Invesco Municipal Correlations

Mutual Funds . USA . 
Fund . Invesco Municipal Income
VMINX Fund  USD 11.94  0.01  0.08%   
The current 90-days correlation between Invesco Municipal Income and World Energy Fund is 0.19 (i.e., Average diversification). The correlation of Invesco Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Invesco Municipal Income and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Municipal Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Municipal Income. 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

  1.0VMICX Invesco Municipal IncomePairCorr
  1.0VMIIX Invesco Municipal IncomePairCorr
  0.69OARDX Oppenheimer RisingPairCorr
  0.65AMHYX Invesco High YieldPairCorr
  0.67OSMAX Oppenheimer InternationalPairCorr
  0.67OSMCX Oppenheimer InternationalPairCorr
  0.71ILAAX Invesco Income AllocationPairCorr
  0.82PXCCX Invesco Select RiskPairCorr
  0.82PXCIX Invesco Select RiskPairCorr
  0.77PXGGX Invesco Select RiskPairCorr
  0.74OTFCX Oppenheimer TargetPairCorr
  0.66PXMQX Invesco Select RiskPairCorr
  0.67PXMSX Invesco Select RiskPairCorr
  0.71DIGGX Invesco DiscoveryPairCorr
  0.66PXMMX Invesco Select RiskPairCorr
  0.77PXQIX Invesco Select RiskPairCorr
  0.78OCACX Oppenheimer Roc CaPairCorr
  0.77OCAIX Oppenheimer AggrssvPairCorr
  0.84OCCIX Oppenheimer CnsrvtvPairCorr

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   
VENAX
+ 0.98
ENPSX
XEMOX
+ 0.95
ALEFX
VENAX
+ 0.91
FIKAX
ENPSX
+ 0.9
FIKAX
FIKAX
+ 0.83
AIWEX
ALEFX
+ 0.82
AIWEX
  
High negative correlations   
XEMOX
- 0.17
PYILX
ALEFX
- 0.1
PYILX

Risk-Adjusted Indicators

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