Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXMQX Fund  USD 11.68  0.06  0.52%   
The current 90-days correlation between Invesco Select Risk and Ab Global Real is -0.13 (i.e., Good 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

Good diversification

The correlation between Invesco Select Risk and DJI is -0.02 (i.e., Good 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 producer price index.

Moving together with Invesco Mutual Fund

  0.87OARDX Oppenheimer RisingPairCorr
  0.78AMHYX Invesco High YieldPairCorr
  0.79HYIFX Invesco High YieldPairCorr
  0.8HYINX Invesco High YieldPairCorr
  0.79ILAAX Invesco Income AllocationPairCorr
  0.66BRCRX Invesco Balanced RiskPairCorr
  0.67BRCNX Invesco Balanced RiskPairCorr
  0.7BRCCX Invesco Balanced RiskPairCorr
  0.67BRCAX Invesco Balanced RiskPairCorr
  0.7BRCYX Invesco Balanced RiskPairCorr
  0.97PXGGX Invesco Select RiskPairCorr
  0.79OTFCX Oppenheimer TargetPairCorr
  1.0PXMSX Invesco Select RiskPairCorr
  0.84DIGGX Invesco DiscoveryPairCorr
  1.0PXMMX Invesco Select RiskPairCorr
  0.97PXQIX Invesco Select RiskPairCorr
  0.98OCAIX Oppenheimer AggrssvPairCorr
  0.72MLPRX Oppenheimer Steelpath MlpPairCorr
  0.72MLPDX Oppenheimer Steelpath MlpPairCorr
  0.63MLPAX Oppenheimer Steelpath MlpPairCorr
  0.66MLPGX Oppenheimer Steelpath MlpPairCorr
  0.73MLPFX Oppenheimer Steelpath MlpPairCorr
  0.7MLPEX Steelpath SelectPairCorr
  0.63MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
AEEIX
+ 0.92
ARECX
LFLCX
+ 0.88
DBLGX
LFLCX
+ 0.87
ARECX
LFLCX
+ 0.81
AEEIX
MGGNX
+ 0.78
AEEIX
DBLGX
+ 0.76
ARECX
  
High negative correlations   
DBLGX
- 0.36
WRLDX
LFLCX
- 0.02
WRLDX

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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