Invesco Water Resources Etf Market Value
| PHO Etf | USD 67.21 0.36 0.53% |
| 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.
| 02/28/2023 |
| 02/17/2025 |
If you would invest 0.00 in Invesco Water on February 28, 2023 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 720 days. Invesco Water is related to or competes with Invesco SP, Invesco Global, First Trust, Invesco WilderHill, and VanEck Agribusiness. 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.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 4.9 | |||
| Value At Risk | (1.40) | |||
| Potential Upside | 1.28 |
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 | (0.06) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.14) |
Invesco Water Resources Backtested Returns
Invesco Water Resources holds Efficiency (Sharpe) Ratio of -0.0478, which attests that the entity had a -0.0478 % return per unit of risk over the last 3 months. Invesco Water Resources exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Invesco Water's Market Risk Adjusted Performance of (0.13), risk adjusted performance of (0.06), and Standard Deviation of 0.9116 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.64, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Invesco Water's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Water is expected to be smaller as well.
Auto-correlation | 0.18 |
Very weak predictability
Invesco Water Resources has very weak predictability. Overlapping area represents the amount of predictability between Invesco Water time series from 28th of February 2023 to 23rd of February 2024 and 23rd of February 2024 to 17th of February 2025. 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 0.18 indicates that over 18.0% of current Invesco Water price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 5.34 |
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 |
Pair Trading with Invesco Water
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Invesco Water position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Invesco Water will appreciate offsetting losses from the drop in the long position's value.Moving together with Invesco Etf
| 0.7 | EV | Mast Global Battery | PairCorr |
| 0.94 | XLB | Materials Select Sector | PairCorr |
| 0.96 | VAW | Vanguard Materials Index | PairCorr |
| 0.92 | XME | SPDR SP Metals | PairCorr |
The ability to find closely correlated positions to Invesco Water could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Invesco Water when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Invesco Water - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Invesco Water Resources to buy it.
The correlation of Invesco Water is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Invesco Water moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Water Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Invesco Water can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Invesco Water Correlation, Invesco Water Volatility and Invesco Water Alpha and Beta module to complement your research on Invesco Water. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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.