Invesco Charter Fund Market Value
| CHTYX Fund | USD 18.08 0.16 0.89% |
| Symbol | Invesco |
Invesco Charter '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 Charter'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 Charter.
| 02/23/2024 |
| 04/23/2024 |
If you would invest 0.00 in Invesco Charter on February 23, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Charter Fund or generate 0.0% return on investment in Invesco Charter over 60 days. Invesco Charter is related to or competes with Invesco Municipal, Invesco Municipal, Invesco Municipal, Invesco High, Oppenheimer Strategic, Oppenheimer International, and Oppenheimer International. The fund invests primarily in equity securities More
Invesco Charter 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 Charter'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 Charter Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7334 | |||
| Information Ratio | 0.0032 | |||
| Maximum Drawdown | 3.6 | |||
| Value At Risk | (1.17) | |||
| Potential Upside | 1.25 |
Invesco Charter Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Charter's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Charter's standard deviation. In reality, there are many statistical measures that can use Invesco Charter historical prices to predict the future Invesco Charter's volatility.| Risk Adjusted Performance | 0.0786 | |||
| Jensen Alpha | 0.0027 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.0031 | |||
| Treynor Ratio | 0.0819 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Charter'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 Charter Backtested Returns
We consider Invesco Charter very steady. Invesco Charter holds Efficiency (Sharpe) Ratio of 0.0939, which attests that the entity had a 0.0939% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Invesco Charter, which you can use to evaluate the volatility of the entity. Please check out Invesco Charter's Risk Adjusted Performance of 0.0786, market risk adjusted performance of 0.0919, and Downside Deviation of 0.7334 to validate if the risk estimate we provide is consistent with the expected return of 0.069%. The fund retains a Market Volatility (i.e., Beta) of 1.0, which attests to possible diversification benefits within a given portfolio. Invesco Charter returns are very sensitive to returns on the market. As the market goes up or down, Invesco Charter is expected to follow.
Auto-correlation | -0.82 |
Excellent reverse predictability
Invesco Charter Fund has excellent reverse predictability. Overlapping area represents the amount of predictability between Invesco Charter time series from 23rd of February 2024 to 24th of March 2024 and 24th of March 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 Charter price movement. The serial correlation of -0.82 indicates that around 82.0% of current Invesco Charter price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.82 | |
| Spearman Rank Test | -0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Invesco Charter lagged returns against current returns
Autocorrelation, which is Invesco Charter 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 Charter's mutual fund expected returns. We can calculate the autocorrelation of Invesco Charter returns to help us make a trade decision. For example, suppose you find that Invesco Charter 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 Charter 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 Charter mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Charter 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 Charter mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Invesco Charter Lagged Returns
When evaluating Invesco Charter's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Charter mutual fund have on its future price. Invesco Charter 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 Charter autocorrelation shows the relationship between Invesco Charter mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Invesco Charter Fund.
Regressed Prices |
| Timeline |
Pair Trading with Invesco Charter
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Invesco Charter position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Invesco Charter will appreciate offsetting losses from the drop in the long position's value.Moving together with Invesco Mutual Fund
| 0.61 | VMINX | Invesco Municipal | PairCorr |
| 0.61 | VMIIX | Invesco Municipal | PairCorr |
| 0.99 | OARDX | Oppenheimer Rising | PairCorr |
| 0.9 | AMHYX | Invesco High Yield | PairCorr |
The ability to find closely correlated positions to Invesco Charter could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco Charter when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco Charter - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco Charter Fund to buy it.
The correlation of Invesco Charter 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Charter moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Charter moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Invesco Charter can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Invesco Charter Correlation, Invesco Charter Volatility and Invesco Charter Alpha and Beta module to complement your research on Invesco Charter. You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Invesco Charter 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.