Invesco Floating Correlations

Mutual Funds . USA . 
Fund . Invesco Floating Rate
AFRAX Fund  USD 6.57  0.00  0.00%   
The current 90-days correlation between Invesco Floating Rate and Cref Inflation Linked Bond is 0.13 (i.e., Average diversification). The correlation of Invesco Floating 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 Floating Correlation With Market

Very weak diversification

The correlation between Invesco Floating Rate and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Floating Rate 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 Floating Rate. 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 nation.

Moving together with Invesco Mutual Fund

  0.98OARDX Oppenheimer RisingPairCorr
  0.99AMHYX Invesco High YieldPairCorr
  0.91OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.97OSMCX Oppenheimer InternationalPairCorr
  0.99HYIFX Invesco High YieldPairCorr
  0.99HYINX Invesco High YieldPairCorr
  0.97ILAAX Invesco Income AllocationPairCorr
  0.96PXCCX Invesco Select RiskPairCorr
  0.67BRCRX Invesco Balanced RiskPairCorr
  0.68BRCNX Invesco Balanced RiskPairCorr
  0.96PXCIX Invesco Select RiskPairCorr
  0.65BRCCX Invesco Balanced RiskPairCorr
  0.67BRCAX Invesco Balanced RiskPairCorr
  0.68BRCYX Invesco Balanced RiskPairCorr
  0.98PXGGX Invesco Select RiskPairCorr
  0.98OTFCX Oppenheimer TargetPairCorr
  0.94EMLDX Invesco Emerging MarketsPairCorr
  0.98PXMQX Invesco Select RiskPairCorr
  0.98PXMSX Invesco Select RiskPairCorr
  0.97DIGGX Invesco DiscoveryPairCorr
  0.98PXMMX Invesco Select RiskPairCorr
  0.98PXQIX Invesco Select RiskPairCorr
  0.98OCAIX Oppenheimer AggrssvPairCorr
  0.96OCCIX Oppenheimer CnsrvtvPairCorr
  0.93STBAX Invesco Short TermPairCorr
  0.91STBCX Invesco Short TermPairCorr
  0.71MLPRX Oppenheimer Steelpath MlpPairCorr
  0.92STBYX Invesco Short TermPairCorr
  0.92STBRX Invesco Short TermPairCorr
  0.71MLPDX Oppenheimer Steelpath MlpPairCorr
  0.72MLPAX Oppenheimer Steelpath MlpPairCorr
  0.72MLPGX Oppenheimer Steelpath MlpPairCorr
  0.77MLPFX Oppenheimer Steelpath MlpPairCorr
  0.75MLPEX Steelpath SelectPairCorr
  0.61MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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