Ishares Jpx Nikkei 400 Etf Market Value
| JPXN Etf | USD 73.97 1.80 2.49% |
| Symbol | IShares |
The market value of iShares JPX Nikkei is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares JPX's value that differs from its market value or its book value, called intrinsic value, which is IShares JPX'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 IShares JPX's market value can be influenced by many factors that don't directly affect IShares JPX'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 IShares JPX's value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares JPX is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares JPX'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.
IShares JPX '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 IShares JPX'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 IShares JPX.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in IShares JPX on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding iShares JPX Nikkei 400 or generate 0.0% return on investment in IShares JPX over 30 days. IShares JPX is related to or competes with IShares MSCI, IShares Currency, and IShares MSCI. The fund generally invests at least 80 percent of its assets in the component securities of its underlying index and in ... More
IShares JPX 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 IShares JPX'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 iShares JPX Nikkei 400 upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 5.08 | |||
| Value At Risk | (1.84) | |||
| Potential Upside | 2.12 |
IShares JPX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares JPX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares JPX's standard deviation. In reality, there are many statistical measures that can use IShares JPX historical prices to predict the future IShares JPX's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.07) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of IShares JPX's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
iShares JPX Nikkei Backtested Returns
iShares JPX Nikkei holds Efficiency (Sharpe) Ratio of -0.0278, which attests that the entity had a -0.0278% return per unit of risk over the last 3 months. iShares JPX Nikkei exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out IShares JPX's Standard Deviation of 1.12, market risk adjusted performance of (0.06), and Risk Adjusted Performance of (0.02) to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.67, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, IShares JPX's returns are expected to increase less than the market. However, during the bear market, the loss of holding IShares JPX is expected to be smaller as well.
Auto-correlation | -0.53 |
Good reverse predictability
iShares JPX Nikkei 400 has good reverse predictability. Overlapping area represents the amount of predictability between IShares JPX 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 iShares JPX Nikkei price movement. The serial correlation of -0.53 indicates that about 53.0% of current IShares JPX price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.67 |
iShares JPX Nikkei lagged returns against current returns
Autocorrelation, which is IShares JPX 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 IShares JPX's etf expected returns. We can calculate the autocorrelation of IShares JPX returns to help us make a trade decision. For example, suppose you find that IShares JPX 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 |
IShares JPX 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 IShares JPX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares JPX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares JPX etf over time.
Current vs Lagged Prices |
| Timeline |
IShares JPX Lagged Returns
When evaluating IShares JPX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares JPX etf have on its future price. IShares JPX 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, IShares JPX autocorrelation shows the relationship between IShares JPX etf current value and its past values and can show if there is a momentum factor associated with investing in iShares JPX Nikkei 400.
Regressed Prices |
| Timeline |
Pair Trading with IShares JPX
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 IShares JPX 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 IShares JPX will appreciate offsetting losses from the drop in the long position's value.Moving together with IShares Etf
| 0.99 | EWJ | iShares MSCI Japan | PairCorr |
| 0.99 | BBJP | JPMorgan BetaBuilders Low Volatility | PairCorr |
| 1.0 | FLJP | Franklin FTSE Japan | PairCorr |
Moving against IShares Etf
| 0.76 | TSJA | TSJA | PairCorr |
| 0.75 | DSJA | DSJA | PairCorr |
| 0.66 | BTC | Grayscale Bitcoin Mini | PairCorr |
| 0.65 | EOS | Eaton Vance Enhanced | PairCorr |
| 0.58 | SIXD | AIM ETF Products | PairCorr |
The ability to find closely correlated positions to IShares JPX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares JPX 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 IShares JPX - 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 iShares JPX Nikkei 400 to buy it.
The correlation of IShares JPX 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 IShares JPX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares JPX Nikkei 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 IShares JPX 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 IShares JPX Correlation, IShares JPX Volatility and IShares JPX Alpha and Beta module to complement your research on IShares JPX. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
IShares JPX 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.