Proshares Bitcoin Strategy Etf Beta
| BITO Etf | USD 26.43 1.01 3.97% |
ProShares Bitcoin Strategy fundamentals help investors to digest information that contributes to ProShares Bitcoin's financial success or failures. It also enables traders to predict the movement of ProShares Etf. The fundamental analysis module provides a way to measure ProShares Bitcoin's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to ProShares Bitcoin etf.
ProShares |
ProShares Bitcoin Strategy ETF Beta Analysis
ProShares Bitcoin's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
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In accordance with the recently published financial statements, ProShares Bitcoin Strategy has a Beta of 0.0. This indicator is about the same for the ProShares average (which is currently at 0.0) family and about the same as Digital Assets (which currently averages 0.0) category. This indicator is about the same for all United States etfs average (which is currently at 0.0).
ProShares Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses ProShares Bitcoin's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of ProShares Bitcoin could also be used in its relative valuation, which is a method of valuing ProShares Bitcoin by comparing valuation metrics of similar companies.ProShares Bitcoin is currently under evaluation in beta as compared to similar ETFs.
Fund Asset Allocation for ProShares Bitcoin
The fund invests 61.51% of asset under management in tradable equity instruments, with the rest of investments concentrated in various types of exotic instruments.Asset allocation divides ProShares Bitcoin's investment portfolio among different asset categories to balance risk and reward by investing in a diversified mix of instruments that align with the investor's goals, risk tolerance, and time horizon. Mutual funds, which pool money from multiple investors to buy a diversified portfolio of securities, use asset allocation strategies to manage the risk and return of their portfolios.
Mutual funds allocate their assets by investing in a diversified portfolio of securities, such as stocks, bonds, cryptocurrencies and cash. The specific mix of these securities is determined by the fund's investment objective and strategy. For example, a stock mutual fund may invest primarily in equities, while a bond mutual fund may invest mainly in fixed-income securities. The fund's manager, responsible for making investment decisions, will buy and sell securities in the fund's portfolio as market conditions and the fund's objectives change.
ProShares Fundamentals
| Total Asset | 614.68 M | |||
| One Year Return | 132.90 % | |||
| Three Year Return | 11.30 % | |||
| Net Asset | 614.68 M | |||
| Equity Positions Weight | 61.51 % |
About ProShares Bitcoin Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze ProShares Bitcoin Strategy's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of ProShares Bitcoin using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of ProShares Bitcoin Strategy based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with ProShares Bitcoin
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if ProShares Bitcoin position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ProShares Bitcoin will appreciate offsetting losses from the drop in the long position's value.Moving together with ProShares Etf
| 1.0 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.97 | BLOK | Amplify Transformational | PairCorr |
| 0.9 | BLCN | Siren Nasdaq NexGen | PairCorr |
Moving against ProShares Etf
The ability to find closely correlated positions to ProShares Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Bitcoin when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares Bitcoin - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares Bitcoin Strategy to buy it.
The correlation of ProShares Bitcoin is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Bitcoin moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for ProShares Bitcoin can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out ProShares Bitcoin Piotroski F Score and ProShares Bitcoin Altman Z Score analysis. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
The market value of ProShares Bitcoin 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 Bitcoin's value that differs from its market value or its book value, called intrinsic value, which is ProShares Bitcoin'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 Bitcoin's market value can be influenced by many factors that don't directly affect ProShares Bitcoin'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 Bitcoin's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Bitcoin is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Bitcoin'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.