Invesco Technology Correlations

ITHCX Fund

USD 37.59 0.87 2.37%

The current 90-days correlation between Invesco Technology and Veea Inc is -0.27 (i.e., Very 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

Modest diversification

The correlation between Invesco Technology Fund and DJI is 0.21 (i.e., Modest 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 main economic indicators.

Moving together with Invesco Mutual Fund

0.67

EACO

Eaco Corp

Pair Corr

Moving against Invesco Mutual Fund

0.58	VEEA	Veea Inc Symbol Change	Pair Corr
0.42	WGNR	Wegener	Pair Corr
0.37	VIDE	Video Display	Pair Corr
0.35	EXOD	Exodus Movement,	Pair Corr
0.65	MIND	Mind Technology	Pair Corr
0.42	HPAIW	Helport AI Limited	Pair Corr

Related Correlations Analysis

	VEEA	VVPR	EXOD	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX
VEEA		-0.24	-0.22	0.06	0.03	-0.03	-0.32	-0.33	0.58	0.24	VEEA
VVPR	-0.24		0.72	-0.13	-0.1	-0.1	-0.52	0.02	-0.3	-0.73	VVPR
EXOD	-0.22	0.72		-0.43	-0.4	-0.47	-0.68	-0.1	-0.51	-0.88	EXOD
VMICX	0.06	-0.13	-0.43		1.0	0.92	0.53	0.75	0.64	0.6	VMICX
VMINX	0.03	-0.1	-0.4	1.0		0.92	0.52	0.78	0.61	0.57	VMINX
VMIIX	-0.03	-0.1	-0.47	0.92	0.92		0.59	0.75	0.6	0.6	VMIIX
OARDX	-0.32	-0.52	-0.68	0.53	0.52	0.59		0.53	0.18	0.79	OARDX
AMHYX	-0.33	0.02	-0.1	0.75	0.78	0.75	0.53		0.24	0.29	AMHYX
OSICX	0.58	-0.3	-0.51	0.64	0.61	0.6	0.18	0.24		0.61	OSICX
OSMAX	0.24	-0.73	-0.88	0.6	0.57	0.6	0.79	0.29	0.61		OSMAX
	VEEA	VVPR	EXOD	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX

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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

VMINX	+ 1.0	VMICX
VMIIX	+ 0.92	VMICX
VMIIX	+ 0.92	VMINX
OSMAX	+ 0.79	OARDX
AMHYX	+ 0.78	VMINX
AMHYX	+ 0.75	VMICX

High negative correlations

OSMAX	- 0.88	EXOD
OSMAX	- 0.73	VVPR
OARDX	- 0.68	EXOD
OARDX	- 0.52	VVPR
OSICX	- 0.51	EXOD
VMIIX	- 0.47	EXOD

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
VEEA	5.40	(0.34)	0.00	0.15	0.00	0.00	9.54	(10.26)	31.60
VVPR	6.17	1.63	0.18	(2.64)	7.63	(8.14)	16.30	(9.64)	112.34
EXOD	7.13	1.71	0.17	(1.10)	7.03	(10.89)	21.55	(16.54)	56.37
VMICX	0.20	(0.03)	0.00	(2.43)	0.00	0.00	0.34	(0.50)	1.68
VMINX	0.19	(0.03)	0.00	(2.31)	0.00	0.00	0.34	(0.49)	1.59
VMIIX	0.20	(0.04)	0.00	(0.68)	0.00	0.00	0.33	(0.49)	1.59
OARDX	0.65	(0.14)	0.00	(0.62)	0.00	0.00	0.89	(0.93)	12.98
AMHYX	0.11	(0.02)	0.00	(3.19)	0.00	0.00	0.28	(0.28)	0.56
OSICX	0.21	(0.06)	0.00	(1.10)	0.00	0.00	0.33	(0.64)	1.94
OSMAX	0.69	(0.33)	0.00	(1.51)	0.00	0.00	0.91	(1.25)	11.88

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