Invesco Multi-asset Correlations

Mutual Funds . USA . 
Fund . Invesco Multi Asset Income
PIFFX Fund  USD 7.73  0.01  0.13%   
The current 90-days correlation between Invesco Multi Asset and Morningstar Defensive Bond is -0.11 (i.e., Good 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

Almost no diversification

The correlation between Invesco Multi Asset Income and DJI is 0.95 (i.e., Almost no 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

  0.78VMICX Invesco Municipal IncomePairCorr
  0.78VMINX Invesco Municipal IncomePairCorr
  0.77VMIIX Invesco Municipal IncomePairCorr
  0.94OARDX Oppenheimer RisingPairCorr
  0.89AMHYX Invesco High YieldPairCorr
  0.61OSMAX Oppenheimer InternationalPairCorr
  0.63OSMCX Oppenheimer InternationalPairCorr
  0.95HYIFX Invesco High YieldPairCorr
  0.95HYINX Invesco High YieldPairCorr
  1.0ILAAX Invesco Income AllocationPairCorr
  0.94PXCCX Invesco Select RiskPairCorr
  0.79BRCRX Invesco Balanced RiskPairCorr
  0.79BRCNX Invesco Balanced RiskPairCorr
  0.82PXCIX Invesco Select RiskPairCorr
  0.8BRCCX Invesco Balanced RiskPairCorr
  0.79BRCAX Invesco Balanced RiskPairCorr
  0.79BRCYX Invesco Balanced RiskPairCorr
  0.92PXGGX Invesco Select RiskPairCorr
  0.81OTFCX Oppenheimer TargetPairCorr
  0.95PXMQX Invesco Select RiskPairCorr
  0.95PXMSX Invesco Select RiskPairCorr
  0.78DIGGX Invesco DiscoveryPairCorr
  0.95PXMMX Invesco Select RiskPairCorr
  0.92PXQIX Invesco Select RiskPairCorr
  0.78OCACX Oppenheimer Roc CaPairCorr
  0.92OCAIX Oppenheimer AggrssvPairCorr
  0.95OCCIX Oppenheimer CnsrvtvPairCorr
  0.87MLPRX Oppenheimer Steelpath MlpPairCorr
  0.87MLPDX Oppenheimer Steelpath MlpPairCorr
  0.79MLPAX Oppenheimer Steelpath MlpPairCorr
  0.87MLPGX Oppenheimer Steelpath MlpPairCorr
  0.87MLPFX Oppenheimer Steelpath MlpPairCorr
  0.87MLPEX Steelpath SelectPairCorr
  0.86MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.38STBRX Invesco Short TermPairCorr
  0.36STBAX Invesco Short TermPairCorr
  0.36STBYX Invesco Short TermPairCorr
  0.35STBCX Invesco Short TermPairCorr

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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