Invesco California Correlations

VCV Stock

USD 11.27 0.01 0.09%

The current 90-days correlation between Invesco California Value and Invesco Quality Municipal is 0.27 (i.e., Modest diversification). The correlation of Invesco California 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 California Correlation With Market

Very weak diversification

The correlation between Invesco California Value and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Invesco California Value and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Invesco Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Invesco California Value. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Invesco Stock

0.7	CSOC-A	Canso Select Opportu	Pair Corr
0.61	TRIN	Trinity Capital	Pair Corr
0.62	GE	GE Aerospace	Pair Corr

Moving against Invesco Stock

0.53	GSBD	Goldman Sachs BDC Earnings Call This Week	Pair Corr
0.52	MFIC	MidCap Financial Inv	Pair Corr
0.47	KBDC	Kayne Anderson BDC	Pair Corr
0.46	NMFC	New Mountain Finance	Pair Corr
0.34	AVR	Avaron Mining Corp Earnings Call Today	Pair Corr
0.45	MSFT	Microsoft	Pair Corr
0.44	SHPHF	Sihuan Pharmaceutical	Pair Corr
0.38	IBM	International Business	Pair Corr
0.36	NVNIW	Nvni Group Limited	Pair Corr
0.34	AXP	American Express	Pair Corr

Related Correlations Analysis

	IQI	VKQ	IIM	VGM	VVR	VKI	VMO	HRCVX	HIGJX	BLW
IQI		0.77	0.65	0.82	0.51	0.6	0.76	-0.51	0.64	0.51	IQI
VKQ	0.77		0.54	0.83	0.61	0.81	0.95	-0.65	0.81	0.56	VKQ
IIM	0.65	0.54		0.45	0.25	0.3	0.53	-0.21	0.27	0.1	IIM
VGM	0.82	0.83	0.45		0.4	0.83	0.77	-0.65	0.77	0.43	VGM
VVR	0.51	0.61	0.25	0.4		0.47	0.72	-0.66	0.74	0.8	VVR
VKI	0.6	0.81	0.3	0.83	0.47		0.78	-0.71	0.77	0.42	VKI
VMO	0.76	0.95	0.53	0.77	0.72	0.78		-0.69	0.82	0.6	VMO
HRCVX	-0.51	-0.65	-0.21	-0.65	-0.66	-0.71	-0.69		-0.92	-0.62	HRCVX
HIGJX	0.64	0.81	0.27	0.77	0.74	0.77	0.82	-0.92		0.73	HIGJX
BLW	0.51	0.56	0.1	0.43	0.8	0.42	0.6	-0.62	0.73		BLW
	IQI	VKQ	IIM	VGM	VVR	VKI	VMO	HRCVX	HIGJX	BLW

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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

VMO	+ 0.95	VKQ
VGM	+ 0.83	VKQ
VKI	+ 0.83	VGM
VGM	+ 0.82	IQI
HIGJX	+ 0.82	VMO
VKI	+ 0.81	VKQ

High negative correlations

HIGJX	- 0.92	HRCVX
HRCVX	- 0.71	VKI
HRCVX	- 0.69	VMO
HRCVX	- 0.66	VVR
HRCVX	- 0.65	VGM
HRCVX	- 0.65	VKQ

Risk-Adjusted Indicators

There is a big difference between Invesco Stock performing well and Invesco California Company 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 California'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
IQI	0.30	0.05	(0.14)	(1.06)	0.18	(0.38)	0.81	(0.40)	1.71
VKQ	0.33	0.04	(0.11)	0.63	0.24	(0.39)	0.75	(0.52)	1.57
IIM	0.41	0.03	(0.13)	(0.75)	0.40	(0.55)	0.97	(0.65)	4.42
VGM	0.35	0.07	(0.04)	(20.56)	0.35	(0.40)	0.79	(0.60)	2.24
VVR	0.39	0.00	(0.09)	0.11	0.42	(0.59)	0.93	(0.94)	2.76
VKI	0.42	0.07	(0.04)	(1.41)	0.40	(0.52)	1.01	(0.91)	2.55
VMO	0.32	0.06	(0.10)	9.60	0.18	(0.38)	0.73	(0.52)	1.36
HRCVX	0.80	(0.15)	0.00	(0.61)	0.00	0.00	1.06	(1.13)	16.71
HIGJX	0.88	0.39	0.45	0.68	0.00	(1.07)	1.17	(1.14)	23.59
BLW	0.27	0.01	(0.23)	0.18	0.27	(0.32)	0.45	(0.52)	1.33

Invesco California Corporate Management

Andrew Schlossberg	Senior Vice President	Profile
Anthony LaCava	Independent Trustee	Profile
Teresa Ressel	Independent Trustee	Profile
Tim OReilly	Portfolio Manager	Profile
Robert Troccoli	Independent Trustee	Profile

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