Invesco Preferred Etf Market Value
| PGX Etf | USD 11.53 0.16 1.41% |
| Symbol | Invesco |
The market value of Invesco Preferred ETF 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 Preferred's value that differs from its market value or its book value, called intrinsic value, which is Invesco Preferred'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 Preferred's market value can be influenced by many factors that don't directly affect Invesco Preferred'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 Preferred's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Preferred is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Preferred'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 Preferred '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 Preferred'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 Preferred.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Invesco Preferred on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Preferred ETF or generate 0.0% return on investment in Invesco Preferred over 30 days. Invesco Preferred is related to or competes with Global X, and VanEck Preferred. The fund generally will invest at least 80 percent of its total assets in the components of the index More
Invesco Preferred 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 Preferred'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 Preferred ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7715 | |||
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 2.91 | |||
| Value At Risk | (1.28) | |||
| Potential Upside | 0.7712 |
Invesco Preferred Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Preferred's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Preferred's standard deviation. In reality, there are many statistical measures that can use Invesco Preferred historical prices to predict the future Invesco Preferred's volatility.| Risk Adjusted Performance | 0.0111 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.11) | |||
| Treynor Ratio | 0.0044 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Preferred'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 Preferred ETF Backtested Returns
Invesco Preferred ETF holds Efficiency (Sharpe) Ratio of -0.0151, which attests that the entity had a -0.0151% return per unit of risk over the last 3 months. Invesco Preferred ETF exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Invesco Preferred's Market Risk Adjusted Performance of 0.0144, risk adjusted performance of 0.0111, and Downside Deviation of 0.7715 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.24, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Invesco Preferred's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Preferred is expected to be smaller as well.
Auto-correlation | 0.27 |
Poor predictability
Invesco Preferred ETF has poor predictability. Overlapping area represents the amount of predictability between Invesco Preferred time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th 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 Preferred ETF price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Invesco Preferred price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Invesco Preferred ETF lagged returns against current returns
Autocorrelation, which is Invesco Preferred 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 Preferred's etf expected returns. We can calculate the autocorrelation of Invesco Preferred returns to help us make a trade decision. For example, suppose you find that Invesco Preferred 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 Preferred 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 Preferred etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Preferred etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Preferred etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Preferred Lagged Returns
When evaluating Invesco Preferred's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Preferred etf have on its future price. Invesco Preferred 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 Preferred autocorrelation shows the relationship between Invesco Preferred etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Preferred ETF.
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 Preferred 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 Preferred's short interest history, or implied volatility extrapolated from Invesco Preferred options trading.
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Check out Invesco Preferred Correlation, Invesco Preferred Volatility and Invesco Preferred Alpha and Beta module to complement your research on Invesco Preferred. Note that the Invesco Preferred ETF information on this page should be used as a complementary analysis to other Invesco Preferred'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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Invesco Preferred 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.