Invesco Summit Fund Market Value
ASMYX Fund | USD 24.93 0.54 2.21% |
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.
07/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in Invesco Summit on July 28, 2023 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 270 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 | 1.1 | |||
Information Ratio | 0.0011 | |||
Maximum Drawdown | 6.43 | |||
Value At Risk | (1.91) | |||
Potential Upside | 2.04 |
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 | 0.05 | |||
Jensen Alpha | (0.02) | |||
Total Risk Alpha | (0.08) | |||
Sortino Ratio | 0.0012 | |||
Treynor Ratio | 0.0642 |
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 0.0691, which attests that the entity had a 0.0691% return per unit of risk over the last 3 months. We have found twenty-eight 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 0.0742, downside deviation of 1.1, and Risk Adjusted Performance of 0.05 to validate if the risk estimate we provide is consistent with the expected return of 0.0884%. 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 | -0.27 |
Weak reverse predictability
Invesco Summit Fund has weak reverse predictability. Overlapping area represents the amount of predictability between Invesco Summit time series from 28th of July 2023 to 10th of December 2023 and 10th of December 2023 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 -0.27 indicates that nearly 27.0% of current Invesco Summit price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.27 | |
Spearman Rank Test | 0.01 | |
Residual Average | 0.0 | |
Price Variance | 1.89 |
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 |
Pair Trading with Invesco Summit
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 Summit 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 Summit will appreciate offsetting losses from the drop in the long position's value.Moving together with Invesco Mutual Fund
0.63 | VMINX | Invesco Municipal | PairCorr |
0.62 | VMIIX | Invesco Municipal | PairCorr |
0.94 | OARDX | Oppenheimer Rising | PairCorr |
0.87 | AMHYX | Invesco High Yield | PairCorr |
The ability to find closely correlated positions to Invesco Summit 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 Summit 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 Summit - 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 Summit Fund to buy it.
The correlation of Invesco Summit 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 Summit moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Summit 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 Summit 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 Summit Correlation, Invesco Summit Volatility and Invesco Summit Alpha and Beta module to complement your research on Invesco Summit. You can also try the ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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.