Invesco High Correlations

AHHYX Fund  USD 3.54  0.01  0.28%   
The current 90-days correlation between Invesco High Yield and Ep Emerging Markets is 0.1 (i.e., Average diversification). The correlation of Invesco High 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 High Correlation With Market

Good diversification

The correlation between Invesco High Yield and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco High Yield 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 High Yield. 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 manufacturing.

Moving together with Invesco Mutual Fund

  0.76VMICX Invesco Municipal IncomePairCorr
  0.79VMINX Invesco Municipal IncomePairCorr
  0.81VMIIX Invesco Municipal IncomePairCorr
  0.91AMHYX Invesco High YieldPairCorr
  0.85OSICX Oppenheimer StrategicPairCorr
  0.75OSMAX Oppenheimer InternationalPairCorr
  0.74OSMCX Oppenheimer InternationalPairCorr
  0.92HYIFX Invesco High YieldPairCorr
  0.99HYINX Invesco High YieldPairCorr
  0.85ILAAX Invesco Income AllocationPairCorr
  0.89PXCCX Invesco Select RiskPairCorr
  0.64BRCRX Invesco Balanced RiskPairCorr
  0.64BRCNX Invesco Balanced RiskPairCorr
  0.83PXCIX Invesco Select RiskPairCorr
  0.63BRCCX Invesco Balanced RiskPairCorr
  0.62BRCAX Invesco Balanced RiskPairCorr
  0.64BRCYX Invesco Balanced RiskPairCorr
  0.77EMLDX Invesco Emerging Markets Potential GrowthPairCorr
  0.61OCACX Oppenheimer Roc CaPairCorr
  0.86OCCIX Oppenheimer CnsrvtvPairCorr
  0.75STBAX Invesco Short TermPairCorr
  0.75STBCX Invesco Short TermPairCorr
  0.62MLPRX Oppenheimer Steelpath MlpPairCorr
  0.76STBYX Invesco Short TermPairCorr
  0.76STBRX Invesco Short TermPairCorr
  0.62MLPDX Oppenheimer Steelpath MlpPairCorr

Moving against Invesco Mutual Fund

  0.31DIGGX Invesco DiscoveryPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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