Invesco Water Resources Etf Market Value
| PHO Etf | USD 63.13 0.09 0.14% |
| Symbol | Invesco |
The market value of Invesco Water Resources 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 Water's value that differs from its market value or its book value, called intrinsic value, which is Invesco Water'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 Water's market value can be influenced by many factors that don't directly affect Invesco Water'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 Water's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Water is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Water'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 Water '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 Water'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 Water.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Invesco Water on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Water Resources or generate 0.0% return on investment in Invesco Water over 30 days. Invesco Water is related to or competes with IShares Global, IShares Global, IShares Global, IShares Global, and IShares Global. The fund generally will invest at least 90 percent of its total assets in securities that comprise the underlying index More
Invesco Water 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 Water'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 Water Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9888 | |||
| Information Ratio | 0.0479 | |||
| Maximum Drawdown | 3.55 | |||
| Value At Risk | (1.68) | |||
| Potential Upside | 1.36 |
Invesco Water Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Water's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Water's standard deviation. In reality, there are many statistical measures that can use Invesco Water historical prices to predict the future Invesco Water's volatility.| Risk Adjusted Performance | 0.0802 | |||
| Jensen Alpha | 0.0292 | |||
| Total Risk Alpha | 0.0167 | |||
| Sortino Ratio | 0.0433 | |||
| Treynor Ratio | 0.0823 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Water'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 Water Resources Backtested Returns
We consider Invesco Water very steady. Invesco Water Resources holds Efficiency (Sharpe) Ratio of 0.0914, which attests that the entity had a 0.0914% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Invesco Water Resources, which you can use to evaluate the volatility of the entity. Please check out Invesco Water's Market Risk Adjusted Performance of 0.0923, risk adjusted performance of 0.0802, and Downside Deviation of 0.9888 to validate if the risk estimate we provide is consistent with the expected return of 0.0812%. The etf retains a Market Volatility (i.e., Beta) of 1.23, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Invesco Water will likely underperform.
Auto-correlation | 0.37 |
Below average predictability
Invesco Water Resources has below average predictability. Overlapping area represents the amount of predictability between Invesco Water time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Water Resources price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Invesco Water price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.99 |
Invesco Water Resources lagged returns against current returns
Autocorrelation, which is Invesco Water 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 Water's etf expected returns. We can calculate the autocorrelation of Invesco Water returns to help us make a trade decision. For example, suppose you find that Invesco Water 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 Water 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 Water etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Water etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Water etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Water Lagged Returns
When evaluating Invesco Water's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Water etf have on its future price. Invesco Water 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 Water autocorrelation shows the relationship between Invesco Water etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Water Resources.
Regressed Prices |
| Timeline |
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Check out Invesco Water Correlation, Invesco Water Volatility and Invesco Water Alpha and Beta module to complement your research on Invesco Water. Note that the Invesco Water Resources information on this page should be used as a complementary analysis to other Invesco Water'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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Invesco Water 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.