Invesco Diversified Correlations

Mutual Funds . USA . 
Fund . Invesco Diversified Dividend
LCEYX Fund  USD 18.26  0.02  0.11%   
The current 90-days correlation between Invesco Diversified and Rbc Emerging Markets is 0.01 (i.e., Significant diversification). The correlation of Invesco Diversified 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 Diversified Correlation With Market

Very poor diversification

The correlation between Invesco Diversified Dividend and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Diversified Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Invesco Diversified Dividend. 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

  0.87OARDX Oppenheimer RisingPairCorr
  0.66AMHYX Invesco High YieldPairCorr
  0.62HYINX Invesco High YieldPairCorr
  0.71ILAAX Invesco Income AllocationPairCorr
  0.65PXCCX Invesco Select RiskPairCorr
  0.63BRCRX Invesco Balanced RiskPairCorr
  0.63BRCAX Invesco Balanced RiskPairCorr
  0.62BRCYX Invesco Balanced RiskPairCorr
  0.69PXGGX Invesco Select RiskPairCorr
  0.94PXMQX Invesco Select RiskPairCorr
  0.94PXMSX Invesco Select RiskPairCorr
  0.86PXMMX Invesco Select RiskPairCorr
  0.82PXQIX Invesco Select RiskPairCorr
  0.88OCAIX Oppenheimer AggrssvPairCorr
  0.67OCCIX Oppenheimer CnsrvtvPairCorr
  0.7MLPRX Oppenheimer Steelpath MlpPairCorr
  0.7MLPDX Oppenheimer Steelpath MlpPairCorr
  0.73MLPAX Oppenheimer Steelpath MlpPairCorr
  0.71MLPFX Oppenheimer Steelpath MlpPairCorr
  0.68MLPEX Steelpath SelectPairCorr
  0.7MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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