Invesco Aerospace Defense Etf Market Value
| PPA Etf | USD 99.78 0.67 0.67% |
| Symbol | Invesco |
The market value of Invesco Aerospace Defense 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 Aerospace's value that differs from its market value or its book value, called intrinsic value, which is Invesco Aerospace'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 Aerospace's market value can be influenced by many factors that don't directly affect Invesco Aerospace'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 Aerospace's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Aerospace is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Aerospace'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 Aerospace '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 Aerospace'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 Aerospace.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Invesco Aerospace on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Aerospace Defense or generate 0.0% return on investment in Invesco Aerospace over 30 days. Invesco Aerospace is related to or competes with Fidelity MSCI, Fidelity MSCI, Fidelity MSCI, Fidelity MSCI, and Fidelity MSCI. The fund generally will invest at least 90 percent of its total assets in securities that comprise the underlying index More
Invesco Aerospace 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 Aerospace'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 Aerospace Defense upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5479 | |||
| Information Ratio | 0.1018 | |||
| Maximum Drawdown | 2.69 | |||
| Value At Risk | (0.87) | |||
| Potential Upside | 1.33 |
Invesco Aerospace Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Aerospace's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Aerospace's standard deviation. In reality, there are many statistical measures that can use Invesco Aerospace historical prices to predict the future Invesco Aerospace's volatility.| Risk Adjusted Performance | 0.158 | |||
| Jensen Alpha | 0.0836 | |||
| Total Risk Alpha | 0.0633 | |||
| Sortino Ratio | 0.1171 | |||
| Treynor Ratio | 0.1936 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Aerospace'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 Aerospace Defense Backtested Returns
We consider Invesco Aerospace very steady. Invesco Aerospace Defense holds Efficiency (Sharpe) Ratio of 0.23, which attests that the entity had a 0.23% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Invesco Aerospace Defense, which you can use to evaluate the volatility of the entity. Please check out Invesco Aerospace's Downside Deviation of 0.5479, risk adjusted performance of 0.158, and Market Risk Adjusted Performance of 0.2036 to validate if the risk estimate we provide is consistent with the expected return of 0.15%. The etf retains a Market Volatility (i.e., Beta) of 0.77, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Invesco Aerospace's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Aerospace is expected to be smaller as well.
Auto-correlation | 0.02 |
Virtually no predictability
Invesco Aerospace Defense has virtually no predictability. Overlapping area represents the amount of predictability between Invesco Aerospace time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 Aerospace Defense price movement. The serial correlation of 0.02 indicates that only 2.0% of current Invesco Aerospace price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.63 |
Invesco Aerospace Defense lagged returns against current returns
Autocorrelation, which is Invesco Aerospace 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 Aerospace's etf expected returns. We can calculate the autocorrelation of Invesco Aerospace returns to help us make a trade decision. For example, suppose you find that Invesco Aerospace 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 Aerospace 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 Aerospace etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Aerospace etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Aerospace etf over time.
Current vs Lagged Prices |
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Invesco Aerospace Lagged Returns
When evaluating Invesco Aerospace's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Aerospace etf have on its future price. Invesco Aerospace 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 Aerospace autocorrelation shows the relationship between Invesco Aerospace etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Aerospace Defense.
Regressed Prices |
| Timeline |
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Check out Invesco Aerospace Correlation, Invesco Aerospace Volatility and Invesco Aerospace Alpha and Beta module to complement your research on Invesco Aerospace. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Invesco Aerospace 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.