Themes Airlines Etf Market Value
| AIRL Etf | 29.42 0.12 0.41% |
| Symbol | Themes |
The market value of Themes Airlines ETF is measured differently than its book value, which is the value of Themes that is recorded on the company's balance sheet. Investors also form their own opinion of Themes Airlines' value that differs from its market value or its book value, called intrinsic value, which is Themes Airlines' 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 Themes Airlines' market value can be influenced by many factors that don't directly affect Themes Airlines' 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 Themes Airlines' value and its price as these two are different measures arrived at by different means. Investors typically determine if Themes Airlines is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Themes Airlines' 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.
Themes Airlines '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 Themes Airlines' 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 Themes Airlines.
| 09/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Themes Airlines on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding Themes Airlines ETF or generate 0.0% return on investment in Themes Airlines over 60 days. Themes Airlines is related to or competes with First Trust, Ultimus Managers, Horizon Kinetics, Harbor Health, American Beacon, First Trust, and Direxion Daily. Themes Airlines is entity of United States More
Themes Airlines 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 Themes Airlines' 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 Themes Airlines ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9972 | |||
| Information Ratio | 0.1719 | |||
| Maximum Drawdown | 6.19 | |||
| Value At Risk | (1.22) | |||
| Potential Upside | 2.24 |
Themes Airlines Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Themes Airlines' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Themes Airlines' standard deviation. In reality, there are many statistical measures that can use Themes Airlines historical prices to predict the future Themes Airlines' volatility.| Risk Adjusted Performance | 0.2203 | |||
| Jensen Alpha | 0.2101 | |||
| Total Risk Alpha | 0.1394 | |||
| Sortino Ratio | 0.1942 | |||
| Treynor Ratio | 0.3605 |
Themes Airlines ETF Backtested Returns
Themes Airlines appears to be very steady, given 3 months investment horizon. Themes Airlines ETF owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.28, which indicates the etf had a 0.28% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Themes Airlines ETF, which you can use to evaluate the volatility of the etf. Please review Themes Airlines' Risk Adjusted Performance of 0.2203, coefficient of variation of 353.02, and Semi Deviation of 0.5707 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 0.86, which indicates possible diversification benefits within a given portfolio. Themes Airlines returns are very sensitive to returns on the market. As the market goes up or down, Themes Airlines is expected to follow.
Auto-correlation | 0.70 |
Good predictability
Themes Airlines ETF has good predictability. Overlapping area represents the amount of predictability between Themes Airlines time series from 29th of September 2024 to 29th of October 2024 and 29th of October 2024 to 28th 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 Themes Airlines ETF price movement. The serial correlation of 0.7 indicates that around 70.0% of current Themes Airlines price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 0.46 |
Themes Airlines ETF lagged returns against current returns
Autocorrelation, which is Themes Airlines 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 Themes Airlines' etf expected returns. We can calculate the autocorrelation of Themes Airlines returns to help us make a trade decision. For example, suppose you find that Themes Airlines 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 |
Themes Airlines 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 Themes Airlines etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Themes Airlines etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Themes Airlines etf over time.
Current vs Lagged Prices |
| Timeline |
Themes Airlines Lagged Returns
When evaluating Themes Airlines' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Themes Airlines etf have on its future price. Themes Airlines 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, Themes Airlines autocorrelation shows the relationship between Themes Airlines etf current value and its past values and can show if there is a momentum factor associated with investing in Themes Airlines ETF.
Regressed Prices |
| Timeline |
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Themes Airlines 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.