Fidelity Covington Trust Etf Statistic Functions Beta
| FEAC Etf | USD 25.48 0.25 0.99% |
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The output start index for this execution was twenty with a total number of output elements of four. The Beta measures systematic risk based on how returns on Fidelity Covington Trust correlated with the market. If Beta is less than 0 Fidelity Covington generally moves in the opposite direction as compared to the market. If Fidelity Covington Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Fidelity Covington Trust is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Fidelity Covington is generally in the same direction as the market. If Beta > 1 Fidelity Covington moves generally in the same direction as, but more than the movement of the benchmark.
Fidelity Covington Technical Analysis Modules
Most technical analysis of Fidelity Covington help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Fidelity from various momentum indicators to cycle indicators. When you analyze Fidelity charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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| Volume Indicators |
About Fidelity Covington Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Fidelity Covington Trust. We use our internally-developed statistical techniques to arrive at the intrinsic value of Fidelity Covington Trust based on widely used predictive technical indicators. In general, we focus on analyzing Fidelity Etf price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Fidelity Covington's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Fidelity Covington's intrinsic value. In addition to deriving basic predictive indicators for Fidelity Covington, we also check how macroeconomic factors affect Fidelity Covington price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Covington Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington'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 Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington'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 Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington'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.