Invesco Municipal Correlations

Mutual Funds . USA . 
Fund . Invesco Municipal Income
VMIIX Fund  USD 11.79  0.03  0.25%   
The current 90-days correlation between Invesco Municipal Income and Angel Oak Ultrashort is 0.16 (i.e., Average diversification). The correlation of Invesco Municipal 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 Municipal Correlation With Market

Significant diversification

The correlation between Invesco Municipal Income and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Municipal Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco Municipal Income. 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

  0.99VMICX Invesco Municipal IncomePairCorr
  0.9VMINX Invesco Municipal IncomePairCorr
  0.81AMHYX Invesco High YieldPairCorr
  0.93OCACX Oppenheimer Roc CaPairCorr
  0.68PIFFX Invesco Multi AssetPairCorr
  0.97IOMUX Invesco EnvironmentalPairCorr
  0.99IORYX Aim Taxexempt FundsPairCorr
  0.78IARIX Invesco Real EstatePairCorr
  0.63VUSJX Invesco Quality IncomePairCorr
  0.78REINX Invesco Real EstatePairCorr
  0.8OLCAX Oppenheimer RochesterPairCorr
  0.98ONJAX Oppenheimer RochesterPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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