Invesco Technology Correlations

ITYAX Fund  USD 65.64  1.17  1.75%   
The current 90-days correlation between Invesco Technology and Lord Abbett Health is 0.52 (i.e., Very weak 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

Good diversification

The correlation between Invesco Technology Fund and DJI is -0.16 (i.e., Good 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

  0.67VVPR VivoPower InternationalPairCorr
  0.89FARO FARO TechnologiesPairCorr
  0.94DBD Diebold Nixdorf,PairCorr
  0.8GENVR Gen Digital ContingentPairCorr
  0.74BULLW Webull Warrants TrendingPairCorr
  0.64MIND Mind TechnologyPairCorr
  0.9HPE-PC Hewlett Packard EntePairCorr
  0.78AVPTW AvePointPairCorr
  0.64DAICW CID HoldCo, WarrantsPairCorr
  0.9CORZZ Core Scientific, TranchePairCorr
  0.68RZLVW Rezolve AI LimitedPairCorr
  0.86SATX SatixFy CommunicationsPairCorr

Moving against Invesco Mutual Fund

  0.86VSTE Vast RenewablesPairCorr
  0.77VISL Vislink Technologies Tech BoostPairCorr
  0.64APCXW AppTech Payments CorpPairCorr
  0.58EXOD Exodus Movement,PairCorr
  0.43DVLT Datavault AI Symbol ChangePairCorr
  0.31BULLZ Webull IncentivePairCorr
  0.9SMTK SmartKem, Common StockPairCorr
  0.84NOVA Sunnova Energy InterPairCorr
  0.83HPAIW Helport AI LimitedPairCorr
  0.72APCX Apptech CorpPairCorr
  0.51ODYS Odysightai Common StockPairCorr
  0.42AXIL AXIL Brands, TrendingPairCorr
  0.36VMICX Invesco Municipal IncomePairCorr
  0.33SLNHP Soluna Holdings PreferredPairCorr

Related Correlations Analysis

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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.