Invesco Discovery Fund Market Value
| DIGGX Fund | USD 114.06 0.51 0.45% |
| Symbol | Invesco |
Invesco Discovery 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Invesco Discovery's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Invesco Discovery.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Invesco Discovery on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Discovery or generate 0.0% return on investment in Invesco Discovery over 180 days. Invesco Discovery is related to or competes with Tax-managed, Dana Large, Dodge Cox, Jhancock Disciplined, Transamerica Large, Large Cap, and T Rowe. The fund mainly invests in common stocks of U.S More
Invesco Discovery Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Invesco Discovery's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Invesco Discovery upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.37 | |||
| Information Ratio | 0.0583 | |||
| Maximum Drawdown | 6.88 | |||
| Value At Risk | (1.76) | |||
| Potential Upside | 2.12 |
Invesco Discovery Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Discovery's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Discovery's standard deviation. In reality, there are many statistical measures that can use Invesco Discovery historical prices to predict the future Invesco Discovery's volatility.| Risk Adjusted Performance | 0.127 | |||
| Jensen Alpha | 0.0163 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0571 | |||
| Treynor Ratio | 0.1385 |
Invesco Discovery Backtested Returns
Invesco Discovery appears to be very steady, given 3 months investment horizon. Invesco Discovery holds Efficiency (Sharpe) Ratio of 0.22, which attests that the entity had a 0.22% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Invesco Discovery, which you can use to evaluate the volatility of the entity. Please utilize Invesco Discovery's Downside Deviation of 1.37, risk adjusted performance of 0.127, and Market Risk Adjusted Performance of 0.1485 to validate if our risk estimates are consistent with your expectations. The fund retains a Market Volatility (i.e., Beta) of 1.49, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Invesco Discovery will likely underperform.
Auto-correlation | 0.60 |
Good predictability
Invesco Discovery has good predictability. Overlapping area represents the amount of predictability between Invesco Discovery time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 2024 to 1st of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Invesco Discovery price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current Invesco Discovery price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 28.09 |
Invesco Discovery lagged returns against current returns
Autocorrelation, which is Invesco Discovery mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Invesco Discovery's mutual fund expected returns. We can calculate the autocorrelation of Invesco Discovery returns to help us make a trade decision. For example, suppose you find that Invesco Discovery has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Invesco Discovery regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Invesco Discovery mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Discovery mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Discovery mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Invesco Discovery Lagged Returns
When evaluating Invesco Discovery's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Discovery mutual fund have on its future price. Invesco Discovery autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Invesco Discovery autocorrelation shows the relationship between Invesco Discovery mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Invesco Discovery.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Invesco Mutual Fund
Invesco Discovery financial ratios help investors to determine whether Invesco Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Invesco with respect to the benefits of owning Invesco Discovery security.
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