GraniteShares' market value is the price at which a share of GraniteShares trades on a public exchange. It measures the collective expectations of GraniteShares 3x Short investors about its performance. GraniteShares is selling for under 1.87 as of the 1st of December 2024; that is 2.6% down since the beginning of the trading day. The etf's lowest day price was 1.87. With this module, you can estimate the performance of a buy and hold strategy of GraniteShares 3x Short and determine expected loss or profit from investing in GraniteShares over a given investment horizon. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
GraniteShares
GraniteShares '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 GraniteShares' 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 GraniteShares.
0.00
11/01/2024
No Change 0.00
0.0
In 31 days
12/01/2024
0.00
If you would invest 0.00 in GraniteShares on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding GraniteShares 3x Short or generate 0.0% return on investment in GraniteShares over 30 days.
GraniteShares 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 GraniteShares' 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 GraniteShares 3x Short upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for GraniteShares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GraniteShares' standard deviation. In reality, there are many statistical measures that can use GraniteShares historical prices to predict the future GraniteShares' volatility.
GraniteShares 3x Short holds Efficiency (Sharpe) Ratio of -0.17, which attests that the entity had a -0.17% return per unit of standard deviation over the last 3 months. GraniteShares 3x Short exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out GraniteShares' risk adjusted performance of (0.11), and Market Risk Adjusted Performance of 0.2884 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of -3.05, which attests to a somewhat significant risk relative to the market. As returns on the market increase, returns on owning GraniteShares are expected to decrease by larger amounts. On the other hand, during market turmoil, GraniteShares is expected to outperform it.
Auto-correlation
0.75
Good predictability
GraniteShares 3x Short has good predictability. Overlapping area represents the amount of predictability between GraniteShares time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 GraniteShares 3x Short price movement. The serial correlation of 0.75 indicates that around 75.0% of current GraniteShares price fluctuation can be explain by its past prices.
Correlation Coefficient
0.75
Spearman Rank Test
0.69
Residual Average
0.0
Price Variance
0.01
GraniteShares 3x Short lagged returns against current returns
Autocorrelation, which is GraniteShares 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 GraniteShares' etf expected returns. We can calculate the autocorrelation of GraniteShares returns to help us make a trade decision. For example, suppose you find that GraniteShares 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
GraniteShares 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 GraniteShares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GraniteShares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GraniteShares etf over time.
Current vs Lagged Prices
Timeline
GraniteShares Lagged Returns
When evaluating GraniteShares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GraniteShares etf have on its future price. GraniteShares 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, GraniteShares autocorrelation shows the relationship between GraniteShares etf current value and its past values and can show if there is a momentum factor associated with investing in GraniteShares 3x Short.
Regressed Prices
Timeline
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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.