Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXMMX Fund  USD 12.31  0.13  1.07%   
The current 90-days correlation between Invesco Select Risk and Ab Small Cap is 0.52 (i.e., Very weak 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

Poor diversification

The correlation between Invesco Select Risk 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 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 board of governors.

Moving together with Invesco Mutual Fund

  0.88OARDX Oppenheimer RisingPairCorr
  0.89AMHYX Invesco High YieldPairCorr
  0.84OSICX Oppenheimer StrategicPairCorr
  0.86OSMAX Oppenheimer InternationalPairCorr
  0.86OSMCX Oppenheimer InternationalPairCorr
  0.9HYIFX Invesco High YieldPairCorr
  0.9HYINX Invesco High YieldPairCorr
  0.96ILAAX Invesco Income AllocationPairCorr
  0.96PXCCX Invesco Select RiskPairCorr
  0.92BRCRX Invesco Balanced RiskPairCorr
  0.91BRCNX Invesco Balanced RiskPairCorr
  0.96PXCIX Invesco Select RiskPairCorr
  0.92BRCCX Invesco Balanced RiskPairCorr
  0.89BRCAX Invesco Balanced RiskPairCorr
  0.91BRCYX Invesco Balanced RiskPairCorr
  1.0PXGGX Invesco Select RiskPairCorr
  0.9OTFCX Oppenheimer TargetPairCorr
  0.85EMLDX Invesco Emerging MarketsPairCorr
  1.0PXMQX Invesco Select RiskPairCorr
  0.97PXMSX Invesco Select RiskPairCorr
  0.97DIGGX Invesco DiscoveryPairCorr
  1.0PXQIX Invesco Select RiskPairCorr
  0.99OCAIX Oppenheimer AggrssvPairCorr
  0.94OCCIX Oppenheimer CnsrvtvPairCorr
  0.87STBAX Invesco Short TermPairCorr
  0.87STBCX Invesco Short TermPairCorr
  0.64MLPRX Oppenheimer Steelpath MlpPairCorr
  0.88STBYX Invesco Short TermPairCorr
  0.86STBRX Invesco Short TermPairCorr
  0.63MLPDX Oppenheimer Steelpath MlpPairCorr
  0.65MLPAX Oppenheimer Steelpath MlpPairCorr
  0.65MLPGX Oppenheimer Steelpath MlpPairCorr
  0.68MLPFX Oppenheimer Steelpath MlpPairCorr
  0.67MLPEX Steelpath SelectPairCorr
  0.64MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.73INGFX Invesco OppenheimerPairCorr

Related Correlations Analysis


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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