Axis NIFTY's market value is the price at which a share of Axis NIFTY trades on a public exchange. It measures the collective expectations of Axis NIFTY Bank investors about its performance. Axis NIFTY is selling for 532.41 as of the 29th of November 2024. This is a 0.33 percent increase since the beginning of the trading day. The etf's last reported lowest price was 525.5. With this module, you can estimate the performance of a buy and hold strategy of Axis NIFTY Bank and determine expected loss or profit from investing in Axis NIFTY 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 bureau of labor statistics.
Symbol
Axis
Axis NIFTY '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 Axis NIFTY'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 Axis NIFTY.
0.00
10/30/2024
No Change 0.00
0.0
In 31 days
11/29/2024
0.00
If you would invest 0.00 in Axis NIFTY on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Axis NIFTY Bank or generate 0.0% return on investment in Axis NIFTY over 30 days.
Axis NIFTY 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 Axis NIFTY'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 Axis NIFTY Bank 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 Axis NIFTY's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Axis NIFTY's standard deviation. In reality, there are many statistical measures that can use Axis NIFTY historical prices to predict the future Axis NIFTY's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Axis NIFTY. Your research has to be compared to or analyzed against Axis NIFTY's peers to derive any actionable benefits. When done correctly, Axis NIFTY'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 Axis NIFTY Bank.
Axis NIFTY Bank Backtested Returns
As of now, Axis Etf is very steady. Axis NIFTY Bank secures Sharpe Ratio (or Efficiency) of 0.0376, which signifies that the etf had a 0.0376% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Axis NIFTY Bank, which you can use to evaluate the volatility of the entity. Please confirm Axis NIFTY's Risk Adjusted Performance of 0.0359, downside deviation of 0.9904, and Mean Deviation of 0.6889 to double-check if the risk estimate we provide is consistent with the expected return of 0.0347%. The etf shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Axis NIFTY's returns are expected to increase less than the market. However, during the bear market, the loss of holding Axis NIFTY is expected to be smaller as well.
Auto-correlation
-0.28
Weak reverse predictability
Axis NIFTY Bank has weak reverse predictability. Overlapping area represents the amount of predictability between Axis NIFTY time series from 30th of October 2024 to 14th of November 2024 and 14th of November 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 Axis NIFTY Bank price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Axis NIFTY price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.28
Spearman Rank Test
-0.24
Residual Average
0.0
Price Variance
73.87
Axis NIFTY Bank lagged returns against current returns
Autocorrelation, which is Axis NIFTY 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 Axis NIFTY's etf expected returns. We can calculate the autocorrelation of Axis NIFTY returns to help us make a trade decision. For example, suppose you find that Axis NIFTY 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
Axis NIFTY 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 Axis NIFTY etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Axis NIFTY etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Axis NIFTY etf over time.
Current vs Lagged Prices
Timeline
Axis NIFTY Lagged Returns
When evaluating Axis NIFTY's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Axis NIFTY etf have on its future price. Axis NIFTY 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, Axis NIFTY autocorrelation shows the relationship between Axis NIFTY etf current value and its past values and can show if there is a momentum factor associated with investing in Axis NIFTY Bank.
Regressed Prices
Timeline
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