Corecommodity Natural Resources Etf Market Value
| CCNR Etf | 25.09 0.07 0.28% |
| Symbol | CoreCommodity |
The market value of CoreCommodity Natural is measured differently than its book value, which is the value of CoreCommodity that is recorded on the company's balance sheet. Investors also form their own opinion of CoreCommodity Natural's value that differs from its market value or its book value, called intrinsic value, which is CoreCommodity Natural'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 CoreCommodity Natural's market value can be influenced by many factors that don't directly affect CoreCommodity Natural'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 CoreCommodity Natural's value and its price as these two are different measures arrived at by different means. Investors typically determine if CoreCommodity Natural is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CoreCommodity Natural'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.
CoreCommodity Natural '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 CoreCommodity Natural'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 CoreCommodity Natural.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in CoreCommodity Natural on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding CoreCommodity Natural Resources or generate 0.0% return on investment in CoreCommodity Natural over 30 days. CoreCommodity Natural is related to or competes with Direxion Daily, SPDR SP, Xtrackers RREEF, Direxion Daily, IShares Global, Fidelity MSCI, and Invesco MSCI. CoreCommodity Natural is entity of United States More
CoreCommodity Natural 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 CoreCommodity Natural'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 CoreCommodity Natural Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.27 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 4.83 | |||
| Value At Risk | (1.90) | |||
| Potential Upside | 1.43 |
CoreCommodity Natural Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CoreCommodity Natural's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CoreCommodity Natural's standard deviation. In reality, there are many statistical measures that can use CoreCommodity Natural historical prices to predict the future CoreCommodity Natural's volatility.| Risk Adjusted Performance | 0.0081 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | (0.10) | |||
| Treynor Ratio | (0.01) |
CoreCommodity Natural Backtested Returns
Currently, CoreCommodity Natural Resources is very steady. CoreCommodity Natural secures Sharpe Ratio (or Efficiency) of 0.0563, which signifies that the etf had a 0.0563% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for CoreCommodity Natural Resources, which you can use to evaluate the volatility of the entity. Please confirm CoreCommodity Natural's Downside Deviation of 1.27, risk adjusted performance of 0.0081, and Mean Deviation of 0.8062 to double-check if the risk estimate we provide is consistent with the expected return of 0.0553%. The etf shows a Beta (market volatility) of 0.5, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, CoreCommodity Natural's returns are expected to increase less than the market. However, during the bear market, the loss of holding CoreCommodity Natural is expected to be smaller as well.
Auto-correlation | -0.15 |
Insignificant reverse predictability
CoreCommodity Natural Resources has insignificant reverse predictability. Overlapping area represents the amount of predictability between CoreCommodity Natural time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 CoreCommodity Natural price movement. The serial correlation of -0.15 indicates that less than 15.0% of current CoreCommodity Natural price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
CoreCommodity Natural lagged returns against current returns
Autocorrelation, which is CoreCommodity Natural 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 CoreCommodity Natural's etf expected returns. We can calculate the autocorrelation of CoreCommodity Natural returns to help us make a trade decision. For example, suppose you find that CoreCommodity Natural 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 |
CoreCommodity Natural 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 CoreCommodity Natural etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CoreCommodity Natural etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CoreCommodity Natural etf over time.
Current vs Lagged Prices |
| Timeline |
CoreCommodity Natural Lagged Returns
When evaluating CoreCommodity Natural's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CoreCommodity Natural etf have on its future price. CoreCommodity Natural 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, CoreCommodity Natural autocorrelation shows the relationship between CoreCommodity Natural etf current value and its past values and can show if there is a momentum factor associated with investing in CoreCommodity Natural Resources.
Regressed Prices |
| Timeline |
Pair Trading with CoreCommodity Natural
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 CoreCommodity Natural 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 CoreCommodity Natural will appreciate offsetting losses from the drop in the long position's value.Moving together with CoreCommodity Etf
| 0.77 | EV | Mast Global Battery | PairCorr |
| 0.8 | XLB | Materials Select Sector Sell-off Trend | PairCorr |
| 0.73 | VAW | Vanguard Materials Index | PairCorr |
The ability to find closely correlated positions to CoreCommodity Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CoreCommodity Natural 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 CoreCommodity Natural - 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 CoreCommodity Natural Resources to buy it.
The correlation of CoreCommodity Natural 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 CoreCommodity Natural moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CoreCommodity Natural 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 CoreCommodity Natural 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 CoreCommodity Natural Correlation, CoreCommodity Natural Volatility and CoreCommodity Natural Alpha and Beta module to complement your research on CoreCommodity Natural. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
CoreCommodity Natural 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.