Invesco Income Correlations

RLIAX Fund  USD 10.61  0.03  0.28%   
The current 90-days correlation between Invesco Income Allocation and Locorr Dynamic Equity is 0.7 (i.e., Poor 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

Weak diversification

The correlation between Invesco Income Allocation and DJI is 0.38 (i.e., Weak 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 Your Equity Center 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

  0.84VMICX Invesco Municipal IncomePairCorr
  0.83VMINX Invesco Municipal IncomePairCorr
  0.83VMIIX Invesco Municipal IncomePairCorr
  0.62OARDX Oppenheimer RisingPairCorr
  0.71AMHYX Invesco High YieldPairCorr
  0.71HYIFX Invesco High YieldPairCorr
  0.71HYINX Invesco High YieldPairCorr
  1.0ILAAX Invesco Income AllocationPairCorr
  0.95PXCCX Invesco Select RiskPairCorr
  0.95PXCIX Invesco Select RiskPairCorr
  0.91PXGGX Invesco Select RiskPairCorr
  0.91OTFCX Oppenheimer TargetPairCorr
  0.97PXMQX Invesco Select RiskPairCorr
  0.97PXMSX Invesco Select RiskPairCorr
  0.86DIGGX Invesco DiscoveryPairCorr
  0.97PXMMX Invesco Select RiskPairCorr
  0.91PXQIX Invesco Select RiskPairCorr
  0.81OCACX Oppenheimer Roc CaPairCorr
  0.89OCAIX Oppenheimer AggrssvPairCorr
  0.93OCCIX Oppenheimer CnsrvtvPairCorr

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   
PRNHXRTOUX
RHSIXRTOUX
RHSIXPRNHX
PRNHXLEQCX
VFFIXJAAPX
JAAPXLEQCX
  
High negative correlations   
RHSIXTIMXX
PRNHXTIMXX
TIMXXVFFIX
TIMXXRTOUX
TIMXXJAAPX
TIMXXLEQCX

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.