Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXMMX Fund  USD 11.88  0.04  0.34%   
The current 90-days correlation between Invesco Select Risk and Fbanjx is -0.29 (i.e., Very good diversification). The correlation of Invesco Select 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 Select Correlation With Market

Very good diversification

The correlation between Invesco Select Risk and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Select Risk 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 Select Risk. 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 population.

Moving together with Invesco Mutual Fund

  0.99FBONX American Funds AmericanPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.99ABALX American BalancedPairCorr
  0.85BALCX American BalancedPairCorr
  0.85BALFX American BalancedPairCorr
  0.99RLBCX American BalancedPairCorr
  0.99RLBBX American BalancedPairCorr
  0.99CLBAX American BalancedPairCorr
  0.99CLBEX American BalancedPairCorr
  0.99RLBFX American BalancedPairCorr
  0.65RYMEX Commodities StrategyPairCorr
  0.65RYMJX Commodities StrategyPairCorr
  0.66RYMBX Commodities StrategyPairCorr
  0.91BRUFX Bruce Fund BrucePairCorr
  0.99SPGSX State Street PremierPairCorr
  0.88KF Korea ClosedPairCorr
  0.86RRSVX Rbc Small CapPairCorr
  0.86HERSX Hartford Emerging MarketsPairCorr
  0.7AISTX Limited DurationPairCorr
  0.75BA BoeingPairCorr
  0.86CAT CaterpillarPairCorr
  0.81GE GE AerospacePairCorr
  0.86BAC Bank of AmericaPairCorr
  0.85CSCO Cisco SystemsPairCorr
  0.83PFE Pfizer IncPairCorr
  0.81JPM JPMorgan ChasePairCorr
  0.63HD Home DepotPairCorr
  0.7TRV The Travelers CompaniesPairCorr
  0.81AXP American ExpressPairCorr
  0.85MMM 3M CompanyPairCorr
  0.86AA Alcoa CorpPairCorr
  0.61CVX Chevron CorpPairCorr

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   
FLAKQX
+ 0.99
FBANJX
FFCGX
+ 0.99
FBANJX
FLKYPX
+ 0.99
FBANJX
FFCGX
+ 0.99
FLAKQX
FLKYPX
+ 0.99
FLAKQX
FLKYPX
+ 0.99
FFCGX
  
High negative correlations   
IEMSX
- 0.12
FDZBPX
FFCGX
- 0.1
IEMSX
FLKYPX
- 0.07
IEMSX
IEMSX
- 0.07
FBANJX
IEMSX
- 0.05
FLAKQX
WRLDX
- 0.03
IEMSX

Risk-Adjusted Indicators

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