516220's market value is the price at which a share of 516220 trades on a public exchange. It measures the collective expectations of 516220 investors about its performance. 516220 is trading at 0.66 as of the 29th of November 2024, a 1.54% up since the beginning of the trading day. The etf's open price was 0.65. With this module, you can estimate the performance of a buy and hold strategy of 516220 and determine expected loss or profit from investing in 516220 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 nation.
Symbol
516220
516220 '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 516220'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 516220.
0.00
06/02/2024
No Change 0.00
0.0
In 5 months and 30 days
11/29/2024
0.00
If you would invest 0.00 in 516220 on June 2, 2024 and sell it all today you would earn a total of 0.00 from holding 516220 or generate 0.0% return on investment in 516220 over 180 days.
516220 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 516220'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 516220 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 516220's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 516220's standard deviation. In reality, there are many statistical measures that can use 516220 historical prices to predict the future 516220's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as 516220. Your research has to be compared to or analyzed against 516220's peers to derive any actionable benefits. When done correctly, 516220's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in 516220.
516220 Backtested Returns
516220 appears to be extremely dangerous, given 3 months investment horizon. 516220 retains Efficiency (Sharpe Ratio) of 0.11, which signifies that the etf had a 0.11% return per unit of price deviation over the last 3 months. We have found twenty-nine technical indicators for 516220, which you can use to evaluate the volatility of the entity. Please makes use of 516220's Market Risk Adjusted Performance of (3.30), coefficient of variation of 875.15, and Standard Deviation of 2.48 to double-check if our risk estimates are consistent with your expectations. The entity owns a Beta (Systematic Risk) of -0.0827, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning 516220 are expected to decrease at a much lower rate. During the bear market, 516220 is likely to outperform the market.
Auto-correlation
-0.75
Almost perfect reverse predictability
516220 has almost perfect reverse predictability. Overlapping area represents the amount of predictability between 516220 time series from 2nd of June 2024 to 31st of August 2024 and 31st of August 2024 to 29th of November 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 516220 price movement. The serial correlation of -0.75 indicates that around 75.0% of current 516220 price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.75
Spearman Rank Test
-0.76
Residual Average
0.0
Price Variance
0.0
516220 lagged returns against current returns
Autocorrelation, which is 516220 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 516220's etf expected returns. We can calculate the autocorrelation of 516220 returns to help us make a trade decision. For example, suppose you find that 516220 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
516220 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 516220 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 516220 etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 516220 etf over time.
Current vs Lagged Prices
Timeline
516220 Lagged Returns
When evaluating 516220's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 516220 etf have on its future price. 516220 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, 516220 autocorrelation shows the relationship between 516220 etf current value and its past values and can show if there is a momentum factor associated with investing in 516220.