Sprott Copper Miners Etf Market Value
| COPP Etf | 23.29 0.20 0.87% |
| Symbol | Sprott |
The market value of Sprott Copper Miners is measured differently than its book value, which is the value of Sprott that is recorded on the company's balance sheet. Investors also form their own opinion of Sprott Copper's value that differs from its market value or its book value, called intrinsic value, which is Sprott Copper'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 Sprott Copper's market value can be influenced by many factors that don't directly affect Sprott Copper'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 Sprott Copper's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sprott Copper is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sprott Copper'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.
Sprott Copper '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 Sprott Copper'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 Sprott Copper.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Sprott Copper on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Sprott Copper Miners or generate 0.0% return on investment in Sprott Copper over 30 days. Sprott Copper is related to or competes with First Trust, Ultimus Managers, Horizon Kinetics, Harbor Health, American Beacon, First Trust, and Direxion Daily. Sprott Copper is entity of United States More
Sprott Copper 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 Sprott Copper'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 Sprott Copper Miners upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.25 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 10.27 | |||
| Value At Risk | (2.89) | |||
| Potential Upside | 3.91 |
Sprott Copper Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sprott Copper's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sprott Copper's standard deviation. In reality, there are many statistical measures that can use Sprott Copper historical prices to predict the future Sprott Copper's volatility.| Risk Adjusted Performance | 0.0071 | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.37) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | (0.01) |
Sprott Copper Miners Backtested Returns
Currently, Sprott Copper Miners is very steady. Sprott Copper Miners owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0424, which indicates the etf had a 0.0424% return per unit of risk over the last 3 months. We have found thirty technical indicators for Sprott Copper Miners, which you can use to evaluate the volatility of the etf. Please validate Sprott Copper's Risk Adjusted Performance of 0.0071, coefficient of variation of 123671.52, and Semi Deviation of 2.21 to confirm if the risk estimate we provide is consistent with the expected return of 0.087%. The entity has a beta of 0.79, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Sprott Copper's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sprott Copper is expected to be smaller as well.
Auto-correlation | 0.29 |
Poor predictability
Sprott Copper Miners has poor predictability. Overlapping area represents the amount of predictability between Sprott Copper time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Sprott Copper Miners price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Sprott Copper price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | -0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Sprott Copper Miners lagged returns against current returns
Autocorrelation, which is Sprott Copper 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 Sprott Copper's etf expected returns. We can calculate the autocorrelation of Sprott Copper returns to help us make a trade decision. For example, suppose you find that Sprott Copper 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 |
Sprott Copper 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 Sprott Copper etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sprott Copper etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sprott Copper etf over time.
Current vs Lagged Prices |
| Timeline |
Sprott Copper Lagged Returns
When evaluating Sprott Copper's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sprott Copper etf have on its future price. Sprott Copper 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, Sprott Copper autocorrelation shows the relationship between Sprott Copper etf current value and its past values and can show if there is a momentum factor associated with investing in Sprott Copper Miners.
Regressed Prices |
| Timeline |
Pair Trading with Sprott Copper
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 Sprott Copper 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 Sprott Copper will appreciate offsetting losses from the drop in the long position's value.Moving together with Sprott Etf
| 0.76 | EV | Mast Global Battery | PairCorr |
| 0.87 | XLB | Materials Select Sector | PairCorr |
| 0.72 | VAW | Vanguard Materials Index | PairCorr |
The ability to find closely correlated positions to Sprott Copper could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sprott Copper 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 Sprott Copper - 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 Sprott Copper Miners to buy it.
The correlation of Sprott Copper 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 Sprott Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Copper Miners 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 Sprott Copper 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 Sprott Copper Correlation, Sprott Copper Volatility and Sprott Copper Alpha and Beta module to complement your research on Sprott Copper. You can also try the CEOs Directory module to screen CEOs from public companies around the world.
Sprott Copper 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.