ACE Short (Korea) Market Value
| 440640 Etf | 108,655 40.00 0.04% |
| Symbol | ACE |
ACE Short '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 ACE Short'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 ACE Short.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in ACE Short on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding ACE Short term or generate 0.0% return on investment in ACE Short over 360 days.
ACE Short 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 ACE Short'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 ACE Short term upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.0217 | |||
| Information Ratio | (6.65) | |||
| Maximum Drawdown | 0.0927 | |||
| Value At Risk | (0.01) | |||
| Potential Upside | 0.0415 |
ACE Short Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ACE Short's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ACE Short's standard deviation. In reality, there are many statistical measures that can use ACE Short historical prices to predict the future ACE Short's volatility.| Risk Adjusted Performance | 0.2152 | |||
| Jensen Alpha | 0.0036 | |||
| Total Risk Alpha | 0.002 | |||
| Sortino Ratio | (5.07) | |||
| Treynor Ratio | 0.5834 |
ACE Short term Backtested Returns
At this point, ACE Short is very steady. ACE Short term secures Sharpe Ratio (or Efficiency) of 0.87, which signifies that the etf had a 0.87% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for ACE Short term, which you can use to evaluate the volatility of the entity. Please confirm ACE Short's mean deviation of 0.0123, and Standard Deviation of 0.0165 to double-check if the risk estimate we provide is consistent with the expected return of 0.015%. The entity shows a Beta (market volatility) of 0.0076, which signifies not very significant fluctuations relative to the market. As returns on the market increase, ACE Short's returns are expected to increase less than the market. However, during the bear market, the loss of holding ACE Short is expected to be smaller as well.
Auto-correlation | 1.00 |
Perfect predictability
ACE Short term has perfect predictability. Overlapping area represents the amount of predictability between ACE Short time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 ACE Short term price movement. The serial correlation of 1.0 indicates that 100.0% of current ACE Short price fluctuation can be explain by its past prices.
| Correlation Coefficient | 1.0 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 302 K |
ACE Short term lagged returns against current returns
Autocorrelation, which is ACE Short 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 ACE Short's etf expected returns. We can calculate the autocorrelation of ACE Short returns to help us make a trade decision. For example, suppose you find that ACE Short 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 |
ACE Short 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 ACE Short etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ACE Short etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ACE Short etf over time.
Current vs Lagged Prices |
| Timeline |
ACE Short Lagged Returns
When evaluating ACE Short's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ACE Short etf have on its future price. ACE Short 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, ACE Short autocorrelation shows the relationship between ACE Short etf current value and its past values and can show if there is a momentum factor associated with investing in ACE Short term.
Regressed Prices |
| Timeline |
Pair Trading with ACE Short
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 ACE Short 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 ACE Short will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to ACE Short could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ACE Short 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 ACE Short - 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 ACE Short term to buy it.
The correlation of ACE Short 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 ACE Short moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ACE Short term 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 ACE Short 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.