Fidelity International Multifactor Etf Market Value
| FDEV Etf | USD 28.02 0.18 0.64% |
| Symbol | Fidelity |
The market value of Fidelity International is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity International's value that differs from its market value or its book value, called intrinsic value, which is Fidelity International'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 Fidelity International's market value can be influenced by many factors that don't directly affect Fidelity International'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 Fidelity International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity International'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.
Fidelity International '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 Fidelity International'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 Fidelity International.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Fidelity International on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity International Multifactor or generate 0.0% return on investment in Fidelity International over 30 days. Fidelity International is related to or competes with Fidelity Emerging, Fidelity Small, Fidelity International, Fidelity International, and Fidelity Momentum. The fund invests at least 80 percent of its assets in securities included in the index and in depositary receipts repres... More
Fidelity International 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 Fidelity International'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 Fidelity International Multifactor upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 2.95 | |||
| Value At Risk | (1.12) | |||
| Potential Upside | 1.02 |
Fidelity International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity International's standard deviation. In reality, there are many statistical measures that can use Fidelity International historical prices to predict the future Fidelity International's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.10) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (0.19) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity International'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.
Fidelity International Backtested Returns
Fidelity International secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the etf had a -0.12% return per unit of risk over the last 3 months. Fidelity International Multifactor exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fidelity International's Variance of 0.3882, mean deviation of 0.4832, and Standard Deviation of 0.6231 to check the risk estimate we provide. The etf shows a Beta (market volatility) of 0.33, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity International is expected to be smaller as well.
Auto-correlation | 0.26 |
Poor predictability
Fidelity International Multifactor has poor predictability. Overlapping area represents the amount of predictability between Fidelity International time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Fidelity International price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Fidelity International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Fidelity International lagged returns against current returns
Autocorrelation, which is Fidelity International 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 Fidelity International's etf expected returns. We can calculate the autocorrelation of Fidelity International returns to help us make a trade decision. For example, suppose you find that Fidelity International 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 |
Fidelity International 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 Fidelity International etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity International etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity International etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity International Lagged Returns
When evaluating Fidelity International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity International etf have on its future price. Fidelity International 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, Fidelity International autocorrelation shows the relationship between Fidelity International etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity International Multifactor.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out Fidelity International Correlation, Fidelity International Volatility and Fidelity International Alpha and Beta module to complement your research on Fidelity International. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Fidelity International 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.