Invesco Technology Fund Market Value
| ITYYX Fund | USD 73.65 0.24 0.32% |
| Symbol | Invesco |
Invesco Technology '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 Technology'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 Technology.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Invesco Technology on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Invesco Technology Fund or generate 0.0% return on investment in Invesco Technology over 510 days. Invesco Technology is related to or competes with Pioneer High, Artisan High, Pace High, Morningstar Aggressive, Franklin High, Ab Global, and Siit High. The fund invests, under normal circumstances, at least 80 percent of its net assets in securities of issuers engaged in ... More
Invesco Technology 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 Technology'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 Technology Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.55 | |||
| Information Ratio | 0.0697 | |||
| Maximum Drawdown | 6.05 | |||
| Value At Risk | (2.43) | |||
| Potential Upside | 2.5 |
Invesco Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Technology's standard deviation. In reality, there are many statistical measures that can use Invesco Technology historical prices to predict the future Invesco Technology's volatility.| Risk Adjusted Performance | 0.1298 | |||
| Jensen Alpha | 0.0734 | |||
| Total Risk Alpha | 0.002 | |||
| Sortino Ratio | 0.0612 | |||
| Treynor Ratio | 0.1808 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Technology's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Invesco Technology Backtested Returns
Invesco Technology appears to be very steady, given 3 months investment horizon. Invesco Technology holds Efficiency (Sharpe) Ratio of 0.19, which attests that the entity had a 0.19% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Invesco Technology, which you can use to evaluate the volatility of the entity. Please utilize Invesco Technology's Risk Adjusted Performance of 0.1298, downside deviation of 1.55, and Market Risk Adjusted Performance of 0.1908 to validate if our risk estimates are consistent with your expectations. The fund retains a Market Volatility (i.e., Beta) of 1.18, 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 Technology will likely underperform.
Auto-correlation | 0.67 |
Good predictability
Invesco Technology Fund has good predictability. Overlapping area represents the amount of predictability between Invesco Technology time series from 5th of July 2023 to 16th of March 2024 and 16th of March 2024 to 26th of November 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 Technology price movement. The serial correlation of 0.67 indicates that around 67.0% of current Invesco Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 15.22 |
Invesco Technology lagged returns against current returns
Autocorrelation, which is Invesco Technology 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 Technology's mutual fund expected returns. We can calculate the autocorrelation of Invesco Technology returns to help us make a trade decision. For example, suppose you find that Invesco Technology 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 Technology 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 Technology mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Technology 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 Technology mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Invesco Technology Lagged Returns
When evaluating Invesco Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Technology mutual fund have on its future price. Invesco Technology 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 Technology autocorrelation shows the relationship between Invesco Technology mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Invesco Technology Fund.
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 Technology 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 Technology security.
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