Invesco Golden Dragon Etf Market Value
| PGJ Etf | USD 23.57 0.31 1.30% |
| Symbol | Invesco |
The market value of Invesco Golden Dragon is measured differently than its book value, which is the value of Invesco that is recorded on the company's balance sheet. Investors also form their own opinion of Invesco Golden's value that differs from its market value or its book value, called intrinsic value, which is Invesco Golden's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Invesco Golden's market value can be influenced by many factors that don't directly affect Invesco Golden's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Invesco Golden's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Golden is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Golden's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Invesco Golden '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 Golden's etf 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 Golden.
| 03/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in Invesco Golden on March 19, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Golden Dragon or generate 0.0% return on investment in Invesco Golden over 30 days. Invesco Golden is related to or competes with KraneShares CSI, IShares MSCI, Xtrackers Harvest, and SPDR SP. The fund generally will invest at least 90 percent of its total assets in the securities that comprise the underlying in... More
Invesco Golden 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 Golden's etf 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 Golden Dragon upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 10.53 | |||
| Value At Risk | (2.75) | |||
| Potential Upside | 3.39 |
Invesco Golden Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Golden's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Golden's standard deviation. In reality, there are many statistical measures that can use Invesco Golden historical prices to predict the future Invesco Golden's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.18) | |||
| Treynor Ratio | (0.1) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Golden'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 Golden Dragon Backtested Returns
We consider Invesco Golden slightly risky. Invesco Golden Dragon holds Efficiency (Sharpe) Ratio of 0.0595, which attests that the entity had a 0.0595% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Invesco Golden Dragon, which you can use to evaluate the volatility of the entity. Please check out Invesco Golden's Risk Adjusted Performance of (0), standard deviation of 1.94, and Market Risk Adjusted Performance of (0.09) to validate if the risk estimate we provide is consistent with the expected return of 0.11%. The etf retains a Market Volatility (i.e., Beta) of 0.41, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Invesco Golden's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Golden is expected to be smaller as well.
Auto-correlation | -0.35 |
Poor reverse predictability
Invesco Golden Dragon has poor reverse predictability. Overlapping area represents the amount of predictability between Invesco Golden time series from 19th of March 2024 to 3rd of April 2024 and 3rd of April 2024 to 18th 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 Golden Dragon price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Invesco Golden price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
Invesco Golden Dragon lagged returns against current returns
Autocorrelation, which is Invesco Golden etf'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 Golden's etf expected returns. We can calculate the autocorrelation of Invesco Golden returns to help us make a trade decision. For example, suppose you find that Invesco Golden has exhibited high autocorrelation historically, and you observe that the etf 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 Golden 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 Golden etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Golden etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Golden etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Golden Lagged Returns
When evaluating Invesco Golden's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Golden etf have on its future price. Invesco Golden 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 Golden autocorrelation shows the relationship between Invesco Golden etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Golden Dragon.
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 Golden 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 Golden's short interest history, or implied volatility extrapolated from Invesco Golden options trading.
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Check out Invesco Golden Correlation, Invesco Golden Volatility and Invesco Golden Alpha and Beta module to complement your research on Invesco Golden. Note that the Invesco Golden Dragon information on this page should be used as a complementary analysis to other Invesco Golden's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Invesco Golden technical etf 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, etf market cycles, or different charting patterns.