Global X (Australia) Market Value
| HGEN Etf | 5.04 0.23 4.36% |
| Symbol | Global |
Please note, there is a significant difference between Global X's value and its price as these two are different measures arrived at by different means. Investors typically determine if Global X is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Global X'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.
Global X '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 Global X'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 Global X.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Global X on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Global X Hydrogen or generate 0.0% return on investment in Global X over 30 days. Global X is related to or competes with Betashares Asia, BetaShares Australia, Australian High, and Vanguard Australian. Global X is entity of Australia. It is traded as Etf on AU exchange. More
Global X 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 Global X'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 Global X Hydrogen upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.17 | |||
| Information Ratio | 0.0648 | |||
| Maximum Drawdown | 14.41 | |||
| Value At Risk | (2.90) | |||
| Potential Upside | 3.13 |
Global X Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Global X's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Global X's standard deviation. In reality, there are many statistical measures that can use Global X historical prices to predict the future Global X's volatility.| Risk Adjusted Performance | 0.0897 | |||
| Jensen Alpha | 0.3 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0676 | |||
| Treynor Ratio | (0.49) |
Global X Hydrogen Backtested Returns
Global X appears to be slightly risky, given 3 months investment horizon. Global X Hydrogen holds Efficiency (Sharpe) Ratio of 0.12, which attests that the entity had a 0.12% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Global X Hydrogen, which you can use to evaluate the volatility of the entity. Please utilize Global X's Market Risk Adjusted Performance of (0.48), downside deviation of 2.17, and Risk Adjusted Performance of 0.0897 to validate if our risk estimates are consistent with your expectations. The etf retains a Market Volatility (i.e., Beta) of -0.5, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Global X are expected to decrease at a much lower rate. During the bear market, Global X is likely to outperform the market.
Auto-correlation | 0.45 |
Average predictability
Global X Hydrogen has average predictability. Overlapping area represents the amount of predictability between Global X time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Global X Hydrogen price movement. The serial correlation of 0.45 indicates that just about 45.0% of current Global X price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Global X Hydrogen lagged returns against current returns
Autocorrelation, which is Global X 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 Global X's etf expected returns. We can calculate the autocorrelation of Global X returns to help us make a trade decision. For example, suppose you find that Global X 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 |
Global X 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 Global X etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Global X etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Global X etf over time.
Current vs Lagged Prices |
| Timeline |
Global X Lagged Returns
When evaluating Global X's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Global X etf have on its future price. Global X 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, Global X autocorrelation shows the relationship between Global X etf current value and its past values and can show if there is a momentum factor associated with investing in Global X Hydrogen.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out Global X Correlation, Global X Volatility and Global X Alpha and Beta module to complement your research on Global X. You can also try the Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Global X 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.