Invesco California Correlations

VCV Stock

USD 10.17 0.03 0.29%

The current 90-days correlation between Invesco California Value and Pimco California Municipal is 0.7 (i.e., Poor 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

Weak diversification

The correlation between Invesco California Value and DJI is 0.31 (i.e., 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 main economic indicators.

Moving together with Invesco Stock

0.69	DHIL	Diamond Hill Investment	Pair Corr
0.75	BX	Blackstone Group	Pair Corr
0.62	CG	Carlyle Group	Pair Corr
0.75	DX	Dynex Capital	Pair Corr
0.68	LU	Lufax Holding	Pair Corr
0.69	LX	Lexinfintech Holdings	Pair Corr
0.72	MC	Moelis	Pair Corr
0.7	SF	Stifel Financial	Pair Corr
0.75	TW	Tradeweb Markets Normal Trading	Pair Corr
0.8	VINP	Vinci Partners Inves	Pair Corr
0.73	VRTS	Virtus Investment	Pair Corr

Moving against Invesco Stock

0.37	EZPW	EZCORP Inc	Pair Corr
0.35	ESHA	ESH Acquisition Corp	Pair Corr

Related Correlations Analysis

	PZC	VPV	NAC	VKI	MUC
PZC		0.84	0.73	0.86	0.91	PZC
VPV	0.84		0.92	0.8	0.84	VPV
NAC	0.73	0.92		0.77	0.81	NAC
VKI	0.86	0.8	0.77		0.84	VKI
MUC	0.91	0.84	0.81	0.84		MUC
	PZC	VPV	NAC	VKI	MUC

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PZC	0.57	(0.11)	(0.55)	1.13	(1.30)	3.88
VPV	0.49	(0.05)	(0.22)	0.91	(1.18)	5.58
NAC	0.53	(0.03)	(0.17)	1.13	(1.33)	3.83
VKI	0.75	(0.04)	0.28	1.37	(2.10)	5.48
MUC	0.61	(0.05)	(0.15)	1.19	(1.25)	6.01

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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