Proshares Ultrashort Oil Etf Market Value
| DUG Etf | USD 34.37 0.14 0.41% |
| Symbol | ProShares |
The market value of ProShares UltraShort Oil is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares UltraShort's value that differs from its market value or its book value, called intrinsic value, which is ProShares UltraShort'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 ProShares UltraShort's market value can be influenced by many factors that don't directly affect ProShares UltraShort'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 ProShares UltraShort's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares UltraShort is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares UltraShort'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.
ProShares UltraShort '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 ProShares UltraShort'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 ProShares UltraShort.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in ProShares UltraShort on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding ProShares UltraShort Oil or generate 0.0% return on investment in ProShares UltraShort over 720 days. ProShares UltraShort is related to or competes with ProShares Ultra, ProShares UltraShort, ProShares UltraShort, ProShares UltraShort, and ProShares UltraShort. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns ... More
ProShares UltraShort 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 ProShares UltraShort'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 ProShares UltraShort Oil upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 13.71 | |||
| Value At Risk | (3.69) | |||
| Potential Upside | 4.05 |
ProShares UltraShort Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares UltraShort's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares UltraShort's standard deviation. In reality, there are many statistical measures that can use ProShares UltraShort historical prices to predict the future ProShares UltraShort's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | 0.0341 | |||
| Total Risk Alpha | (0.51) | |||
| Treynor Ratio | 0.0952 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares UltraShort'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.
ProShares UltraShort Oil Backtested Returns
ProShares UltraShort Oil maintains Sharpe Ratio (i.e., Efficiency) of -0.0488, which implies the entity had a -0.0488% return per unit of risk over the last 3 months. ProShares UltraShort Oil exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check ProShares UltraShort's Variance of 5.89, risk adjusted performance of (0.03), and Coefficient Of Variation of (2,041) to confirm the risk estimate we provide. The etf holds a Beta of -1.35, which implies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning ProShares UltraShort are expected to decrease by larger amounts. On the other hand, during market turmoil, ProShares UltraShort is expected to outperform it.
Auto-correlation | -0.07 |
Very weak reverse predictability
ProShares UltraShort Oil has very weak reverse predictability. Overlapping area represents the amount of predictability between ProShares UltraShort time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 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 ProShares UltraShort Oil price movement. The serial correlation of -0.07 indicates that barely 7.0% of current ProShares UltraShort price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 15.25 |
ProShares UltraShort Oil lagged returns against current returns
Autocorrelation, which is ProShares UltraShort 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 ProShares UltraShort's etf expected returns. We can calculate the autocorrelation of ProShares UltraShort returns to help us make a trade decision. For example, suppose you find that ProShares UltraShort 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 |
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ProShares UltraShort 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 ProShares UltraShort etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares UltraShort etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares UltraShort etf over time.
Current vs Lagged Prices |
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ProShares UltraShort Lagged Returns
When evaluating ProShares UltraShort's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares UltraShort etf have on its future price. ProShares UltraShort 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, ProShares UltraShort autocorrelation shows the relationship between ProShares UltraShort etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares UltraShort Oil.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
When determining whether ProShares UltraShort Oil is a strong investment it is important to analyze ProShares UltraShort's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact ProShares UltraShort's future performance. For an informed investment choice regarding ProShares Etf, refer to the following important reports:Check out ProShares UltraShort Correlation, ProShares UltraShort Volatility and ProShares UltraShort Alpha and Beta module to complement your research on ProShares UltraShort. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
ProShares UltraShort 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.