Vaneck Chinext Etf Market Value
| CNXT Etf | USD 28.59 1.16 3.90% |
| Symbol | VanEck |
The market value of VanEck ChiNext ETF is measured differently than its book value, which is the value of VanEck that is recorded on the company's balance sheet. Investors also form their own opinion of VanEck ChiNext's value that differs from its market value or its book value, called intrinsic value, which is VanEck ChiNext'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 VanEck ChiNext's market value can be influenced by many factors that don't directly affect VanEck ChiNext'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 VanEck ChiNext's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck ChiNext is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck ChiNext'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.
VanEck ChiNext '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 VanEck ChiNext'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 VanEck ChiNext.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in VanEck ChiNext on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding VanEck ChiNext ETF or generate 0.0% return on investment in VanEck ChiNext over 720 days. VanEck ChiNext is related to or competes with Freedom Day, Davis Select, IShares MSCI, SmartETFs Dividend, Listed Funds, IShares MSCI, and Principal Value. The fund normally invests at least 80 percent of its total assets in securities that comprise the funds benchmark index More
VanEck ChiNext 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 VanEck ChiNext'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 VanEck ChiNext ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.84 | |||
| Information Ratio | 0.0983 | |||
| Maximum Drawdown | 42.05 | |||
| Value At Risk | (6.40) | |||
| Potential Upside | 9.45 |
VanEck ChiNext Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck ChiNext's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck ChiNext's standard deviation. In reality, there are many statistical measures that can use VanEck ChiNext historical prices to predict the future VanEck ChiNext's volatility.| Risk Adjusted Performance | 0.1013 | |||
| Jensen Alpha | 0.7594 | |||
| Total Risk Alpha | (0.22) | |||
| Sortino Ratio | 0.1177 | |||
| Treynor Ratio | (1.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck ChiNext's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
VanEck ChiNext ETF Backtested Returns
VanEck ChiNext appears to be not too volatile, given 3 months investment horizon. VanEck ChiNext ETF owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.12, which indicates the etf had a 0.12% return per unit of risk over the last 3 months. By inspecting VanEck ChiNext's technical indicators, you can evaluate if the expected return of 0.72% is justified by implied risk. Please review VanEck ChiNext's Risk Adjusted Performance of 0.1013, coefficient of variation of 827.64, and Semi Deviation of 4.33 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of -0.57, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning VanEck ChiNext are expected to decrease at a much lower rate. During the bear market, VanEck ChiNext is likely to outperform the market.
Auto-correlation | -0.38 |
Poor reverse predictability
VanEck ChiNext ETF has poor reverse predictability. Overlapping area represents the amount of predictability between VanEck ChiNext time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd 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 VanEck ChiNext ETF price movement. The serial correlation of -0.38 indicates that just about 38.0% of current VanEck ChiNext price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 11.51 |
VanEck ChiNext ETF lagged returns against current returns
Autocorrelation, which is VanEck ChiNext 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 VanEck ChiNext's etf expected returns. We can calculate the autocorrelation of VanEck ChiNext returns to help us make a trade decision. For example, suppose you find that VanEck ChiNext 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 |
VanEck ChiNext 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 VanEck ChiNext etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck ChiNext etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck ChiNext etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck ChiNext Lagged Returns
When evaluating VanEck ChiNext's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck ChiNext etf have on its future price. VanEck ChiNext 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, VanEck ChiNext autocorrelation shows the relationship between VanEck ChiNext etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck ChiNext ETF.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out VanEck ChiNext Correlation, VanEck ChiNext Volatility and VanEck ChiNext Alpha and Beta module to complement your research on VanEck ChiNext. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
VanEck ChiNext 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.