairCorr
  0.88PXCIX Invesco Select RiskPairCorr
  0.9OTFCX Oppenheimer TargetPairCorr
  0.69EMLDX Invesco Emerging MarketsPairCorr
  0.78PXMQX Invesco Select RiskPairCorr
  0.79PXMSX Invesco Select RiskPairCorr
  0.91DIGGX Invesco DiscoveryPairCorr
  0.78PXMMX Invesco Select RiskPairCorr
  1.0PXQIX Invesco Select RiskPairCorr
  0.76OCACX Oppenheimer Roc CaPairCorr
  1.0OCAIX Oppenheimer AggrssvPairCorr
  0.92OCCIX 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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