Invesco Solar Etf Market Value
| TAN Etf | USD 37.47 0.64 1.74% |
| Symbol | Invesco |
The market value of Invesco Solar ETF 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 Solar's value that differs from its market value or its book value, called intrinsic value, which is Invesco Solar'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 Solar's market value can be influenced by many factors that don't directly affect Invesco Solar'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 Solar's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Solar is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Solar'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 Solar '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 Solar'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 Solar.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in Invesco Solar on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding Invesco Solar ETF or generate 0.0% return on investment in Invesco Solar over 720 days. Invesco Solar is related to or competes with IShares Global, Invesco WilderHill, First Trust, Global X, and First Trust. The fund will generally invest at least 90 percent of its total assets in the securities that comprise the underlying in... More
Invesco Solar 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 Solar'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 Solar ETF upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 17.14 | |||
| Value At Risk | (3.93) | |||
| Potential Upside | 3.35 |
Invesco Solar Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Solar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Solar's standard deviation. In reality, there are many statistical measures that can use Invesco Solar historical prices to predict the future Invesco Solar's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | 0.2197 |
Invesco Solar ETF Backtested Returns
Invesco Solar ETF holds Efficiency (Sharpe) Ratio of -0.0304, which attests that the entity had a -0.0304% return per unit of risk over the last 3 months. Invesco Solar ETF exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Invesco Solar's Risk Adjusted Performance of (0.02), standard deviation of 2.6, and Market Risk Adjusted Performance of 0.2297 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of -0.47, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Invesco Solar are expected to decrease at a much lower rate. During the bear market, Invesco Solar is likely to outperform the market.
Auto-correlation | 0.66 |
Good predictability
Invesco Solar ETF has good predictability. Overlapping area represents the amount of predictability between Invesco Solar time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd of December 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 Solar ETF price movement. The serial correlation of 0.66 indicates that around 66.0% of current Invesco Solar price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 15.17 |
Invesco Solar ETF lagged returns against current returns
Autocorrelation, which is Invesco Solar 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 Solar's etf expected returns. We can calculate the autocorrelation of Invesco Solar returns to help us make a trade decision. For example, suppose you find that Invesco Solar 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 Solar 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 Solar etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Solar etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Solar etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Solar Lagged Returns
When evaluating Invesco Solar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Solar etf have on its future price. Invesco Solar 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 Solar autocorrelation shows the relationship between Invesco Solar etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Solar ETF.
Regressed Prices |
| Timeline |
Pair Trading with Invesco Solar
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 Solar 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 Solar will appreciate offsetting losses from the drop in the long position's value.Moving together with Invesco Etf
Moving against Invesco Etf
| 0.79 | IPAY | Amplify ETF Trust | PairCorr |
| 0.79 | MEME | Roundhill Investments | PairCorr |
| 0.76 | RSPY | Tuttle Capital Management | PairCorr |
| 0.73 | DSJA | DSJA | PairCorr |
| 0.47 | BOTZ | Global X Robotics | PairCorr |
The ability to find closely correlated positions to Invesco Solar 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 Solar 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 Solar - 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 Solar ETF to buy it.
The correlation of Invesco Solar 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 Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Solar ETF 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 Solar 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 Solar Correlation, Invesco Solar Volatility and Invesco Solar Alpha and Beta module to complement your research on Invesco Solar. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Invesco Solar 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.