Alps Equal Sector Etf Market Value
| EQL Etf | USD 133.20 0.51 0.38% |
| Symbol | ALPS |
The market value of ALPS Equal Sector is measured differently than its book value, which is the value of ALPS that is recorded on the company's balance sheet. Investors also form their own opinion of ALPS Equal's value that differs from its market value or its book value, called intrinsic value, which is ALPS Equal'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 ALPS Equal's market value can be influenced by many factors that don't directly affect ALPS Equal'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 ALPS Equal's value and its price as these two are different measures arrived at by different means. Investors typically determine if ALPS Equal is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ALPS Equal'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.
ALPS Equal '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 ALPS Equal'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 ALPS Equal.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in ALPS Equal on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding ALPS Equal Sector or generate 0.0% return on investment in ALPS Equal over 30 days. ALPS Equal is related to or competes with WisdomTree Earnings, Invesco SP, IShares MSCI, First Trust, and First Trust. In order to track the underlying index, the fund will use a fund of funds approach, and seek to achieve its investment o... More
ALPS Equal 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 ALPS Equal'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 ALPS Equal Sector upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.614 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 2.56 | |||
| Value At Risk | (0.85) | |||
| Potential Upside | 0.9391 |
ALPS Equal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ALPS Equal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ALPS Equal's standard deviation. In reality, there are many statistical measures that can use ALPS Equal historical prices to predict the future ALPS Equal's volatility.| Risk Adjusted Performance | 0.1528 | |||
| Jensen Alpha | 0.0225 | |||
| Total Risk Alpha | 0.0116 | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.1608 |
ALPS Equal Sector Backtested Returns
As of now, ALPS Etf is very steady. ALPS Equal Sector secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the etf had a 0.24% return per unit of risk over the last 3 months. We have found thirty technical indicators for ALPS Equal Sector, which you can use to evaluate the volatility of the entity. Please confirm ALPS Equal's risk adjusted performance of 0.1528, and Mean Deviation of 0.4506 to double-check if the risk estimate we provide is consistent with the expected return of 0.13%. The etf shows a Beta (market volatility) of 0.68, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, ALPS Equal's returns are expected to increase less than the market. However, during the bear market, the loss of holding ALPS Equal is expected to be smaller as well.
Auto-correlation | 0.93 |
Excellent predictability
ALPS Equal Sector has excellent predictability. Overlapping area represents the amount of predictability between ALPS Equal time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 ALPS Equal Sector price movement. The serial correlation of 0.93 indicates that approximately 93.0% of current ALPS Equal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.93 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 1.93 |
ALPS Equal Sector lagged returns against current returns
Autocorrelation, which is ALPS Equal 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 ALPS Equal's etf expected returns. We can calculate the autocorrelation of ALPS Equal returns to help us make a trade decision. For example, suppose you find that ALPS Equal 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 |
ALPS Equal 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 ALPS Equal etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ALPS Equal etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ALPS Equal etf over time.
Current vs Lagged Prices |
| Timeline |
ALPS Equal Lagged Returns
When evaluating ALPS Equal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ALPS Equal etf have on its future price. ALPS Equal 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, ALPS Equal autocorrelation shows the relationship between ALPS Equal etf current value and its past values and can show if there is a momentum factor associated with investing in ALPS Equal Sector.
Regressed Prices |
| Timeline |
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ALPS Equal 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.