21Shares Polygon's market value is the price at which a share of 21Shares Polygon trades on a public exchange. It measures the collective expectations of 21Shares Polygon ETP investors about its performance. 21Shares Polygon is selling for under 6.99 as of the 15th of December 2024; that is 4.64% down since the beginning of the trading day. The etf's lowest day price was 6.99. With this module, you can estimate the performance of a buy and hold strategy of 21Shares Polygon ETP and determine expected loss or profit from investing in 21Shares Polygon over a given investment horizon. Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
21Shares
21Shares Polygon '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 21Shares Polygon'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 21Shares Polygon.
0.00
11/15/2024
No Change 0.00
0.0
In 30 days
12/15/2024
0.00
If you would invest 0.00 in 21Shares Polygon on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding 21Shares Polygon ETP or generate 0.0% return on investment in 21Shares Polygon over 30 days.
21Shares Polygon 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 21Shares Polygon'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 21Shares Polygon ETP upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for 21Shares Polygon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 21Shares Polygon's standard deviation. In reality, there are many statistical measures that can use 21Shares Polygon historical prices to predict the future 21Shares Polygon's volatility.
21Shares Polygon is unstable given 3 months investment horizon. 21Shares Polygon ETP secures Sharpe Ratio (or Efficiency) of 0.13, which signifies that the etf had a 0.13% return per unit of risk over the last 3 months. We are able to interpolate and break down thirty different technical indicators, which can help you to evaluate if expected returns of 1.02% are justified by taking the suggested risk. Use 21Shares Polygon mean deviation of 5.71, and Coefficient Of Variation of 745.19 to evaluate company specific risk that cannot be diversified away. The entity shows a Beta (market volatility) of 1.91, which signifies 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, 21Shares Polygon will likely underperform.
Auto-correlation
-0.69
Very good reverse predictability
21Shares Polygon ETP has very good reverse predictability. Overlapping area represents the amount of predictability between 21Shares Polygon time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 21Shares Polygon ETP price movement. The serial correlation of -0.69 indicates that around 69.0% of current 21Shares Polygon price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.69
Spearman Rank Test
-0.59
Residual Average
0.0
Price Variance
0.31
21Shares Polygon ETP lagged returns against current returns
Autocorrelation, which is 21Shares Polygon 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 21Shares Polygon's etf expected returns. We can calculate the autocorrelation of 21Shares Polygon returns to help us make a trade decision. For example, suppose you find that 21Shares Polygon 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
21Shares Polygon 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 21Shares Polygon etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 21Shares Polygon etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 21Shares Polygon etf over time.
Current vs Lagged Prices
Timeline
21Shares Polygon Lagged Returns
When evaluating 21Shares Polygon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 21Shares Polygon etf have on its future price. 21Shares Polygon 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, 21Shares Polygon autocorrelation shows the relationship between 21Shares Polygon etf current value and its past values and can show if there is a momentum factor associated with investing in 21Shares Polygon ETP.
Regressed Prices
Timeline
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.