Invesco Growth Correlations

Mutual Funds USA . 
Fund . Invesco Growth And
ACGKX Fund  USD 22.21  0.02  0.09%   
The current 90-days correlation between Invesco Growth And and Lord Abbett Convertible is 0.75 (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

Almost no diversification

The correlation between Invesco Growth And and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Growth And 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 And. 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 industry.

Moving together with Invesco Mutual Fund

  0.99OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.9OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.97OSMCX Oppenheimer InternationalPairCorr
  0.99HYINX Invesco High YieldPairCorr
  0.99ILAAX Invesco Income AllocationPairCorr
  0.98PXCCX Invesco Select RiskPairCorr
  0.98PXCIX Invesco Select RiskPairCorr
  0.72BRCYX Invesco Balanced RiskPairCorr
  0.99OTFCX Oppenheimer TargetPairCorr
  0.93EMLDX Invesco Emerging MarketsPairCorr
  0.99PXMQX Invesco Select RiskPairCorr
  0.99DIGGX Invesco DiscoveryPairCorr
  0.99PXMMX Invesco Select RiskPairCorr
  0.99OCAIX Oppenheimer AggrssvPairCorr
  0.98OCCIX Oppenheimer CnsrvtvPairCorr
  0.9STBCX Invesco Short TermPairCorr
  0.77MLPRX Oppenheimer Steelpath MlpPairCorr
  0.91STBYX Invesco Short TermPairCorr
  0.77MLPDX Oppenheimer Steelpath MlpPairCorr
  0.78MLPAX Oppenheimer Steelpath MlpPairCorr
  0.77MLPGX Oppenheimer Steelpath MlpPairCorr
  0.81MLPFX Oppenheimer Steelpath MlpPairCorr
  0.8MLPEX Steelpath SelectPairCorr
  0.69MLPMX Oppenheimer Steelpath MlpPairCorr
  0.7MLPLX Oppenheimer Steelpath MlpPairCorr
  0.99OCMIX Oppenheimer ModeratePairCorr
  0.99OCRDX Oppenheimer RisingPairCorr
  0.99SCAUX Invesco Low VolatilityPairCorr
  0.99SCCUX Invesco Low VolatilityPairCorr
  0.85INBQX Aim Investment FundsPairCorr
  0.99SCIUX Invesco Low VolatilityPairCorr
  0.95INGFX Invesco OppenheimerPairCorr
  1.0FSIUX Invesco Dividend IncomePairCorr
  0.99ODIIX Oppenheimer DiscoveryPairCorr

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   
VAADX
+ 1.0
LCFYX
NCIDX
+ 1.0
LCFYX
NCIDX
+ 1.0
VAADX
VAADX
+ 0.98
XAVKX
NCIDX
+ 0.98
XAVKX
XAVKX
+ 0.97
LCFYX
  
High negative correlations   
CCD
- 0.2
LCFYX
CCD
- 0.19
VAADX
CCD
- 0.17
NCIDX
CCD
- 0.09
XAVKX

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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