516770's market value is the price at which a share of 516770 trades on a public exchange. It measures the collective expectations of 516770 investors about its performance. 516770 is trading at 1.01 as of the 21st of January 2025, a 1.00% up since the beginning of the trading day. The etf's open price was 1.0. With this module, you can estimate the performance of a buy and hold strategy of 516770 and determine expected loss or profit from investing in 516770 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
516770
516770 '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 516770'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 516770.
0.00
12/22/2024
No Change 0.00
0.0
In 30 days
01/21/2025
0.00
If you would invest 0.00 in 516770 on December 22, 2024 and sell it all today you would earn a total of 0.00 from holding 516770 or generate 0.0% return on investment in 516770 over 30 days.
516770 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 516770'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 516770 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 516770's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 516770's standard deviation. In reality, there are many statistical measures that can use 516770 historical prices to predict the future 516770's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as 516770. Your research has to be compared to or analyzed against 516770's peers to derive any actionable benefits. When done correctly, 516770'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 516770.
516770 Backtested Returns
516770 retains Efficiency (Sharpe Ratio) of close to zero, which signifies that the etf had a close to zero % return per unit of price deviation over the last 3 months. 516770 exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm 516770's Coefficient Of Variation of 2066.06, standard deviation of 2.62, and Market Risk Adjusted Performance of 0.2357 to double-check the risk estimate we provide. The entity owns a Beta (Systematic Risk) of 0.52, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, 516770's returns are expected to increase less than the market. However, during the bear market, the loss of holding 516770 is expected to be smaller as well.
Auto-correlation
-0.82
Excellent reverse predictability
516770 has excellent reverse predictability. Overlapping area represents the amount of predictability between 516770 time series from 22nd of December 2024 to 6th of January 2025 and 6th of January 2025 to 21st of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of 516770 price movement. The serial correlation of -0.82 indicates that around 82.0% of current 516770 price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.82
Spearman Rank Test
-0.24
Residual Average
0.0
Price Variance
0.0
516770 lagged returns against current returns
Autocorrelation, which is 516770 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 516770's etf expected returns. We can calculate the autocorrelation of 516770 returns to help us make a trade decision. For example, suppose you find that 516770 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
516770 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 516770 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 516770 etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 516770 etf over time.
Current vs Lagged Prices
Timeline
516770 Lagged Returns
When evaluating 516770's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 516770 etf have on its future price. 516770 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, 516770 autocorrelation shows the relationship between 516770 etf current value and its past values and can show if there is a momentum factor associated with investing in 516770.