Invesco Golden Dragon Etf Market Value
| PGJ Etf | USD 25.97 0.15 0.58% |
| Symbol | Invesco |
The market value of Invesco Golden Dragon 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 Golden's value that differs from its market value or its book value, called intrinsic value, which is Invesco Golden'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 Golden's market value can be influenced by many factors that don't directly affect Invesco Golden'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 Golden's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Golden is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Golden'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 Golden '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 Golden'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 Golden.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Invesco Golden on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Invesco Golden Dragon or generate 0.0% return on investment in Invesco Golden over 720 days. Invesco Golden is related to or competes with SPDR SP, IShares MSCI, IShares China, IShares MSCI, and IShares MSCI. The fund generally will invest at least 90 percent of its total assets in the securities that comprise the underlying in... More
Invesco Golden 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 Golden'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 Golden Dragon upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.5 | |||
| Information Ratio | 0.0819 | |||
| Maximum Drawdown | 17.88 | |||
| Value At Risk | (4.50) | |||
| Potential Upside | 5.16 |
Invesco Golden Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Golden's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Golden's standard deviation. In reality, there are many statistical measures that can use Invesco Golden historical prices to predict the future Invesco Golden's volatility.| Risk Adjusted Performance | 0.1063 | |||
| Jensen Alpha | 0.299 | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | 0.095 | |||
| Treynor Ratio | 0.7089 |
Invesco Golden Dragon Backtested Returns
Invesco Golden appears to be not too volatile, given 3 months investment horizon. Invesco Golden Dragon holds Efficiency (Sharpe) Ratio of 0.12, which attests that the entity had a 0.12% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Invesco Golden Dragon, which you can use to evaluate the volatility of the entity. Please utilize Invesco Golden's Market Risk Adjusted Performance of 0.7189, risk adjusted performance of 0.1063, and Downside Deviation of 2.5 to validate if our risk estimates are consistent with your expectations. The etf retains a Market Volatility (i.e., Beta) of 0.51, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Invesco Golden's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Golden is expected to be smaller as well.
Auto-correlation | -0.55 |
Good reverse predictability
Invesco Golden Dragon has good reverse predictability. Overlapping area represents the amount of predictability between Invesco Golden time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 to 1st 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 Golden Dragon price movement. The serial correlation of -0.55 indicates that about 55.0% of current Invesco Golden price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | -0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 4.48 |
Invesco Golden Dragon lagged returns against current returns
Autocorrelation, which is Invesco Golden 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 Golden's etf expected returns. We can calculate the autocorrelation of Invesco Golden returns to help us make a trade decision. For example, suppose you find that Invesco Golden 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 Golden 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 Golden etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Golden etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Golden etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Golden Lagged Returns
When evaluating Invesco Golden's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Golden etf have on its future price. Invesco Golden 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 Golden autocorrelation shows the relationship between Invesco Golden etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Golden Dragon.
Regressed Prices |
| Timeline |
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Invesco Golden 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.