Invesco Select Correlations

Mutual Funds . USA . 
Fund . Invesco Select Risk
PXMQX Fund  USD 11.84  0.05  0.42%   
The current 90-days correlation between Invesco Select Risk and Small Cap Stock is 0.89 (i.e., Very poor 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

Good diversification

The correlation between Invesco Select Risk and DJI is -0.1 (i.e., 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 producer price index.

Moving together with Invesco Mutual Fund

  0.99OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.9OSICX Oppenheimer StrategicPairCorr
  0.99OSMAX Oppenheimer InternationalPairCorr
  0.98OSMCX Oppenheimer InternationalPairCorr
  0.98HYIFX Invesco High YieldPairCorr
  0.97HYINX Invesco High YieldPairCorr
  0.98ILAAX Invesco Income AllocationPairCorr
  0.99PXCCX Invesco Select RiskPairCorr
  0.67BRCRX Invesco Balanced RiskPairCorr
  0.68BRCNX Invesco Balanced RiskPairCorr
  0.99PXCIX Invesco Select RiskPairCorr
  0.66BRCCX Invesco Balanced RiskPairCorr
  0.68BRCAX Invesco Balanced RiskPairCorr
  0.69BRCYX Invesco Balanced RiskPairCorr
  0.99PXGGX Invesco Select RiskPairCorr
  0.99OTFCX Oppenheimer TargetPairCorr
  0.93EMLDX Invesco Emerging MarketsPairCorr
  1.0PXMSX Invesco Select RiskPairCorr
  1.0DIGGX Invesco DiscoveryPairCorr
  1.0PXMMX Invesco Select RiskPairCorr
  1.0PXQIX Invesco Select RiskPairCorr
  0.99OCAIX Oppenheimer AggrssvPairCorr
  0.97OCCIX Oppenheimer CnsrvtvPairCorr
  0.91STBAX Invesco Short TermPairCorr
  0.9STBCX Invesco Short TermPairCorr
  0.79MLPRX Oppenheimer Steelpath MlpPairCorr
  0.9STBYX Invesco Short TermPairCorr
  0.9STBRX Invesco Short TermPairCorr
  0.75MLPDX Oppenheimer Steelpath MlpPairCorr
  0.79MLPAX Oppenheimer Steelpath MlpPairCorr
  0.74MLPGX Oppenheimer Steelpath MlpPairCorr
  0.8MLPFX Oppenheimer Steelpath MlpPairCorr
  0.83MLPEX Steelpath SelectPairCorr
  0.65MLPMX 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 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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