Spdr Galaxy Digital Etf Market Value
| DECO Etf | 38.60 1.54 4.16% |
| Symbol | SPDR |
The market value of SPDR Galaxy Digital is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR Galaxy's value that differs from its market value or its book value, called intrinsic value, which is SPDR Galaxy'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 SPDR Galaxy's market value can be influenced by many factors that don't directly affect SPDR Galaxy'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 SPDR Galaxy's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR Galaxy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR Galaxy'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.
SPDR Galaxy '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 SPDR Galaxy'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 SPDR Galaxy.
| 08/19/2023 |
| 12/11/2024 |
If you would invest 0.00 in SPDR Galaxy on August 19, 2023 and sell it all today you would earn a total of 0.00 from holding SPDR Galaxy Digital or generate 0.0% return on investment in SPDR Galaxy over 480 days. SPDR Galaxy is related to or competes with Freedom Day, Franklin Templeton, IShares MSCI, Tidal Trust, IShares Dividend, Altrius Global, and Invesco Exchange. SPDR Galaxy is entity of United States. It is traded as Etf on NASDAQ exchange. More
SPDR Galaxy 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 SPDR Galaxy'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 SPDR Galaxy Digital upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.66 | |||
| Information Ratio | 0.1609 | |||
| Maximum Drawdown | 19.93 | |||
| Value At Risk | (5.11) | |||
| Potential Upside | 5.42 |
SPDR Galaxy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR Galaxy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR Galaxy's standard deviation. In reality, there are many statistical measures that can use SPDR Galaxy historical prices to predict the future SPDR Galaxy's volatility.| Risk Adjusted Performance | 0.1521 | |||
| Jensen Alpha | 0.3392 | |||
| Total Risk Alpha | 0.1223 | |||
| Sortino Ratio | 0.1938 | |||
| Treynor Ratio | 0.2483 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR Galaxy'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.
SPDR Galaxy Digital Backtested Returns
SPDR Galaxy appears to be not too volatile, given 3 months investment horizon. SPDR Galaxy Digital owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.19, which indicates the etf had a 0.19% return per unit of volatility over the last 3 months. By examining SPDR Galaxy's technical indicators, you can evaluate if the expected return of 0.61% is justified by implied risk. Please review SPDR Galaxy's coefficient of variation of 500.51, and Risk Adjusted Performance of 0.1521 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 2.53, which indicates a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, SPDR Galaxy will likely underperform.
Auto-correlation | 0.00 |
No correlation between past and present
SPDR Galaxy Digital has no correlation between past and present. Overlapping area represents the amount of predictability between SPDR Galaxy time series from 19th of August 2023 to 15th of April 2024 and 15th of April 2024 to 11th 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 SPDR Galaxy Digital price movement. The serial correlation of 0.0 indicates that just 0.0% of current SPDR Galaxy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
SPDR Galaxy Digital lagged returns against current returns
Autocorrelation, which is SPDR Galaxy 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 SPDR Galaxy's etf expected returns. We can calculate the autocorrelation of SPDR Galaxy returns to help us make a trade decision. For example, suppose you find that SPDR Galaxy 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 |
SPDR Galaxy 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 SPDR Galaxy etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR Galaxy etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR Galaxy etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR Galaxy Lagged Returns
When evaluating SPDR Galaxy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR Galaxy etf have on its future price. SPDR Galaxy 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, SPDR Galaxy autocorrelation shows the relationship between SPDR Galaxy etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR Galaxy Digital.
Regressed Prices |
| Timeline |
Pair Trading with SPDR Galaxy
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 SPDR Galaxy 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 SPDR Galaxy will appreciate offsetting losses from the drop in the long position's value.Moving together with SPDR Etf
| 0.91 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.91 | BITO | ProShares Bitcoin | PairCorr |
| 0.94 | BLOK | Amplify Transformational | PairCorr |
| 0.91 | BLCN | Siren Nasdaq NexGen | PairCorr |
Moving against SPDR Etf
The ability to find closely correlated positions to SPDR Galaxy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR Galaxy 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 SPDR Galaxy - 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 SPDR Galaxy Digital to buy it.
The correlation of SPDR Galaxy 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 SPDR Galaxy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Galaxy Digital 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 SPDR Galaxy 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 SPDR Galaxy Correlation, SPDR Galaxy Volatility and SPDR Galaxy Alpha and Beta module to complement your research on SPDR Galaxy. You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
SPDR Galaxy 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.