Invesco Senior Correlations

Funds . USA . 
Fund . Invesco Senior Income
VVR Fund  USD 3.70  0.06  1.60%   
The current 90-days correlation between Invesco Senior Income and Nuveen Floating Rate is 0.48 (i.e., Very weak diversification). The correlation of Invesco Senior 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 Senior Correlation With Market

Modest diversification

The correlation between Invesco Senior Income and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Senior Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Senior Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Invesco Fund

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  0.91LSIRX Clearbridge Mid CapPairCorr
  0.93GSPQX Goldman Sachs EquityPairCorr
  0.96SWCGX Schwab MarkettrackPairCorr
  0.95MHYIX Mainstay High YieldPairCorr
  0.95TEDTX Tiaa Cref EmergingPairCorr
  0.96DIMIX Dreyfus Short IntermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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