Virtus Lifesci Biotech Etf Market Value
| BBP Etf | USD 65.86 0.85 1.31% |
| Symbol | Virtus |
The market value of Virtus LifeSci Biotech is measured differently than its book value, which is the value of Virtus that is recorded on the company's balance sheet. Investors also form their own opinion of Virtus LifeSci's value that differs from its market value or its book value, called intrinsic value, which is Virtus LifeSci's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Virtus LifeSci's market value can be influenced by many factors that don't directly affect Virtus LifeSci's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Virtus LifeSci's value and its price as these two are different measures arrived at by different means. Investors typically determine if Virtus LifeSci is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Virtus LifeSci's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Virtus LifeSci '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 Virtus LifeSci'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 Virtus LifeSci.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Virtus LifeSci on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Virtus LifeSci Biotech or generate 0.0% return on investment in Virtus LifeSci over 180 days. Virtus LifeSci is related to or competes with Virtus LifeSci, ALPS Medical, Loncar Cancer, and First Trust. Under normal market conditions, the fund will invest not less than 80 percent of its assets in component securities of t... More
Virtus LifeSci 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 Virtus LifeSci'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 Virtus LifeSci Biotech upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.5 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 6.06 | |||
| Value At Risk | (2.73) | |||
| Potential Upside | 1.93 |
Virtus LifeSci Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Virtus LifeSci's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Virtus LifeSci's standard deviation. In reality, there are many statistical measures that can use Virtus LifeSci historical prices to predict the future Virtus LifeSci's volatility.| Risk Adjusted Performance | 0.0334 | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.16) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0365 |
Virtus LifeSci Biotech Backtested Returns
Currently, Virtus LifeSci Biotech is very steady. Virtus LifeSci Biotech owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0371, which indicates the etf had a 0.0371% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Virtus LifeSci Biotech, which you can use to evaluate the volatility of the etf. Please validate Virtus LifeSci's Risk Adjusted Performance of 0.0334, coefficient of variation of 2622.63, and Semi Deviation of 1.41 to confirm if the risk estimate we provide is consistent with the expected return of 0.0498%. The entity has a beta of 1.11, which indicates a somewhat significant risk relative to the market. Virtus LifeSci returns are very sensitive to returns on the market. As the market goes up or down, Virtus LifeSci is expected to follow.
Auto-correlation | -0.07 |
Very weak reverse predictability
Virtus LifeSci Biotech has very weak reverse predictability. Overlapping area represents the amount of predictability between Virtus LifeSci time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th 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 Virtus LifeSci Biotech price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Virtus LifeSci price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | 0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 2.36 |
Virtus LifeSci Biotech lagged returns against current returns
Autocorrelation, which is Virtus LifeSci 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 Virtus LifeSci's etf expected returns. We can calculate the autocorrelation of Virtus LifeSci returns to help us make a trade decision. For example, suppose you find that Virtus LifeSci 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 |
Virtus LifeSci 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 Virtus LifeSci etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Virtus LifeSci etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Virtus LifeSci etf over time.
Current vs Lagged Prices |
| Timeline |
Virtus LifeSci Lagged Returns
When evaluating Virtus LifeSci's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Virtus LifeSci etf have on its future price. Virtus LifeSci 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, Virtus LifeSci autocorrelation shows the relationship between Virtus LifeSci etf current value and its past values and can show if there is a momentum factor associated with investing in Virtus LifeSci Biotech.
Regressed Prices |
| Timeline |
Pair Trading with Virtus LifeSci
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 Virtus LifeSci 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 Virtus LifeSci will appreciate offsetting losses from the drop in the long position's value.Moving together with Virtus Etf
The ability to find closely correlated positions to Virtus LifeSci could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Virtus LifeSci 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 Virtus LifeSci - 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 Virtus LifeSci Biotech to buy it.
The correlation of Virtus LifeSci 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 Virtus LifeSci moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Virtus LifeSci Biotech 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 Virtus LifeSci 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.Check out Virtus LifeSci Correlation, Virtus LifeSci Volatility and Virtus LifeSci Alpha and Beta module to complement your research on Virtus LifeSci. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Virtus LifeSci technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.