Invesco Technology Correlations

ITYAX Fund

USD 66.85 0.07 0.10%

The current 90-days correlation between Invesco Technology and Yuanbao American Depositary is -0.02 (i.e., Good diversification). The correlation of Invesco Technology 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 Technology Correlation With Market

Significant diversification

The correlation between Invesco Technology Fund and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco Technology Fund 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 Technology Fund. 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

0.68	VVPR	VivoPower International Tech Boost	Pair Corr
0.94	DBD	Diebold Nixdorf,	Pair Corr
0.67	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.77	BULLW	Webull Warrants Trending	Pair Corr
0.71	MIND	Mind Technology	Pair Corr
0.91	HPE-PC	Hewlett Packard Ente	Pair Corr
0.91	CORZZ	Core Scientific, Tranche	Pair Corr
0.71	RZLVW	Rezolve AI Limited	Pair Corr
0.84	SATX	SatixFy Communications	Pair Corr
0.9	STRF	MicroStrategy Incorporated	Pair Corr

Moving against Invesco Mutual Fund

0.86	VSTE	Vast Renewables	Pair Corr
0.86	HPAIW	Helport AI Limited	Pair Corr
0.8	VISL	Vislink Technologies	Pair Corr
0.66	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.63	APCXW	AppTech Payments Corp	Pair Corr
0.37	VBIX	Viewbix Common Stock	Pair Corr
0.35	DVLT	Datavault AI Symbol Change	Pair Corr
0.92	SMTK	SmartKem, Common Stock	Pair Corr
0.83	NOVA	Sunnova Energy Inter	Pair Corr
0.73	APCX	Apptech Corp	Pair Corr
0.51	ODYS	Odysightai Common Stock	Pair Corr
0.44	AXIL	AXIL Brands, Trending	Pair Corr
0.43	SLNHP	Soluna Holdings Preferred	Pair Corr

Related Correlations Analysis

	YB	VBIX	DVLT	VVPR	EXOD	VMICX	VMINX	VMIIX	OARDX	AMHYX
YB		-0.17	-0.54	-0.19	-0.04	-0.53	-0.52	-0.52	0.08	0.1	YB
VBIX	-0.17		0.32	0.08	0.27	-0.04	-0.12	-0.09	-0.34	-0.43	VBIX
DVLT	-0.54	0.32		0.0	0.03	0.35	0.28	0.29	-0.35	-0.4	DVLT
VVPR	-0.19	0.08	0.0		-0.44	-0.28	-0.08	-0.19	0.69	0.64	VVPR
EXOD	-0.04	0.27	0.03	-0.44		0.3	0.12	0.21	-0.59	-0.61	EXOD
VMICX	-0.53	-0.04	0.35	-0.28	0.3		0.85	0.99	-0.19	-0.17	VMICX
VMINX	-0.52	-0.12	0.28	-0.08	0.12	0.85		0.87	0.09	0.12	VMINX
VMIIX	-0.52	-0.09	0.29	-0.19	0.21	0.99	0.87		-0.05	-0.03	VMIIX
OARDX	0.08	-0.34	-0.35	0.69	-0.59	-0.19	0.09	-0.05		0.98	OARDX
AMHYX	0.1	-0.43	-0.4	0.64	-0.61	-0.17	0.12	-0.03	0.98		AMHYX
	YB	VBIX	DVLT	VVPR	EXOD	VMICX	VMINX	VMIIX	OARDX	AMHYX

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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	+ 0.99	VMICX
AMHYX	+ 0.98	OARDX
VMIIX	+ 0.87	VMINX
VMINX	+ 0.85	VMICX
OARDX	+ 0.69	VVPR
AMHYX	+ 0.64	VVPR

High negative correlations

AMHYX	- 0.61	EXOD
OARDX	- 0.59	EXOD
DVLT	- 0.54	YB
VMICX	- 0.53	YB
VMIIX	- 0.52	YB
VMINX	- 0.52	YB

Risk-Adjusted Indicators

There is a big difference between Invesco Mutual Fund performing well and Invesco Technology 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 Technology'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
YB	3.76	1.07	0.27	4.66	3.01	(4.85)	14.01	(6.02)	27.13
VBIX	7.96	(0.07)	0.00	0.09	12.24	(8.38)	14.34	(20.18)	88.20
DVLT	5.15	(0.01)	0.00	0.12	5.83	(6.44)	12.33	(9.89)	33.36
VVPR	7.94	1.85	0.18	(19.07)	8.43	(9.98)	22.54	(11.48)	62.08
EXOD	6.56	0.03	0.00	0.18	8.48	(6.66)	16.85	(10.55)	43.33
VMICX	0.21	(0.04)	0.00	(0.43)	0.00	0.00	0.44	(0.45)	1.32
VMINX	0.21	0.00	(0.42)	0.24	0.26	(0.28)	0.53	(0.44)	1.68
VMIIX	0.21	(0.04)	0.00	(0.38)	0.00	0.00	0.53	(0.44)	1.41
OARDX	0.60	0.23	0.11	(3.47)	0.44	(0.73)	1.79	(1.21)	4.09
AMHYX	0.18	0.08	(0.18)	(2.16)	0.00	(0.38)	0.58	(0.29)	1.13

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