Invesco Canadian Dividend Etf Market Value
| PDC Etf | CAD 34.95 0.10 0.29% |
| Symbol | Invesco |
Invesco Canadian '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 Canadian'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 Canadian.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Invesco Canadian on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Invesco Canadian Dividend or generate 0.0% return on investment in Invesco Canadian over 30 days. Invesco Canadian is related to or competes with Invesco SP, Invesco FTSE, Invesco ESG, Invesco SP, Invesco SP, Invesco NASDAQ, and Invesco SP. The fund seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Nasd... More
Invesco Canadian 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 Canadian'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 Canadian Dividend upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3734 | |||
| Information Ratio | 0.0679 | |||
| Maximum Drawdown | 1.86 | |||
| Value At Risk | (0.58) | |||
| Potential Upside | 0.8826 |
Invesco Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Canadian's standard deviation. In reality, there are many statistical measures that can use Invesco Canadian historical prices to predict the future Invesco Canadian's volatility.| Risk Adjusted Performance | 0.2676 | |||
| Jensen Alpha | 0.1353 | |||
| Total Risk Alpha | 0.0801 | |||
| Sortino Ratio | 0.0802 | |||
| Treynor Ratio | 1.33 |
Invesco Canadian Dividend Backtested Returns
As of now, Invesco Etf is very steady. Invesco Canadian Dividend holds Efficiency (Sharpe) Ratio of 0.34, which attests that the entity had a 0.34% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Invesco Canadian Dividend, which you can use to evaluate the volatility of the entity. Please check out Invesco Canadian's Risk Adjusted Performance of 0.2676, coefficient of variation of 278.01, and Market Risk Adjusted Performance of 1.34 to validate if the risk estimate we provide is consistent with the expected return of 0.15%. The etf retains a Market Volatility (i.e., Beta) of 0.11, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Invesco Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Canadian is expected to be smaller as well.
Auto-correlation | 0.76 |
Good predictability
Invesco Canadian Dividend has good predictability. Overlapping area represents the amount of predictability between Invesco Canadian time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Canadian Dividend price movement. The serial correlation of 0.76 indicates that around 76.0% of current Invesco Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Invesco Canadian Dividend lagged returns against current returns
Autocorrelation, which is Invesco Canadian 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 Canadian's etf expected returns. We can calculate the autocorrelation of Invesco Canadian returns to help us make a trade decision. For example, suppose you find that Invesco Canadian 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 Canadian 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 Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Canadian Lagged Returns
When evaluating Invesco Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Canadian etf have on its future price. Invesco Canadian 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 Canadian autocorrelation shows the relationship between Invesco Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Canadian Dividend.
Regressed Prices |
| Timeline |
Pair Trading with Invesco Canadian
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 Canadian 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 Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Invesco Etf
| 0.99 | ZWC | BMO Canadian High | PairCorr |
| 0.99 | XDV | iShares Canadian Select | PairCorr |
| 0.99 | CDZ | iShares SPTSX Canadian | PairCorr |
| 0.99 | XEI | iShares SPTSX Composite | PairCorr |
Moving against Invesco Etf
The ability to find closely correlated positions to Invesco Canadian 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 Canadian 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 Canadian - 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 Canadian Dividend to buy it.
The correlation of Invesco Canadian 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 Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Canadian Dividend 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 Canadian 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.Other Information on Investing in Invesco Etf
Invesco Canadian financial ratios help investors to determine whether Invesco Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Invesco with respect to the benefits of owning Invesco Canadian security.