Proshares Nanotechnology Etf Market Value
| TINY Etf | USD 46.88 0.08 0.17% |
| Symbol | ProShares |
The market value of ProShares Nanotechnology is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Nanotechnology's value that differs from its market value or its book value, called intrinsic value, which is ProShares Nanotechnology'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 ProShares Nanotechnology's market value can be influenced by many factors that don't directly affect ProShares Nanotechnology'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 ProShares Nanotechnology's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Nanotechnology is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Nanotechnology'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.
ProShares Nanotechnology '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 ProShares Nanotechnology'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 ProShares Nanotechnology.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in ProShares Nanotechnology on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Nanotechnology ETF or generate 0.0% return on investment in ProShares Nanotechnology over 30 days. ProShares Nanotechnology is related to or competes with Vanguard Information, Technology Select, IShares Technology, VanEck Semiconductor, IShares Semiconductor, First Trust, and Fidelity MSCI. The index consists of companies focused on making or applying nanotechnology innovations that allow for improved product... More
ProShares Nanotechnology 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 ProShares Nanotechnology'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 ProShares Nanotechnology ETF upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 9.46 | |||
| Value At Risk | (3.23) | |||
| Potential Upside | 2.45 |
ProShares Nanotechnology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Nanotechnology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Nanotechnology's standard deviation. In reality, there are many statistical measures that can use ProShares Nanotechnology historical prices to predict the future ProShares Nanotechnology's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.29) | |||
| Treynor Ratio | (0.46) |
ProShares Nanotechnology Backtested Returns
At this stage we consider ProShares Etf to be very steady. ProShares Nanotechnology maintains Sharpe Ratio (i.e., Efficiency) of 0.0362, which implies the entity had a 0.0362% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for ProShares Nanotechnology, which you can use to evaluate the volatility of the etf. Please check ProShares Nanotechnology's Risk Adjusted Performance of (0.01), coefficient of variation of (6,345), and Variance of 3.47 to confirm if the risk estimate we provide is consistent with the expected return of 0.0625%. The etf holds a Beta of 0.0862, which implies not very significant fluctuations relative to the market. As returns on the market increase, ProShares Nanotechnology's returns are expected to increase less than the market. However, during the bear market, the loss of holding ProShares Nanotechnology is expected to be smaller as well.
Auto-correlation | -0.31 |
Poor reverse predictability
ProShares Nanotechnology ETF has poor reverse predictability. Overlapping area represents the amount of predictability between ProShares Nanotechnology time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 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 ProShares Nanotechnology price movement. The serial correlation of -0.31 indicates that nearly 31.0% of current ProShares Nanotechnology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.31 | |
| Spearman Rank Test | -0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.71 |
ProShares Nanotechnology lagged returns against current returns
Autocorrelation, which is ProShares Nanotechnology 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 ProShares Nanotechnology's etf expected returns. We can calculate the autocorrelation of ProShares Nanotechnology returns to help us make a trade decision. For example, suppose you find that ProShares Nanotechnology 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 |
ProShares Nanotechnology 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 ProShares Nanotechnology etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Nanotechnology etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Nanotechnology etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Nanotechnology Lagged Returns
When evaluating ProShares Nanotechnology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Nanotechnology etf have on its future price. ProShares Nanotechnology 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, ProShares Nanotechnology autocorrelation shows the relationship between ProShares Nanotechnology etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Nanotechnology ETF.
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.When determining whether ProShares Nanotechnology offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ProShares Nanotechnology's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Proshares Nanotechnology Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Proshares Nanotechnology Etf:Check out ProShares Nanotechnology Correlation, ProShares Nanotechnology Volatility and ProShares Nanotechnology Alpha and Beta module to complement your research on ProShares Nanotechnology. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
ProShares Nanotechnology 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.