Invesco Multi-asset Correlations

Mutual Funds . USA . 
Fund . Invesco Multi Asset Income
PIAFX Fund  USD 7.94  0.01  0.13%   
The current 90-days correlation between Invesco Multi Asset and Tiaa Cref Real Estate is 0.36 (i.e., Weak diversification). The correlation of Invesco Multi-asset 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 Multi-asset Correlation With Market

Very good diversification

The correlation between Invesco Multi Asset Income and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Multi Asset Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Invesco Multi Asset Income. 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 census.

Moving together with Invesco Mutual Fund

  0.99OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.94OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.93OSMCX Oppenheimer InternationalPairCorr
  0.97HYIFX Invesco High YieldPairCorr
  0.98HYINX Invesco High YieldPairCorr
  0.96ILAAX Invesco Income AllocationPairCorr
  0.99PXCCX Invesco Select RiskPairCorr
  0.75BRCRX Invesco Balanced RiskPairCorr
  0.76BRCNX Invesco Balanced RiskPairCorr
  0.99PXCIX Invesco Select RiskPairCorr
  0.74BRCCX Invesco Balanced RiskPairCorr
  0.78BRCAX Invesco Balanced RiskPairCorr
  0.78BRCYX Invesco Balanced RiskPairCorr
  0.94PXGGX Invesco Select RiskPairCorr
  0.97OTFCX Oppenheimer TargetPairCorr
  0.95EMLDX Invesco Emerging MarketsPairCorr
  0.99PXMQX Invesco Select RiskPairCorr
  0.95PXMSX Invesco Select RiskPairCorr
  0.98DIGGX Invesco DiscoveryPairCorr
  0.99PXMMX Invesco Select RiskPairCorr
  0.99PXQIX Invesco Select RiskPairCorr
  0.94OCAIX Oppenheimer AggrssvPairCorr
  0.97OCCIX Oppenheimer CnsrvtvPairCorr
  0.9STBAX Invesco Short TermPairCorr
  0.9STBCX Invesco Short TermPairCorr
  0.8MLPRX Oppenheimer Steelpath MlpPairCorr
  0.89STBYX Invesco Short TermPairCorr
  0.92STBRX Invesco Short TermPairCorr
  0.73MLPDX Oppenheimer Steelpath MlpPairCorr
  0.79MLPAX Oppenheimer Steelpath MlpPairCorr
  0.77MLPGX Oppenheimer Steelpath MlpPairCorr
  0.82MLPFX Oppenheimer Steelpath MlpPairCorr
  0.86MLPEX Steelpath SelectPairCorr
  0.73MLPMX 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 Multi-asset 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 Multi-asset'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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