Invesco Nasdaq Correlations

Mutual Funds . USA . 
Fund . Invesco Nasdaq 100
IVNQX Fund  USD 47.50  0.03  0.06%   
The current 90-days correlation between Invesco Nasdaq 100 and Wells Fargo Diversified is 0.09 (i.e., Significant diversification). The correlation of Invesco Nasdaq 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 Nasdaq Correlation With Market

Significant diversification

The correlation between Invesco Nasdaq 100 and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Nasdaq 100 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 Nasdaq 100. 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 producer price index.

Moving together with Invesco Mutual Fund

  0.78OARDX Oppenheimer RisingPairCorr
  0.83AMHYX Invesco High YieldPairCorr
  0.61OSICX Oppenheimer StrategicPairCorr
  0.69OSMAX Oppenheimer InternationalPairCorr
  0.85OSMCX Oppenheimer InternationalPairCorr
  0.83HYIFX Invesco High YieldPairCorr
  0.84HYINX Invesco High YieldPairCorr
  0.97ILAAX Invesco Income AllocationPairCorr
  0.84PXCCX Invesco Select RiskPairCorr
  0.64BRCRX Invesco Balanced RiskPairCorr
  0.72PXCIX Invesco Select RiskPairCorr
  0.62BRCCX Invesco Balanced RiskPairCorr
  0.99PXGGX Invesco Select RiskPairCorr
  0.85OTFCX Oppenheimer TargetPairCorr
  0.78EMLDX Invesco Emerging MarketsPairCorr
  0.85PXMQX Invesco Select RiskPairCorr
  0.86PXMSX Invesco Select RiskPairCorr
  0.84DIGGX Invesco DiscoveryPairCorr
  0.86PXMMX Invesco Select RiskPairCorr
  0.72PXQIX Invesco Select RiskPairCorr
  0.99OCAIX Oppenheimer AggrssvPairCorr
  0.83OCCIX Oppenheimer CnsrvtvPairCorr
  0.74STBAX Invesco Short TermPairCorr
  0.72STBCX Invesco Short TermPairCorr
  0.74STBYX Invesco Short TermPairCorr
  0.86STBRX Invesco Short TermPairCorr
  0.65MLPDX Oppenheimer Steelpath MlpPairCorr
  0.67MLPGX Oppenheimer Steelpath MlpPairCorr
  0.69MLPFX Oppenheimer Steelpath MlpPairCorr
  0.7MLPEX Steelpath SelectPairCorr

Moving against Invesco Mutual Fund

  0.34OCACX Oppenheimer Roc CaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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