159783's market value is the price at which a share of 159783 trades on a public exchange. It measures the collective expectations of 159783 investors about its performance. 159783 is trading at 0.58 as of the 30th of November 2024, a 1.75% up since the beginning of the trading day. The etf's open price was 0.57. With this module, you can estimate the performance of a buy and hold strategy of 159783 and determine expected loss or profit from investing in 159783 over a given investment horizon. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.
Symbol
159783
159783 '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 159783'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 159783.
0.00
10/31/2024
No Change 0.00
0.0
In 31 days
11/30/2024
0.00
If you would invest 0.00 in 159783 on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding 159783 or generate 0.0% return on investment in 159783 over 30 days.
159783 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 159783'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 159783 upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for 159783's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 159783's standard deviation. In reality, there are many statistical measures that can use 159783 historical prices to predict the future 159783's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as 159783. Your research has to be compared to or analyzed against 159783's peers to derive any actionable benefits. When done correctly, 159783's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in 159783.
159783 Backtested Returns
159783 appears to be out of control, given 3 months investment horizon. 159783 retains Efficiency (Sharpe Ratio) of 0.15, which signifies that the etf had a 0.15% return per unit of price deviation over the last 3 months. By evaluating 159783's technical indicators, you can evaluate if the expected return of 0.71% is justified by implied risk. Please makes use of 159783's Coefficient Of Variation of 776.14, standard deviation of 4.55, and Market Risk Adjusted Performance of (10.34) to double-check if our risk estimates are consistent with your expectations. The entity owns a Beta (Systematic Risk) of -0.0557, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning 159783 are expected to decrease at a much lower rate. During the bear market, 159783 is likely to outperform the market.
Auto-correlation
-0.46
Modest reverse predictability
159783 has modest reverse predictability. Overlapping area represents the amount of predictability between 159783 time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 159783 price movement. The serial correlation of -0.46 indicates that about 46.0% of current 159783 price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.46
Spearman Rank Test
-0.01
Residual Average
0.0
Price Variance
0.0
159783 lagged returns against current returns
Autocorrelation, which is 159783 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 159783's etf expected returns. We can calculate the autocorrelation of 159783 returns to help us make a trade decision. For example, suppose you find that 159783 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
159783 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 159783 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 159783 etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 159783 etf over time.
Current vs Lagged Prices
Timeline
159783 Lagged Returns
When evaluating 159783's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 159783 etf have on its future price. 159783 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, 159783 autocorrelation shows the relationship between 159783 etf current value and its past values and can show if there is a momentum factor associated with investing in 159783.
Regressed Prices
Timeline
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.