Western Asset Premier Etf Market Value
| WEA Etf | USD 10.94 0.02 0.18% |
| Symbol | Western |
The market value of Western Asset Premier is measured differently than its book value, which is the value of Western that is recorded on the company's balance sheet. Investors also form their own opinion of Western Asset's value that differs from its market value or its book value, called intrinsic value, which is Western Asset'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 Western Asset's market value can be influenced by many factors that don't directly affect Western Asset'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 Western Asset's value and its price as these two are different measures arrived at by different means. Investors typically determine if Western Asset is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Western Asset'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.
Western Asset '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 Western Asset'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 Western Asset.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Western Asset on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Western Asset Premier or generate 0.0% return on investment in Western Asset over 30 days. Western Asset is related to or competes with MFS Investment, Platinum Asia, Pimco New, Invesco Pennsylvania, Blackrock Muniholdings, First Trust, and Blackstone Gso. Western Asset Premier Bond Fund is a closed-ended fixed income mutual fund launched and managed by Western Asset Managem... More
Western Asset 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 Western Asset'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 Western Asset Premier upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6288 | |||
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 3.88 | |||
| Value At Risk | (1.00) | |||
| Potential Upside | 1.18 |
Western Asset Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Western Asset's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Western Asset's standard deviation. In reality, there are many statistical measures that can use Western Asset historical prices to predict the future Western Asset's volatility.| Risk Adjusted Performance | 0.0067 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.10) | |||
| Sortino Ratio | (0.21) | |||
| Treynor Ratio | 0.2837 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Western Asset'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.
Western Asset Premier Backtested Returns
At this point, Western Asset is very steady. Western Asset Premier shows Sharpe Ratio of 0.0173, which attests that the etf had a 0.0173% return per unit of risk over the last 3 months. We have found thirty technical indicators for Western Asset Premier, which you can use to evaluate the volatility of the etf. Please check out Western Asset's Downside Deviation of 0.6288, market risk adjusted performance of 0.2937, and Mean Deviation of 0.4115 to validate if the risk estimate we provide is consistent with the expected return of 0.0106%. The entity maintains a market beta of -0.0093, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Western Asset are expected to decrease at a much lower rate. During the bear market, Western Asset is likely to outperform the market.
Auto-correlation | 0.65 |
Good predictability
Western Asset Premier has good predictability. Overlapping area represents the amount of predictability between Western Asset time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 Western Asset Premier price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Western Asset price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Western Asset Premier lagged returns against current returns
Autocorrelation, which is Western Asset 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 Western Asset's etf expected returns. We can calculate the autocorrelation of Western Asset returns to help us make a trade decision. For example, suppose you find that Western Asset 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 |
Western Asset 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 Western Asset etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Western Asset etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Western Asset etf over time.
Current vs Lagged Prices |
| Timeline |
Western Asset Lagged Returns
When evaluating Western Asset's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Western Asset etf have on its future price. Western Asset 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, Western Asset autocorrelation shows the relationship between Western Asset etf current value and its past values and can show if there is a momentum factor associated with investing in Western Asset Premier.
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.Other Information on Investing in Western Etf
Western Asset financial ratios help investors to determine whether Western Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Western with respect to the benefits of owning Western Asset security.