Invesco Diversified Correlations

Mutual Funds . USA . 
Fund . Invesco Diversified Dividend
DDFIX Fund  USD 19.02  0.03  0.16%   
The current 90-days correlation between Invesco Diversified and Franklin Growth Opportunities is 0.8 (i.e., Very poor diversification). The correlation of Invesco Diversified 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 Diversified Correlation With Market

Almost no diversification

The correlation between Invesco Diversified Dividend 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 Diversified Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Invesco Diversified Dividend. 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 gross domestic product.

Moving together with Invesco Mutual Fund

  0.98OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.89OSICX Oppenheimer StrategicPairCorr
  0.96OSMAX Oppenheimer InternationalPairCorr
  0.97OSMCX Oppenheimer InternationalPairCorr
  0.98HYINX Invesco High YieldPairCorr
  0.99ILAAX Invesco Income AllocationPairCorr
  0.97PXCCX Invesco Select RiskPairCorr
  0.97PXCIX Invesco Select RiskPairCorr
  0.68BRCYX Invesco Balanced RiskPairCorr
  0.97OTFCX Oppenheimer TargetPairCorr
  0.94EMLDX Invesco Emerging MarketsPairCorr
  0.99PXMQX Invesco Select RiskPairCorr
  0.97DIGGX Invesco DiscoveryPairCorr
  0.97PXMMX Invesco Select RiskPairCorr
  0.98OCAIX Oppenheimer AggrssvPairCorr
  0.98OCCIX Oppenheimer CnsrvtvPairCorr
  0.92STBCX Invesco Short TermPairCorr
  0.71MLPRX Oppenheimer Steelpath MlpPairCorr
  0.91STBYX Invesco Short TermPairCorr
  0.71MLPDX Oppenheimer Steelpath MlpPairCorr
  0.72MLPAX Oppenheimer Steelpath MlpPairCorr
  0.7MLPGX Oppenheimer Steelpath MlpPairCorr
  0.76MLPFX Oppenheimer Steelpath MlpPairCorr
  0.74MLPEX Steelpath SelectPairCorr
  0.62MLPMX Oppenheimer Steelpath MlpPairCorr
  0.64MLPLX Oppenheimer Steelpath MlpPairCorr
  0.98OCMIX Oppenheimer ModeratePairCorr
  0.98OCRDX Oppenheimer RisingPairCorr
  0.99SCAUX Invesco Low VolatilityPairCorr
  0.99SCCUX Invesco Low VolatilityPairCorr
  0.86INBQX Aim Investment FundsPairCorr
  0.99SCIUX Invesco Low VolatilityPairCorr
  0.95INGFX Invesco OppenheimerPairCorr
  1.0FSIUX Invesco Dividend IncomePairCorr
  0.98ODIIX Oppenheimer DiscoveryPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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