Essential 40 Stock Etf Beta
| ESN Etf | 15.47 0.10 0.64% |
Essential 40 Stock fundamentals help investors to digest information that contributes to Essential's financial success or failures. It also enables traders to predict the movement of Essential Etf. The fundamental analysis module provides a way to measure Essential's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Essential etf.
Essential |
Essential 40 Stock ETF Beta Analysis
Essential's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Essential 40 Stock has a Beta of 0.0. This indicator is about the same for the average (which is currently at 0.0) family and about the same as Large Blend (which currently averages 0.0) category. This indicator is about the same for all United States etfs average (which is currently at 0.0).
Essential Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Essential's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Essential could also be used in its relative valuation, which is a method of valuing Essential by comparing valuation metrics of similar companies.Essential is currently under evaluation in beta as compared to similar ETFs.
Essential Fundamentals
| One Year Return | 20.10 % | |||
| Three Year Return | 9.90 % | |||
| Five Year Return | 12.60 % | |||
| Ten Year Return | 8.20 % |
About Essential Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Essential 40 Stock's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Essential using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Essential 40 Stock based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Essential
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 Essential 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 Essential will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Essential could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Essential 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 Essential - 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 Essential 40 Stock to buy it.
The correlation of Essential 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 Essential moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Essential 40 Stock 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 Essential 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 Essential Piotroski F Score and Essential Altman Z Score analysis. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
The market value of Essential 40 Stock is measured differently than its book value, which is the value of Essential that is recorded on the company's balance sheet. Investors also form their own opinion of Essential's value that differs from its market value or its book value, called intrinsic value, which is Essential'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 Essential's market value can be influenced by many factors that don't directly affect Essential'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 Essential's value and its price as these two are different measures arrived at by different means. Investors typically determine if Essential is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Essential'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.