Invesco Technology Correlations

Mutual Funds . USA . 
Fund . Invesco Technology Fund
ITYAX Fund  USD 66.16  0.52  0.79%   
The current 90-days correlation between Invesco Technology and Schwab Small Cap Index is -0.19 (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

Very good diversification

The correlation between Invesco Technology Fund and DJI is -0.21 (i.e., Very 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

  0.65VVPR VivoPower InternationalPairCorr
  0.88FARO FARO TechnologiesPairCorr
  0.94DBD Diebold Nixdorf,PairCorr
  0.89GENVR Gen Digital ContingentPairCorr
  0.74BULLW Webull Warrants Tech BoostPairCorr
  0.62MIND Mind TechnologyPairCorr
  0.9HPE-PC Hewlett Packard EntePairCorr
  0.77AVPTW AvePointPairCorr
  0.65DAICW CID HoldCo, WarrantsPairCorr
  0.89CORZZ Core Scientific, TranchePairCorr
  0.65RZLVW Rezolve AI LimitedPairCorr
  0.86SATX SatixFy CommunicationsPairCorr

Moving against Invesco Mutual Fund

  0.85VSTE Vast RenewablesPairCorr
  0.76VISL Vislink Technologies Tech BoostPairCorr
  0.63APCXW AppTech Payments CorpPairCorr
  0.58EXOD Exodus Movement,PairCorr
  0.44DVLT Datavault AI Symbol ChangePairCorr
  0.89SMTK SmartKem, Common StockPairCorr
  0.84HPAIW Helport AI LimitedPairCorr
  0.83NOVA Sunnova Energy InterPairCorr
  0.72APCX Apptech CorpPairCorr
  0.53ODYS Odysightai Common StockPairCorr
  0.39VMICX Invesco Municipal IncomePairCorr
  0.33AXIL AXIL Brands, TrendingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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