Invesco Diversified Correlations

DDFIX Fund  USD 19.30  0.14  0.73%   
The current 90-days correlation between Invesco Diversified and Angel Oak Financial is 0.12 (i.e., Average 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 0.96 (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

  0.98AMHYX Invesco High YieldPairCorr
  0.97ODVIX Oppenheimer DevelopingPairCorr
  0.99CHRRX Invesco CharterPairCorr
  0.99CHRSX Invesco CharterPairCorr
  0.98VAFFX Invesco American FraPairCorr
  0.88ACCHX Invesco Porate BondPairCorr
  0.95OIDAX Oppenheimer InternationalPairCorr
  0.66REINX Invesco Real EstatePairCorr
  0.98ITYYX Invesco TechnologyPairCorr
  0.69OLCCX Oppenheimer RocPairCorr
  0.86IEFCX Invesco EnergyPairCorr
  0.87IENIX Invesco EnergyPairCorr
  0.97PAAJX Invesco Active AllocationPairCorr
  0.98AHYCX Invesco High YieldPairCorr
  0.92IGFRX Invesco InternationalPairCorr
  0.92AIIYX Invesco InternationalPairCorr
  0.72OPIGX Oppenheimer Core BondPairCorr
  0.96OPOCX Oppenheimer DiscoveryPairCorr
  1.0VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.97AMFFX American MutualPairCorr
  0.99DODGX Dodge Stock FundPairCorr

Moving against Invesco Mutual Fund

  0.37OCACX Oppenheimer Roc CaPairCorr
  0.35VMICX Invesco Municipal IncomePairCorr

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   
FIKBXFIDAX
FIKBXVFAIX
FIDAXVFAIX
BTOVFAIX
PGFMXFIKBX
BTOFIKBX
  
High negative correlations   
PGFMXXFINX
FIKBXXFINX
VFAIXXFINX
FIDAXXFINX
BTOXFINX
GCGXXXFINX

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.