Invesco Currencyshares Canadian Etf Market Value
| FXC Etf | USD 71.63 0.07 0.1% |
| Symbol | Invesco |
The market value of Invesco CurrencyShares 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 CurrencyShares' value that differs from its market value or its book value, called intrinsic value, which is Invesco CurrencyShares' 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 CurrencyShares' market value can be influenced by many factors that don't directly affect Invesco CurrencyShares' 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 CurrencyShares' value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco CurrencyShares is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco CurrencyShares' 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 CurrencyShares '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 CurrencyShares' 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 CurrencyShares.
| 05/10/2022 |
| 04/29/2024 |
If you would invest 0.00 in Invesco CurrencyShares on May 10, 2022 and sell it all today you would earn a total of 0.00 from holding Invesco CurrencyShares Canadian or generate 0.0% return on investment in Invesco CurrencyShares over 720 days. Invesco CurrencyShares is related to or competes with Invesco CurrencyShares, Invesco CurrencyShares, Invesco CurrencyShares, Invesco CurrencyShares, and Invesco CurrencyShares. The sponsor believes that, for many investors, the shares represent a cost-effective investment relative to traditional ... More
Invesco CurrencyShares 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 CurrencyShares' 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 CurrencyShares Canadian upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 1.47 | |||
| Value At Risk | (0.65) | |||
| Potential Upside | 0.4573 |
Invesco CurrencyShares Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco CurrencyShares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco CurrencyShares' standard deviation. In reality, there are many statistical measures that can use Invesco CurrencyShares historical prices to predict the future Invesco CurrencyShares' volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.06) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco CurrencyShares' 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 CurrencyShares Backtested Returns
Invesco CurrencyShares holds Efficiency (Sharpe) Ratio of -0.0654, which attests that the entity had a -0.0654% return per unit of risk over the last 3 months. Invesco CurrencyShares exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Invesco CurrencyShares' Standard Deviation of 0.3186, market risk adjusted performance of (0.03), and Risk Adjusted Performance of (0.02) to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.38, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Invesco CurrencyShares' returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco CurrencyShares is expected to be smaller as well.
Auto-correlation | 0.10 |
Insignificant predictability
Invesco CurrencyShares Canadian has insignificant predictability. Overlapping area represents the amount of predictability between Invesco CurrencyShares time series from 10th of May 2022 to 5th of May 2023 and 5th of May 2023 to 29th 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 CurrencyShares price movement. The serial correlation of 0.1 indicates that less than 10.0% of current Invesco CurrencyShares price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.68 |
Invesco CurrencyShares lagged returns against current returns
Autocorrelation, which is Invesco CurrencyShares 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 CurrencyShares' etf expected returns. We can calculate the autocorrelation of Invesco CurrencyShares returns to help us make a trade decision. For example, suppose you find that Invesco CurrencyShares 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 CurrencyShares 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 CurrencyShares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco CurrencyShares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco CurrencyShares etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco CurrencyShares Lagged Returns
When evaluating Invesco CurrencyShares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco CurrencyShares etf have on its future price. Invesco CurrencyShares 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 CurrencyShares autocorrelation shows the relationship between Invesco CurrencyShares etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco CurrencyShares Canadian.
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 CurrencyShares 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 CurrencyShares' short interest history, or implied volatility extrapolated from Invesco CurrencyShares options trading.
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Invesco CurrencyShares 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.