Driven Brands Holdings Etf Market Value
| DRVN Etf | USD 17.04 0.35 2.10% |
| Symbol | Driven |
The market value of Driven Brands Holdings is measured differently than its book value, which is the value of Driven that is recorded on the company's balance sheet. Investors also form their own opinion of Driven Brands' value that differs from its market value or its book value, called intrinsic value, which is Driven Brands' 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 Driven Brands' market value can be influenced by many factors that don't directly affect Driven Brands' 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 Driven Brands' value and its price as these two are different measures arrived at by different means. Investors typically determine if Driven Brands is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Driven Brands' 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.
Driven Brands '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 Driven Brands' 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 Driven Brands.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Driven Brands on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Driven Brands Holdings or generate 0.0% return on investment in Driven Brands over 30 days. Driven Brands is related to or competes with CarGurus, KAR Auction, Kingsway Financial, Group 1, Sonic Automotive, Lithia Motors, and AutoNation. Driven Brands Holdings Inc., together with its subsidiaries, provides automotive services to retail and commercial custo... More
Driven Brands 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 Driven Brands' 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 Driven Brands Holdings upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.16 | |||
| Information Ratio | 0.0719 | |||
| Maximum Drawdown | 10.3 | |||
| Value At Risk | (2.89) | |||
| Potential Upside | 3.66 |
Driven Brands Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Driven Brands' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Driven Brands' standard deviation. In reality, there are many statistical measures that can use Driven Brands historical prices to predict the future Driven Brands' volatility.| Risk Adjusted Performance | 0.1079 | |||
| Jensen Alpha | 0.1034 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0721 | |||
| Treynor Ratio | 0.193 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Driven Brands' 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.
Driven Brands Holdings Backtested Returns
Driven Brands appears to be not too volatile, given 3 months investment horizon. Driven Brands Holdings secures Sharpe Ratio (or Efficiency) of 0.16, which denotes the etf had a 0.16% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Driven Brands Holdings, which you can use to evaluate the volatility of the entity. Please utilize Driven Brands' Mean Deviation of 1.65, coefficient of variation of 755.75, and Downside Deviation of 2.16 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 1.43, which means 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, Driven Brands will likely underperform.
Auto-correlation | -0.28 |
Weak reverse predictability
Driven Brands Holdings has weak reverse predictability. Overlapping area represents the amount of predictability between Driven Brands time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Driven Brands Holdings price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Driven Brands price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Driven Brands Holdings lagged returns against current returns
Autocorrelation, which is Driven Brands 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 Driven Brands' etf expected returns. We can calculate the autocorrelation of Driven Brands returns to help us make a trade decision. For example, suppose you find that Driven Brands 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 |
Driven Brands 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 Driven Brands etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Driven Brands etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Driven Brands etf over time.
Current vs Lagged Prices |
| Timeline |
Driven Brands Lagged Returns
When evaluating Driven Brands' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Driven Brands etf have on its future price. Driven Brands 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, Driven Brands autocorrelation shows the relationship between Driven Brands etf current value and its past values and can show if there is a momentum factor associated with investing in Driven Brands Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Driven Brands
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 Driven Brands 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 Driven Brands will appreciate offsetting losses from the drop in the long position's value.Moving together with Driven Etf
| 0.88 | G | Genpact Limited | PairCorr |
| 0.74 | BR | Broadridge Financial | PairCorr |
| 0.61 | BV | BrightView Holdings | PairCorr |
Moving against Driven Etf
| 0.74 | VCIG | VCI Global Limited | PairCorr |
| 0.73 | MG | Mistras Group | PairCorr |
| 0.64 | VLTO | Veralto | PairCorr |
| 0.48 | FA | First Advantage Corp | PairCorr |
| 0.46 | FC | Franklin Covey | PairCorr |
The ability to find closely correlated positions to Driven Brands could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Driven Brands 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 Driven Brands - 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 Driven Brands Holdings to buy it.
The correlation of Driven Brands 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 Driven Brands moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Driven Brands Holdings 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 Driven Brands 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.Other Information on Investing in Driven Etf
Driven Brands financial ratios help investors to determine whether Driven Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Driven with respect to the benefits of owning Driven Brands security.