Invesco Taxable Municipal Etf Market Value
| BAB Etf | USD 25.74 0.07 0.27% |
| Symbol | Invesco |
The market value of Invesco Taxable Municipal 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 Taxable's value that differs from its market value or its book value, called intrinsic value, which is Invesco Taxable'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 Taxable's market value can be influenced by many factors that don't directly affect Invesco Taxable'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 Taxable's value and its price as these two are different measures arrived at by different means. Investors typically determine if Invesco Taxable is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Invesco Taxable'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 Taxable '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 Taxable'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 Taxable.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in Invesco Taxable on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding Invesco Taxable Municipal or generate 0.0% return on investment in Invesco Taxable over 720 days. Invesco Taxable is related to or competes with Continental, Alpha Metallurgical, IShares National, VanEck High, and Invesco National. The fund generally will invest at least 80 percent of its total assets in securities that comprise the index More
Invesco Taxable 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 Taxable'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 Taxable Municipal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 2.64 | |||
| Value At Risk | (1.02) | |||
| Potential Upside | 0.6452 |
Invesco Taxable Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Invesco Taxable's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Invesco Taxable's standard deviation. In reality, there are many statistical measures that can use Invesco Taxable historical prices to predict the future Invesco Taxable's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.11) | |||
| Treynor Ratio | (0.14) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Invesco Taxable'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 Taxable Municipal Backtested Returns
Invesco Taxable Municipal holds Efficiency (Sharpe) Ratio of -0.0676, which attests that the entity had a -0.0676% return per unit of risk over the last 3 months. Invesco Taxable Municipal exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Invesco Taxable's Market Risk Adjusted Performance of (0.13), risk adjusted performance of (0.04), and Standard Deviation of 0.5175 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.33, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Invesco Taxable's returns are expected to increase less than the market. However, during the bear market, the loss of holding Invesco Taxable is expected to be smaller as well.
Auto-correlation | 0.57 |
Modest predictability
Invesco Taxable Municipal has modest predictability. Overlapping area represents the amount of predictability between Invesco Taxable time series from 6th of May 2022 to 1st of May 2023 and 1st of May 2023 to 25th of April 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 Taxable Municipal price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current Invesco Taxable price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.48 |
Invesco Taxable Municipal lagged returns against current returns
Autocorrelation, which is Invesco Taxable 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 Taxable's etf expected returns. We can calculate the autocorrelation of Invesco Taxable returns to help us make a trade decision. For example, suppose you find that Invesco Taxable 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 Taxable 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 Taxable etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Invesco Taxable etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Invesco Taxable etf over time.
Current vs Lagged Prices |
| Timeline |
Invesco Taxable Lagged Returns
When evaluating Invesco Taxable's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Invesco Taxable etf have on its future price. Invesco Taxable 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 Taxable autocorrelation shows the relationship between Invesco Taxable etf current value and its past values and can show if there is a momentum factor associated with investing in Invesco Taxable Municipal.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Invesco Taxable in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Invesco Taxable's short interest history, or implied volatility extrapolated from Invesco Taxable options trading.
Pair Trading with Invesco Taxable
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 Taxable 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 Taxable will appreciate offsetting losses from the drop in the long position's value.Moving together with Invesco Etf
| 0.98 | BLV | Vanguard Long Term | PairCorr |
| 0.95 | IGLB | iShares 10 Year | PairCorr |
| 0.95 | SPLB | SPDR Barclays Long | PairCorr |
| 0.96 | FFIU | Fieldstone UVA Uncon | PairCorr |
Moving against Invesco Etf
| 0.54 | DIG | ProShares Ultra Oil | PairCorr |
| 0.54 | IEO | iShares Oil Gas | PairCorr |
| 0.53 | FCG | First Trust Natural | PairCorr |
| 0.52 | NRGU | MicroSectors Big Oil | PairCorr |
| 0.52 | PXE | Invesco Dynamic Energy | PairCorr |
The ability to find closely correlated positions to Invesco Taxable 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 Taxable 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 Taxable - 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 Taxable Municipal to buy it.
The correlation of Invesco Taxable 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 Taxable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Invesco Taxable Municipal 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 Taxable 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 Taxable Correlation, Invesco Taxable Volatility and Invesco Taxable Alpha and Beta module to complement your research on Invesco Taxable. Note that the Invesco Taxable Municipal information on this page should be used as a complementary analysis to other Invesco Taxable's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Invesco Taxable 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.