Microsectors Fang Index Etf Market Value
| FNGO Etf | USD 93.00 8.59 8.46% |
| Symbol | MicroSectors |
The market value of MicroSectors FANG Index is measured differently than its book value, which is the value of MicroSectors that is recorded on the company's balance sheet. Investors also form their own opinion of MicroSectors FANG's value that differs from its market value or its book value, called intrinsic value, which is MicroSectors FANG'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 MicroSectors FANG's market value can be influenced by many factors that don't directly affect MicroSectors FANG'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 MicroSectors FANG's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectors FANG is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectors FANG'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.
MicroSectors FANG '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 MicroSectors FANG'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 MicroSectors FANG.
| 11/19/2024 |
| 12/19/2024 |
If you would invest 0.00 in MicroSectors FANG on November 19, 2024 and sell it all today you would earn a total of 0.00 from holding MicroSectors FANG Index or generate 0.0% return on investment in MicroSectors FANG over 30 days. MicroSectors FANG is related to or competes with MicroSectors FANG, Direxion Daily, MicroSectors FANG, and Direxion Daily. The notes are senior unsecured medium-term notes issued by Bank of Montreal with a return linked to a 2X leveraged parti... More
MicroSectors FANG 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 MicroSectors FANG'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 MicroSectors FANG Index upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.87 | |||
| Information Ratio | 0.1732 | |||
| Maximum Drawdown | 13.03 | |||
| Value At Risk | (3.66) | |||
| Potential Upside | 4.58 |
MicroSectors FANG Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MicroSectors FANG's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MicroSectors FANG's standard deviation. In reality, there are many statistical measures that can use MicroSectors FANG historical prices to predict the future MicroSectors FANG's volatility.| Risk Adjusted Performance | 0.1532 | |||
| Jensen Alpha | 0.4544 | |||
| Total Risk Alpha | 0.4233 | |||
| Sortino Ratio | 0.1638 | |||
| Treynor Ratio | 0.2735 |
MicroSectors FANG Index Backtested Returns
MicroSectors FANG appears to be very steady, given 3 months investment horizon. MicroSectors FANG Index has Sharpe Ratio of 0.17, which conveys that the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for MicroSectors FANG, which you can use to evaluate the volatility of the etf. Please exercise MicroSectors FANG's Downside Deviation of 2.87, mean deviation of 1.97, and Risk Adjusted Performance of 0.1532 to check out if our risk estimates are consistent with your expectations. The etf secures a Beta (Market Risk) of 1.79, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, MicroSectors FANG will likely underperform.
Auto-correlation | 0.23 |
Weak predictability
MicroSectors FANG Index has weak predictability. Overlapping area represents the amount of predictability between MicroSectors FANG time series from 19th of November 2024 to 4th of December 2024 and 4th of December 2024 to 19th 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 MicroSectors FANG Index price movement. The serial correlation of 0.23 indicates that over 23.0% of current MicroSectors FANG price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | 0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 18.28 |
MicroSectors FANG Index lagged returns against current returns
Autocorrelation, which is MicroSectors FANG 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 MicroSectors FANG's etf expected returns. We can calculate the autocorrelation of MicroSectors FANG returns to help us make a trade decision. For example, suppose you find that MicroSectors FANG 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 |
MicroSectors FANG 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 MicroSectors FANG etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MicroSectors FANG etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MicroSectors FANG etf over time.
Current vs Lagged Prices |
| Timeline |
MicroSectors FANG Lagged Returns
When evaluating MicroSectors FANG's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MicroSectors FANG etf have on its future price. MicroSectors FANG 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, MicroSectors FANG autocorrelation shows the relationship between MicroSectors FANG etf current value and its past values and can show if there is a momentum factor associated with investing in MicroSectors FANG Index.
Regressed Prices |
| Timeline |
Pair Trading with MicroSectors FANG
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 MicroSectors FANG 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 MicroSectors FANG will appreciate offsetting losses from the drop in the long position's value.Moving together with MicroSectors Etf
| 0.89 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.89 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.97 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.89 | UPRO | ProShares UltraPro SP500 | PairCorr |
Moving against MicroSectors Etf
| 0.54 | NRGU | Bank Of Montreal | PairCorr |
| 0.5 | LABU | Direxion Daily SP | PairCorr |
| 0.48 | VZ | Verizon Communications Fiscal Year End 28th of January 2025 | PairCorr |
The ability to find closely correlated positions to MicroSectors FANG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MicroSectors FANG 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 MicroSectors FANG - 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 MicroSectors FANG Index to buy it.
The correlation of MicroSectors FANG 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 MicroSectors FANG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MicroSectors FANG Index 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 MicroSectors FANG 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 MicroSectors FANG Correlation, MicroSectors FANG Volatility and MicroSectors FANG Alpha and Beta module to complement your research on MicroSectors FANG. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
MicroSectors FANG 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.