21Shares Algorand's market value is the price at which a share of 21Shares Algorand trades on a public exchange. It measures the collective expectations of 21Shares Algorand ETP investors about its performance. 21Shares Algorand is trading at 3.77 as of the 2nd of December 2024, a 32.75% increase since the beginning of the trading day. The etf's open price was 2.84. With this module, you can estimate the performance of a buy and hold strategy of 21Shares Algorand ETP and determine expected loss or profit from investing in 21Shares Algorand 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
21Shares
21Shares Algorand '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 21Shares Algorand'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 21Shares Algorand.
0.00
12/13/2022
No Change 0.00
0.0
In 1 year 11 months and 22 days
12/02/2024
0.00
If you would invest 0.00 in 21Shares Algorand on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding 21Shares Algorand ETP or generate 0.0% return on investment in 21Shares Algorand over 720 days.
21Shares Algorand 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 21Shares Algorand'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 21Shares Algorand ETP 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 21Shares Algorand's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 21Shares Algorand's standard deviation. In reality, there are many statistical measures that can use 21Shares Algorand historical prices to predict the future 21Shares Algorand's volatility.
21Shares Algorand is dangerous given 3 months investment horizon. 21Shares Algorand ETP secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the etf had a 0.24% return per unit of risk over the last 3 months. We were able to analyze twenty-nine different technical indicators, which can help you to evaluate if expected returns of 2.23% are justified by taking the suggested risk. Use 21Shares Algorand coefficient of variation of 431.09, and Mean Deviation of 4.79 to evaluate company specific risk that cannot be diversified away. The entity shows a Beta (market volatility) of 0.88, which signifies possible diversification benefits within a given portfolio. 21Shares Algorand returns are very sensitive to returns on the market. As the market goes up or down, 21Shares Algorand is expected to follow.
Auto-correlation
0.55
Modest predictability
21Shares Algorand ETP has modest predictability. Overlapping area represents the amount of predictability between 21Shares Algorand time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 21Shares Algorand ETP price movement. The serial correlation of 0.55 indicates that about 55.0% of current 21Shares Algorand price fluctuation can be explain by its past prices.
Correlation Coefficient
0.55
Spearman Rank Test
0.46
Residual Average
0.0
Price Variance
0.25
21Shares Algorand ETP lagged returns against current returns
Autocorrelation, which is 21Shares Algorand 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 21Shares Algorand's etf expected returns. We can calculate the autocorrelation of 21Shares Algorand returns to help us make a trade decision. For example, suppose you find that 21Shares Algorand 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
21Shares Algorand 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 21Shares Algorand etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 21Shares Algorand etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 21Shares Algorand etf over time.
Current vs Lagged Prices
Timeline
21Shares Algorand Lagged Returns
When evaluating 21Shares Algorand's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 21Shares Algorand etf have on its future price. 21Shares Algorand 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, 21Shares Algorand autocorrelation shows the relationship between 21Shares Algorand etf current value and its past values and can show if there is a momentum factor associated with investing in 21Shares Algorand ETP.
Regressed Prices
Timeline
Also Currently Popular
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.