Invesco Global Clean Etf Market Value
PBD Etf | USD 13.41 0.19 1.44% |
Symbol | Invesco |
The market value of Invesco Global Clean 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 Global's value that differs from its market value or its book value, called intrinsic value, which is Invesco Global'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 Global's market value can be influenced by many factors that don't directly affect Invesco Global'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 Global's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Global is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Global'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 Global '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 Global'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 Global.
03/29/2024 |
| 04/28/2024 |
If you would invest 0.00 in Invesco Global on March 29, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Global Clean or generate 0.0% return on investment in Invesco Global over 30 days. Invesco Global is related to or competes with Global X, Global X, Global X, Global X, and Global X. The fund generally will invest at least 90 percent of its total assets in the securities that comprise the underlying in... More
Invesco Global 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 Global'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 Global Clean upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.11) | |||
Maximum Drawdown | 6.09 | |||
Value At Risk | (2.19) | |||
Potential Upside | 1.92 |
Invesco Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Global's standard deviation. In reality, there are many statistical measures that can use Invesco Global historical prices to predict the future Invesco Global's volatility.Risk Adjusted Performance | (0.02) | |||
Jensen Alpha | (0.17) | |||
Total Risk Alpha | (0.23) | |||
Treynor Ratio | (0.05) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Global'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 Global Clean Backtested Returns
Invesco Global Clean holds Efficiency (Sharpe) Ratio of -0.0497, which attests that the entity had a -0.0497% return per unit of risk over the last 3 months. Invesco Global Clean exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Invesco Global's Risk Adjusted Performance of (0.02), standard deviation of 1.34, and Market Risk Adjusted Performance of (0.04) to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 1.29, 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 Global will likely underperform.
Auto-correlation | -0.26 |
Weak reverse predictability
Invesco Global Clean has weak reverse predictability. Overlapping area represents the amount of predictability between Invesco Global time series from 29th of March 2024 to 13th of April 2024 and 13th of April 2024 to 28th 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 Global Clean price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Invesco Global price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.26 | |
Spearman Rank Test | 0.05 | |
Residual Average | 0.0 | |
Price Variance | 0.01 |
Invesco Global Clean lagged returns against current returns
Autocorrelation, which is Invesco Global 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 Global's etf expected returns. We can calculate the autocorrelation of Invesco Global returns to help us make a trade decision. For example, suppose you find that Invesco Global 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 Global 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 Global etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Global etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Global etf over time.
Current vs Lagged Prices |
Timeline |
Invesco Global Lagged Returns
When evaluating Invesco Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Global etf have on its future price. Invesco Global 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 Global autocorrelation shows the relationship between Invesco Global etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Global Clean.
Regressed Prices |
Timeline |
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Check out Invesco Global Correlation, Invesco Global Volatility and Invesco Global Alpha and Beta module to complement your research on Invesco Global. Note that the Invesco Global Clean information on this page should be used as a complementary analysis to other Invesco Global'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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Invesco Global 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.