Invesco Asia Correlations

Mutual Funds . USA . 
Fund . Invesco Asia Pacific
ASIYX Fund  USD 29.99  0.19  0.64%   
The current 90-days correlation between Invesco Asia Pacific and Pax High Yield is 0.14 (i.e., Average diversification). The correlation of Invesco Asia 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 Asia Correlation With Market

Very weak diversification

The correlation between Invesco Asia Pacific and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Asia Pacific 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 Asia Pacific. 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 manufacturing.

Moving together with Invesco Mutual Fund

  0.94OARDX Oppenheimer RisingPairCorr
  0.93AMHYX Invesco High YieldPairCorr
  0.81OSICX Oppenheimer StrategicPairCorr
  0.95OSMAX Oppenheimer InternationalPairCorr
  0.96OSMCX Oppenheimer InternationalPairCorr
  0.92HYIFX Invesco High YieldPairCorr
  0.93HYINX Invesco High YieldPairCorr
  0.93ILAAX Invesco Income AllocationPairCorr
  0.92PXCCX Invesco Select RiskPairCorr
  0.61BRCNX Invesco Balanced RiskPairCorr
  0.92PXCIX Invesco Select RiskPairCorr
  0.61BRCAX Invesco Balanced RiskPairCorr
  0.61BRCYX Invesco Balanced RiskPairCorr
  0.96PXGGX Invesco Select RiskPairCorr
  0.96OTFCX Oppenheimer TargetPairCorr
  0.85EMLDX Invesco Emerging MarketsPairCorr
  0.97PXMQX Invesco Select RiskPairCorr
  0.97PXMSX Invesco Select RiskPairCorr
  0.96DIGGX Invesco DiscoveryPairCorr
  0.96PXMMX Invesco Select RiskPairCorr
  0.96PXQIX Invesco Select RiskPairCorr
  0.97OCAIX Oppenheimer AggrssvPairCorr
  0.92OCCIX Oppenheimer CnsrvtvPairCorr
  0.83STBAX Invesco Short TermPairCorr
  0.83STBCX Invesco Short TermPairCorr
  0.72MLPRX Oppenheimer Steelpath MlpPairCorr
  0.81STBYX Invesco Short TermPairCorr
  0.84STBRX Invesco Short TermPairCorr
  0.71MLPDX Oppenheimer Steelpath MlpPairCorr
  0.67MLPAX Oppenheimer Steelpath MlpPairCorr
  0.64MLPGX Oppenheimer Steelpath MlpPairCorr
  0.76MLPFX Oppenheimer Steelpath MlpPairCorr
  0.75MLPEX Steelpath SelectPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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