Graniteshares Gold Trust Etf Market Value
| BAR Etf | USD 26.14 0.30 1.13% |
| Symbol | GraniteShares |
The market value of GraniteShares Gold Trust is measured differently than its book value, which is the value of GraniteShares that is recorded on the company's balance sheet. Investors also form their own opinion of GraniteShares Gold's value that differs from its market value or its book value, called intrinsic value, which is GraniteShares Gold'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 GraniteShares Gold's market value can be influenced by many factors that don't directly affect GraniteShares Gold'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 GraniteShares Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if GraniteShares Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GraniteShares Gold'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.
GraniteShares Gold '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 GraniteShares Gold'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 GraniteShares Gold.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in GraniteShares Gold on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding GraniteShares Gold Trust or generate 0.0% return on investment in GraniteShares Gold over 390 days. GraniteShares Gold is related to or competes with SPDR Gold, Goldman Sachs, Abrdn Physical, VanEck Merk, and Abrdn Physical. The investment seeks to reflect generally the performance of the price of gold More
GraniteShares Gold 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 GraniteShares Gold'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 GraniteShares Gold Trust upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.2 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 4.84 | |||
| Value At Risk | (1.49) | |||
| Potential Upside | 1.47 |
GraniteShares Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GraniteShares Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GraniteShares Gold's standard deviation. In reality, there are many statistical measures that can use GraniteShares Gold historical prices to predict the future GraniteShares Gold's volatility.| Risk Adjusted Performance | 0.0749 | |||
| Jensen Alpha | 0.1125 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.43) |
GraniteShares Gold Trust Backtested Returns
Currently, GraniteShares Gold Trust is very steady. GraniteShares Gold Trust holds Efficiency (Sharpe) Ratio of 0.0624, which attests that the entity had a 0.0624% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for GraniteShares Gold Trust, which you can use to evaluate the volatility of the entity. Please check out GraniteShares Gold's market risk adjusted performance of (0.42), and Risk Adjusted Performance of 0.0749 to validate if the risk estimate we provide is consistent with the expected return of 0.0632%. The etf retains a Market Volatility (i.e., Beta) of -0.21, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning GraniteShares Gold are expected to decrease at a much lower rate. During the bear market, GraniteShares Gold is likely to outperform the market.
Auto-correlation | 0.86 |
Very good predictability
GraniteShares Gold Trust has very good predictability. Overlapping area represents the amount of predictability between GraniteShares Gold time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th 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 GraniteShares Gold Trust price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current GraniteShares Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 1.88 |
GraniteShares Gold Trust lagged returns against current returns
Autocorrelation, which is GraniteShares Gold 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 GraniteShares Gold's etf expected returns. We can calculate the autocorrelation of GraniteShares Gold returns to help us make a trade decision. For example, suppose you find that GraniteShares Gold 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 |
GraniteShares Gold 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 GraniteShares Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GraniteShares Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GraniteShares Gold etf over time.
Current vs Lagged Prices |
| Timeline |
GraniteShares Gold Lagged Returns
When evaluating GraniteShares Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GraniteShares Gold etf have on its future price. GraniteShares Gold 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, GraniteShares Gold autocorrelation shows the relationship between GraniteShares Gold etf current value and its past values and can show if there is a momentum factor associated with investing in GraniteShares Gold Trust.
Regressed Prices |
| Timeline |
Pair Trading with GraniteShares Gold
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 GraniteShares Gold 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 GraniteShares Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with GraniteShares Etf
| 1.0 | GLD | SPDR Gold Shares | PairCorr |
| 1.0 | IAU | iShares Gold Trust | PairCorr |
| 0.87 | SLV | iShares Silver Trust | PairCorr |
| 1.0 | GLDM | SPDR Gold MiniShares | PairCorr |
| 1.0 | SGOL | abrdn Physical Gold | PairCorr |
The ability to find closely correlated positions to GraniteShares Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GraniteShares Gold 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 GraniteShares Gold - 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 GraniteShares Gold Trust to buy it.
The correlation of GraniteShares Gold 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 GraniteShares Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares Gold Trust 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 GraniteShares Gold 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 GraniteShares Gold Correlation, GraniteShares Gold Volatility and GraniteShares Gold Alpha and Beta module to complement your research on GraniteShares Gold. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
GraniteShares Gold 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.