Invesco Summit Fund Market Value
| SMITX Fund | USD 24.54 0.31 1.28% |
| Symbol | Invesco |
Invesco Summit '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 Summit'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 Summit.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Invesco Summit on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Summit Fund or generate 0.0% return on investment in Invesco Summit over 30 days. Invesco Summit is related to or competes with Invesco Municipal, Invesco Municipal, Invesco Municipal, Oppenheimer Rising, Invesco High, Oppenheimer Strategic, and Oppenheimer International. The fund invests primarily in equity securities of issuers of all market capitalizations that are considered by the fund... More
Invesco Summit 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 Summit'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 Summit Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.11 | |||
| Information Ratio | 0.0052 | |||
| Maximum Drawdown | 5.71 | |||
| Value At Risk | (1.93) | |||
| Potential Upside | 2.03 |
Invesco Summit Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Summit's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Summit's standard deviation. In reality, there are many statistical measures that can use Invesco Summit historical prices to predict the future Invesco Summit's volatility.| Risk Adjusted Performance | 0.0502 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0059 | |||
| Treynor Ratio | 0.0647 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Summit'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 Summit Backtested Returns
We consider Invesco Summit very steady. Invesco Summit holds Efficiency (Sharpe) Ratio of 0.0431, which attests that the entity had a 0.0431% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Invesco Summit, which you can use to evaluate the volatility of the entity. Please check out Invesco Summit's Market Risk Adjusted Performance of 0.0747, downside deviation of 1.11, and Risk Adjusted Performance of 0.0502 to validate if the risk estimate we provide is consistent with the expected return of 0.0546%. The fund retains a Market Volatility (i.e., Beta) of 1.26, 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 Summit will likely underperform.
Auto-correlation | 0.35 |
Below average predictability
Invesco Summit Fund has below average predictability. Overlapping area represents the amount of predictability between Invesco Summit time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd of April 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 Summit price movement. The serial correlation of 0.35 indicates that nearly 35.0% of current Invesco Summit price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.35 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
Invesco Summit lagged returns against current returns
Autocorrelation, which is Invesco Summit 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 Summit's mutual fund expected returns. We can calculate the autocorrelation of Invesco Summit returns to help us make a trade decision. For example, suppose you find that Invesco Summit 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 Summit 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 Summit mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Summit 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 Summit mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Invesco Summit Lagged Returns
When evaluating Invesco Summit's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Summit mutual fund have on its future price. Invesco Summit 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 Summit autocorrelation shows the relationship between Invesco Summit mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Invesco Summit Fund.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Invesco Summit in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Invesco Summit's short interest history, or implied volatility extrapolated from Invesco Summit options trading.
Currently Active Assets on Macroaxis
Check out Invesco Summit Correlation, Invesco Summit Volatility and Invesco Summit Alpha and Beta module to complement your research on Invesco Summit. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Invesco Summit technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.