Invesco Disciplined Correlations

Mutual Funds . USA . 
Fund . Invesco Disciplined Equity
AWEIX Fund  USD 30.63  0.28  0.91%   
The current 90-days correlation between Invesco Disciplined and At Mid Cap is 0.7 (i.e., Poor diversification). The correlation of Invesco Disciplined 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 Disciplined Correlation With Market

Poor diversification

The correlation between Invesco Disciplined Equity and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Disciplined Equity 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 Disciplined Equity. 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 gross domestic product.

Moving together with Invesco Mutual Fund

  0.69AWGIX Cibc Atlas AllPairCorr
  0.76AWIIX At Income OpportunitiesPairCorr
  0.75AWMIX At Mid CapPairCorr
  0.72AWYIX At Equity IncomePairCorr
  0.84VTSAX Vanguard Total StockPairCorr
  0.83VFIAX Vanguard 500 IndexPairCorr
  0.84VTSMX Vanguard Total StockPairCorr
  0.88VITSX Vanguard Total StockPairCorr
  0.88VSMPX Vanguard Total StockPairCorr
  0.88VSTSX Vanguard Total StockPairCorr
  0.83VFINX Vanguard 500 IndexPairCorr
  0.87VFFSX Vanguard 500 IndexPairCorr
  0.71VINIX Vanguard InstitutionalPairCorr
  0.69VIIIX Vanguard InstitutionalPairCorr

Moving against Invesco Mutual Fund

  0.39PFN Pimco Income StrategyPairCorr
  0.42EGRAX Eaton Vance GlobalPairCorr
  0.39FSGIX Federated Gov SecPairCorr
  0.31PHYQX Prudential High YieldPairCorr
  0.45TCHTX Cleartrack 2020 ClassPairCorr
  0.42RYWBX Weakening DollarPairCorr

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   
JMUEX
+ 0.97
AWMIX
AWIIX
+ 0.79
AWMIX
JMUEX
+ 0.78
AWIIX
ATMP
+ 0.42
AWIIX
JMUEX
+ 0.34
ATMP
ATMP
+ 0.33
AWMIX
  
High negative correlations   
MIPTX
- 0.26
AWMIX
JMUEX
- 0.18
MIPTX

Risk-Adjusted Indicators

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