Invesco Growth Correlations

Mutual Funds . USA . 
Fund . Invesco Growth Allocation
AADAX Fund  USD 15.22  0.07  0.46%   
The current 90-days correlation between Invesco Growth Allocation and Invesco Municipal Income is 0.3 (i.e., Weak diversification). The correlation of Invesco Growth 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 Growth Correlation With Market

Significant diversification

The correlation between Invesco Growth Allocation and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Growth Allocation and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Invesco Growth Allocation. 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 nation.

Moving together with Invesco Mutual Fund

  0.67VMICX Invesco Municipal IncomePairCorr
  0.68VMINX Invesco Municipal IncomePairCorr
  0.68VMIIX Invesco Municipal IncomePairCorr
  0.73OARDX Oppenheimer RisingPairCorr
  0.85AMHYX Invesco High YieldPairCorr
  0.88HYIFX Invesco High YieldPairCorr
  0.88HYINX Invesco High YieldPairCorr
  0.94ILAAX Invesco Income AllocationPairCorr
  0.89PXCCX Invesco Select RiskPairCorr
  0.89PXCIX Invesco Select RiskPairCorr
  1.0PXGGX Invesco Select RiskPairCorr
  0.74OTFCX Oppenheimer TargetPairCorr
  1.0PXMQX Invesco Select RiskPairCorr
  1.0PXMSX Invesco Select RiskPairCorr
  0.86DIGGX Invesco DiscoveryPairCorr
  1.0PXMMX Invesco Select RiskPairCorr
  1.0PXQIX Invesco Select RiskPairCorr
  0.67OCACX Oppenheimer Roc CaPairCorr
  1.0OCAIX Oppenheimer AggrssvPairCorr
  0.88OCCIX Oppenheimer CnsrvtvPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Growth 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 Growth'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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.20 (0.04) 0.00 (0.65) 0.00 
 0.00 
 0.34 
(0.50)
 1.68 
VMINX  0.18 (0.04) 0.00 (0.86) 0.00 
 0.00 
 0.34 
(0.49)
 1.59 
VMIIX  0.20 (0.04) 0.00 (0.68) 0.00 
 0.00 
 0.33 
(0.49)
 1.59 
OARDX  0.65 (0.14) 0.00 (0.62) 0.00 
 0.00 
 0.89 
(0.93)
 12.98 
AMHYX  0.11 (0.02) 0.00 (0.73) 0.00 
 0.00 
 0.28 
(0.28)
 0.56 
OSICX  0.21 (0.06) 0.00 (1.10) 0.00 
 0.00 
 0.33 
(0.64)
 1.94 
OSMAX  0.69 (0.33) 0.00 (1.51) 0.00 
 0.00 
 0.91 
(1.25)
 11.88 
OSMCX  0.70 (0.34) 0.00 (1.56) 0.00 
 0.00 
 0.90 
(1.22)
 12.41 
HYIFX  0.13 (0.02) 0.00 (0.53) 0.00 
 0.00 
 0.28 
(0.28)
 0.84 
HYINX  0.11 (0.02) 0.00 (0.71) 0.00 
 0.00 
 0.28 
(0.28)
 0.84 

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