Invesco Income Correlations

Mutual Funds USA . 
Fund . Invesco Income Allocation
ILAAX Fund  USD 10.81  0.02  0.19%   
The current 90-days correlation between Invesco Income Allocation and Cref Money Market is -0.01 (i.e., Good diversification). The correlation of Invesco Income 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 Income Correlation With Market

Very poor diversification

The correlation between Invesco Income Allocation and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Income Allocation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Income Allocation. 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

  0.97OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.94OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.98OSMCX Oppenheimer InternationalPairCorr
  0.98HYIFX Invesco High YieldPairCorr
  0.99HYINX Invesco High YieldPairCorr
  0.98PXCCX Invesco Select RiskPairCorr
  0.68BRCRX Invesco Balanced RiskPairCorr
  0.69BRCNX Invesco Balanced RiskPairCorr
  0.98PXCIX Invesco Select RiskPairCorr
  0.67BRCCX Invesco Balanced RiskPairCorr
  0.71BRCAX Invesco Balanced RiskPairCorr
  0.69BRCYX Invesco Balanced RiskPairCorr
  0.99PXGGX Invesco Select RiskPairCorr
  0.97OTFCX Oppenheimer TargetPairCorr
  0.95EMLDX Invesco Emerging MarketsPairCorr
  0.98PXMQX Invesco Select RiskPairCorr
  0.98PXMSX Invesco Select RiskPairCorr
  0.97DIGGX Invesco DiscoveryPairCorr
  0.98PXMMX Invesco Select RiskPairCorr
  0.97PXQIX Invesco Select RiskPairCorr
  0.98OCAIX Oppenheimer AggrssvPairCorr
  1.0OCCIX Oppenheimer CnsrvtvPairCorr
  0.93STBAX Invesco Short TermPairCorr
  0.92STBCX Invesco Short TermPairCorr
  0.74MLPRX Oppenheimer Steelpath MlpPairCorr
  0.94STBYX Invesco Short TermPairCorr
  0.93STBRX Invesco Short TermPairCorr
  0.74MLPDX Oppenheimer Steelpath MlpPairCorr
  0.77MLPAX Oppenheimer Steelpath MlpPairCorr
  0.76MLPGX Oppenheimer Steelpath MlpPairCorr
  0.81MLPFX Oppenheimer Steelpath MlpPairCorr
  0.79MLPEX Steelpath SelectPairCorr
  0.68MLPMX 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 Income 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 Income'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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