Invesco High Yield Etf Market Value
| HIYS Etf | 25.74 0.02 0.08% |
| Symbol | Invesco |
The market value of Invesco High Yield 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 High's value that differs from its market value or its book value, called intrinsic value, which is Invesco High'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 High's market value can be influenced by many factors that don't directly affect Invesco High'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 High's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco High is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco High'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 High '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 High'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 High.
| 12/03/2023 |
| 11/27/2024 |
If you would invest 0.00 in Invesco High on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding Invesco High Yield or generate 0.0% return on investment in Invesco High over 360 days. Invesco High is related to or competes with IShares Edge, IShares Intl, and IShares JP. Invesco High is entity of United States. It is traded as Etf on BATS exchange. More
Invesco High 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 High'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 High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1729 | |||
| Information Ratio | (0.63) | |||
| Maximum Drawdown | 0.8599 | |||
| Value At Risk | (0.24) | |||
| Potential Upside | 0.2757 |
Invesco High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco High's standard deviation. In reality, there are many statistical measures that can use Invesco High historical prices to predict the future Invesco High's volatility.| Risk Adjusted Performance | 0.0638 | |||
| Jensen Alpha | 1.0E-4 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.63) | |||
| Treynor Ratio | 0.1213 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco High'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 High Yield Backtested Returns
Currently, Invesco High Yield is very steady. Invesco High Yield holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Invesco High Yield, which you can use to evaluate the volatility of the entity. Please check out Invesco High's Coefficient Of Variation of 777.29, risk adjusted performance of 0.0638, and Market Risk Adjusted Performance of 0.1313 to validate if the risk estimate we provide is consistent with the expected return of 0.0191%. The etf retains a Market Volatility (i.e., Beta) of 0.0996, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Invesco High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco High is expected to be smaller as well.
Auto-correlation | 0.88 |
Very good predictability
Invesco High Yield has very good predictability. Overlapping area represents the amount of predictability between Invesco High time series from 3rd of December 2023 to 31st of May 2024 and 31st of May 2024 to 27th of November 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 High Yield price movement. The serial correlation of 0.88 indicates that approximately 88.0% of current Invesco High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.88 | |
| Spearman Rank Test | 0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.15 |
Invesco High Yield lagged returns against current returns
Autocorrelation, which is Invesco High 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 High's etf expected returns. We can calculate the autocorrelation of Invesco High returns to help us make a trade decision. For example, suppose you find that Invesco High 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 High 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 High etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco High etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco High etf over time.
Current vs Lagged Prices |
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Invesco High Lagged Returns
When evaluating Invesco High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco High etf have on its future price. Invesco High 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 High autocorrelation shows the relationship between Invesco High etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco High Yield.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out Invesco High Correlation, Invesco High Volatility and Invesco High Alpha and Beta module to complement your research on Invesco High. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Invesco High 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.