Altshares Event Driven Etf Market Value
| EVNT Etf | USD 10.67 0.02 0.19% |
| Symbol | AltShares |
The market value of AltShares Event Driven is measured differently than its book value, which is the value of AltShares that is recorded on the company's balance sheet. Investors also form their own opinion of AltShares Event's value that differs from its market value or its book value, called intrinsic value, which is AltShares Event'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 AltShares Event's market value can be influenced by many factors that don't directly affect AltShares Event'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 AltShares Event's value and its price as these two are different measures arrived at by different means. Investors typically determine if AltShares Event is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AltShares Event'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.
AltShares Event '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 AltShares Event'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 AltShares Event.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in AltShares Event on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding AltShares Event Driven ETF or generate 0.0% return on investment in AltShares Event over 30 days. AltShares Event is related to or competes with Formidable ETF, Xtrackers Emerging, and IndexIQ Active. To pursue the funds investment objective, the adviser employs a longshort event-driven strategy, which seeks to profit b... More
AltShares Event 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 AltShares Event'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 AltShares Event Driven ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2591 | |||
| Information Ratio | (0.34) | |||
| Maximum Drawdown | 1.54 | |||
| Value At Risk | (0.28) | |||
| Potential Upside | 0.3839 |
AltShares Event Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AltShares Event's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AltShares Event's standard deviation. In reality, there are many statistical measures that can use AltShares Event historical prices to predict the future AltShares Event's volatility.| Risk Adjusted Performance | 0.1162 | |||
| Jensen Alpha | 0.0119 | |||
| Total Risk Alpha | (0) | |||
| Sortino Ratio | (0.33) | |||
| Treynor Ratio | 0.1829 |
AltShares Event Driven Backtested Returns
Currently, AltShares Event Driven ETF is very steady. AltShares Event Driven secures Sharpe Ratio (or Efficiency) of 0.14, which signifies that the etf had a 0.14% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for AltShares Event Driven ETF, which you can use to evaluate the volatility of the entity. Please confirm AltShares Event's Mean Deviation of 0.1877, coefficient of variation of 561.59, and Risk Adjusted Performance of 0.1162 to double-check if the risk estimate we provide is consistent with the expected return of 0.0323%. The etf shows a Beta (market volatility) of 0.19, which signifies not very significant fluctuations relative to the market. As returns on the market increase, AltShares Event's returns are expected to increase less than the market. However, during the bear market, the loss of holding AltShares Event is expected to be smaller as well.
Auto-correlation | 0.01 |
Virtually no predictability
AltShares Event Driven ETF has virtually no predictability. Overlapping area represents the amount of predictability between AltShares Event time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 AltShares Event Driven price movement. The serial correlation of 0.01 indicates that just 1.0% of current AltShares Event price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.01 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
AltShares Event Driven lagged returns against current returns
Autocorrelation, which is AltShares Event 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 AltShares Event's etf expected returns. We can calculate the autocorrelation of AltShares Event returns to help us make a trade decision. For example, suppose you find that AltShares Event 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 |
AltShares Event 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 AltShares Event etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AltShares Event etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AltShares Event etf over time.
Current vs Lagged Prices |
| Timeline |
AltShares Event Lagged Returns
When evaluating AltShares Event's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AltShares Event etf have on its future price. AltShares Event 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, AltShares Event autocorrelation shows the relationship between AltShares Event etf current value and its past values and can show if there is a momentum factor associated with investing in AltShares Event Driven ETF.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out AltShares Event Correlation, AltShares Event Volatility and AltShares Event Alpha and Beta module to complement your research on AltShares Event. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
AltShares Event 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.