Invesco Income Correlations

ILAAX Fund

USD 10.78 0.06 0.56%

The current 90-days correlation between Invesco Income Allocation and Invesco Real Estate is 0.4 (i.e., Very weak diversification). The correlation of Invesco Income 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 Income Correlation With Market

Poor diversification

The correlation between Invesco Income Allocation and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Income Allocation and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Income 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

0.62	OARDX	Oppenheimer Rising	Pair Corr
0.74	AMHYX	Invesco High Yield	Pair Corr
0.76	HYIFX	Invesco High Yield	Pair Corr
0.76	HYINX	Invesco High Yield	Pair Corr
0.78	PXGGX	Invesco Select Risk	Pair Corr
0.9	PXMQX	Invesco Select Risk	Pair Corr
0.9	PXMSX	Invesco Select Risk	Pair Corr
0.66	DIGGX	Invesco Discovery	Pair Corr
0.9	PXMMX	Invesco Select Risk	Pair Corr
0.78	PXQIX	Invesco Select Risk	Pair Corr
0.79	OCAIX	Oppenheimer Aggrssv	Pair Corr

Related Correlations Analysis

	REINX	IBVIX	VMICX	VMIBX	VMINX	VMIIX	IBVYX	AMHYX	MSVCX
REINX		-0.13	0.59	0.0	0.54	0.54	-0.13	-0.01	0.03	REINX
IBVIX	-0.13		0.02	0.0	0.07	0.05	0.82	0.21	-0.03	IBVIX
VMICX	0.59	0.02		0.0	0.99	0.99	0.03	0.24	-0.01	VMICX
VMIBX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	VMIBX
VMINX	0.54	0.07	0.99	0.0		1.0	0.07	0.32	-0.03	VMINX
VMIIX	0.54	0.05	0.99	0.0	1.0		0.06	0.36	-0.03	VMIIX
IBVYX	-0.13	0.82	0.03	0.0	0.07	0.06		0.2	0.0	IBVYX
AMHYX	-0.01	0.21	0.24	0.0	0.32	0.36	0.2		0.03	AMHYX
MSVCX	0.03	-0.03	-0.01	0.0	-0.03	-0.03	0.0	0.03		MSVCX
	REINX	IBVIX	VMICX	VMIBX	VMINX	VMIIX	IBVYX	AMHYX	MSVCX

Click cells to compare fundamentals

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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

VMIIX	+ 1.0	VMINX
VMINX	+ 0.99	VMICX
VMIIX	+ 0.99	VMICX
IBVYX	+ 0.82	IBVIX
VMICX	+ 0.59	REINX
VMINX	+ 0.54	REINX

High negative correlations

IBVYX	- 0.13	REINX
IBVIX	- 0.13	REINX
MSVCX	- 0.03	VMIIX
MSVCX	- 0.03	VMINX
MSVCX	- 0.03	IBVIX
MSVCX	- 0.01	VMICX

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Income 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 Income'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
REINX	0.69	0.03	(0.09)	0.67	0.82	(0.72)	1.20	(1.21)	3.61
IBVIX	0.91	0.09	(0.02)	(0.36)	2.06	(0.99)	1.29	(1.39)	22.69
VMICX	0.16	0.02	(0.30)	(0.08)	0.22	(0.22)	0.33	(0.41)	1.59
VMIBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMINX	0.16	0.02	(0.25)	(0.09)	0.23	(0.20)	0.42	(0.33)	1.58
VMIIX	0.17	0.02	(0.25)	(0.11)	0.23	(0.21)	0.33	(0.41)	1.58
IBVYX	0.56	0.05	(0.06)	(3.08)	0.82	(0.62)	1.15	(1.32)	4.58
AMHYX	0.13	0.02	(0.31)	0.43	0.00	(0.32)	0.28	(0.28)	0.85
MSVCX	2.16	0.15	0.01	0.47	5.41	(2.39)	2.06	(2.04)	77.10

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