Invesco Growth Correlations

Mutual Funds . USA . 
Fund . Invesco Growth Allocation
AADCX Fund  USD 15.90  0.02  0.13%   
The current 90-days correlation between Invesco Growth Allocation and L Mason Qs is 0.74 (i.e., Poor diversification). The correlation of Invesco Growth 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 Growth Correlation With Market

Poor diversification

The correlation between Invesco Growth Allocation and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Growth Allocation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Growth Allocation. 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

  0.97HYIFX Invesco High YieldPairCorr
  0.97HYINX Invesco High YieldPairCorr
  0.98ILAAX Invesco Income AllocationPairCorr
  0.96PXCCX Invesco Select RiskPairCorr
  0.64BRCRX Invesco Balanced RiskPairCorr
  0.65BRCNX Invesco Balanced RiskPairCorr
  0.97PXCIX Invesco Select RiskPairCorr
  0.63BRCCX Invesco Balanced RiskPairCorr
  0.65BRCAX Invesco Balanced RiskPairCorr
  1.0PXGGX Invesco Select RiskPairCorr
  0.99OTFCX Oppenheimer TargetPairCorr
  0.85EMLDX Invesco Emerging MarketsPairCorr
  1.0PXMQX Invesco Select RiskPairCorr
  1.0PXMSX Invesco Select RiskPairCorr
  0.99DIGGX Invesco DiscoveryPairCorr
  1.0PXMMX Invesco Select RiskPairCorr
  1.0OCAIX Oppenheimer AggrssvPairCorr
  0.97OCCIX Oppenheimer CnsrvtvPairCorr
  0.86STBAX Invesco Short TermPairCorr
  0.77STBCX Invesco Short TermPairCorr
  0.86STBYX Invesco Short TermPairCorr
  0.85STBRX Invesco Short TermPairCorr
  0.62MLPDX Oppenheimer Steelpath MlpPairCorr
  0.65MLPGX Oppenheimer Steelpath MlpPairCorr
  0.72MLPFX Oppenheimer Steelpath MlpPairCorr
  0.68MLPEX Steelpath SelectPairCorr

Moving against Invesco Mutual Fund

  0.59VMICX Invesco Municipal IncomePairCorr
  0.53VMIIX Invesco Municipal IncomePairCorr
  0.44VMINX Invesco Municipal IncomePairCorr
  0.58OCACX Oppenheimer Roc CaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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