Spdr Ice Preferred Etf Market Value
| PSK Etf | USD 34.13 0.12 0.35% |
| Symbol | SPDR |
The market value of SPDR ICE Preferred is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR ICE's value that differs from its market value or its book value, called intrinsic value, which is SPDR ICE'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 SPDR ICE's market value can be influenced by many factors that don't directly affect SPDR ICE'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 SPDR ICE's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR ICE is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR ICE'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.
SPDR ICE '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 SPDR ICE'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 SPDR ICE.
| 12/15/2022 |
| 12/04/2024 |
If you would invest 0.00 in SPDR ICE on December 15, 2022 and sell it all today you would earn a total of 0.00 from holding SPDR ICE Preferred or generate 0.0% return on investment in SPDR ICE over 720 days. SPDR ICE is related to or competes with VanEck Preferred, Invesco Preferred, Invesco Financial, Global X, and Invesco Variable. In seeking to track the performance of the index, the adviser employs a sampling strategy More
SPDR ICE 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 SPDR ICE'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 SPDR ICE Preferred upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5607 | |||
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 2.34 | |||
| Value At Risk | (1.01) | |||
| Potential Upside | 0.8889 |
SPDR ICE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR ICE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR ICE's standard deviation. In reality, there are many statistical measures that can use SPDR ICE historical prices to predict the future SPDR ICE's volatility.| Risk Adjusted Performance | 0.0136 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.18) | |||
| Treynor Ratio | 0.0288 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR ICE'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.
SPDR ICE Preferred Backtested Returns
SPDR ICE Preferred owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0153, which indicates the etf had a -0.0153% return per unit of volatility over the last 3 months. SPDR ICE Preferred exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SPDR ICE's risk adjusted performance of 0.0136, and Coefficient Of Variation of 4164.83 to confirm the risk estimate we provide. The entity has a beta of 0.0858, which indicates not very significant fluctuations relative to the market. As returns on the market increase, SPDR ICE's returns are expected to increase less than the market. However, during the bear market, the loss of holding SPDR ICE is expected to be smaller as well.
Auto-correlation | -0.41 |
Modest reverse predictability
SPDR ICE Preferred has modest reverse predictability. Overlapping area represents the amount of predictability between SPDR ICE time series from 15th of December 2022 to 10th of December 2023 and 10th of December 2023 to 4th 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 SPDR ICE Preferred price movement. The serial correlation of -0.41 indicates that just about 41.0% of current SPDR ICE price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 1.16 |
SPDR ICE Preferred lagged returns against current returns
Autocorrelation, which is SPDR ICE 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 SPDR ICE's etf expected returns. We can calculate the autocorrelation of SPDR ICE returns to help us make a trade decision. For example, suppose you find that SPDR ICE 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 |
SPDR ICE 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 SPDR ICE etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR ICE etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR ICE etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR ICE Lagged Returns
When evaluating SPDR ICE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR ICE etf have on its future price. SPDR ICE 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, SPDR ICE autocorrelation shows the relationship between SPDR ICE etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR ICE Preferred.
Regressed Prices |
| Timeline |
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SPDR ICE 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.