Fidelity Covington Trust Etf Price on May 24, 2024
| FDRV Etf | USD 13.70 0.04 0.29% |
If you're considering investing in Fidelity Etf, it is important to understand the factors that can impact its price. As of today, the current price of Fidelity Covington stands at 13.70, as last reported on the 28th of November, with the highest price reaching 13.77 and the lowest price hitting 13.63 during the day. At this stage we consider Fidelity Etf to be not too volatile. Fidelity Covington Trust secures Sharpe Ratio (or Efficiency) of 0.0275, which denotes the etf had a 0.0275% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fidelity Covington Trust, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Covington's Mean Deviation of 1.38, coefficient of variation of 3077.79, and Downside Deviation of 1.86 to check if the risk estimate we provide is consistent with the expected return of 0.0474%.
Fidelity Etf price history is provided at the adjusted basis, taking into account all of the recent filings.
Fidelity |
Sharpe Ratio = 0.0275
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| Negative Returns | FDRV |
Estimated Market Risk
| 1.72 actual daily | 15 85% of assets are more volatile |
Expected Return
| 0.05 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| 0.03 actual daily | 2 98% of assets perform better |
Based on monthly moving average Fidelity Covington is performing at about 2% of its full potential. If added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Fidelity Covington by adding it to a well-diversified portfolio.
Average Mkt Cap Mil 16 K |
Fidelity Covington Valuation on May 24, 2024
It is possible to determine the worth of Fidelity Covington on a given historical date. On May 24, 2024 Fidelity was worth 14.06 at the beginning of the trading date compared to the closed value of 14.16. We use multiple weighted factors in our valuation methodologies to arrive at the intrinsic value of Fidelity Covington etf. Still, in general, we apply an absolute valuation method to find Fidelity Covington's value based on its fundamental and technical indicators available within our service. As compared to an absolute model, our relative valuation model uses a comparative analysis of Fidelity Covington where we calculate exposure to its market risk and evaluate relevant financial multiples and ratios against Fidelity Covington's related companies.
| Open | High | Low | Close | Volume | |
| 14.50 | 14.50 | 13.96 | 13.99 | 5,200 | |
05/24/2024 | 14.06 | 14.18 | 14.06 | 14.16 | 10,300 |
| 14.25 | 14.35 | 14.20 | 14.25 | 5,300 |
| Backtest Fidelity Covington | | | Fidelity Covington History | | | Fidelity Covington Valuation | Previous | Next |
Fidelity Covington Trading Date Momentum on May 24, 2024
| On May 28 2024 Fidelity Covington Trust was traded for 14.25 at the closing time. The top price for the day was 14.35 and the lowest listed price was 14.20 . The trading volume for the day was 5.3 K. The trading history from May 28, 2024 was a factor to the next trading day price increase. The overall trading delta against the next closing price was 0.64% . The overall trading delta against the current closing price is 0.64% . |
Fidelity Covington Trust Fundamentals Correlations and Trends
By evaluating Fidelity Covington's financials over time, investors can gain insight into future company performance. However, you can also analyze the published financial statements to find patterns among Fidelity Covington's main balance sheet or income statement drivers and many other relevant indicators that can statistically be found significantly correlated or uncorrelated. Fidelity financial account trend analysis is a perfect complement when working with valuation or volatility modules.About Fidelity Covington Etf history
Fidelity Covington investors dedicate a lot of time and effort to gaining insight into how a market's past behavior relates to its future. Access to timely market data for Fidelity is vital when making an investment decision, and regardless of whether you use fundamental or technical analysis, your return on investment in Fidelity Covington Trust will depend on recognizing future opportunities and eliminating past mistakes. Historical data analysis is the study of market behavior over a given time. Recorded market-related data such as price, volatility, and volume can be quantified and studied over a defined period. Through a detailed examination of a market's past behavior, traders and investors can gain perspective on the inner workings of that market. The information obtained throughout analyzing Fidelity Covington stock prices may prove useful in developing a viable investing in Fidelity Covington
The fund normally invests at least 80 percent of assets in securities included in the index and in depositary receipts representing securities included in the index. Fidelity Electric is traded on BATS Exchange in the United States.
Fidelity Covington Etf Technical Analysis
Fidelity Covington 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.
Price Boundaries
Fidelity Covington Period Price Range
Low | November 28, 2024
| High |
0.00 | 0.00 |
Fidelity Covington Trust cannot be verified against its exchange. Please verify the symbol is currently traded on BATS Exchange. If you still believe the symbol you are trying to look up is valid, please let us know, and we will check it as soon as possible.
Fidelity Covington November 28, 2024 Market Strength
Market strength indicators help investors to evaluate how Fidelity Covington etf reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Fidelity Covington shares will generate the highest return on investment. By undertsting and applying Fidelity Covington etf market strength indicators, traders can identify Fidelity Covington Trust entry and exit signals to maximize returns
Fidelity Covington Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for Fidelity Covington's price direction in advance. Along with the technical and fundamental analysis of Fidelity Etf historical price patterns, it is also worthwhile for investors to track various predictive indicators of Fidelity to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
| Risk Adjusted Performance | 0.0304 | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.0455 |
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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 metropolitan statistical area. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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.