Microsectors Fang Index Etf Market Value
| FNGU Etf | USD 509.00 2.58 0.51% |
| Symbol | MicroSectors |
The market value of MicroSectors FANG Index is measured differently than its book value, which is the value of MicroSectors that is recorded on the company's balance sheet. Investors also form their own opinion of MicroSectors FANG's value that differs from its market value or its book value, called intrinsic value, which is MicroSectors FANG'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 MicroSectors FANG's market value can be influenced by many factors that don't directly affect MicroSectors FANG'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 MicroSectors FANG's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectors FANG is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectors FANG'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.
MicroSectors FANG '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 MicroSectors FANG'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 MicroSectors FANG.
| 06/04/2023 |
| 11/25/2024 |
If you would invest 0.00 in MicroSectors FANG on June 4, 2023 and sell it all today you would earn a total of 0.00 from holding MicroSectors FANG Index or generate 0.0% return on investment in MicroSectors FANG over 540 days. MicroSectors FANG is related to or competes with Direxion Daily, MicroSectors Solactive, MicroSectors FANG, Direxion Daily, and Direxion Daily. The notes are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an... More
MicroSectors FANG 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 MicroSectors FANG'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 MicroSectors FANG Index upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.9 | |||
| Information Ratio | 0.0861 | |||
| Maximum Drawdown | 20.09 | |||
| Value At Risk | (7.85) | |||
| Potential Upside | 7.14 |
MicroSectors FANG Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MicroSectors FANG's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MicroSectors FANG's standard deviation. In reality, there are many statistical measures that can use MicroSectors FANG historical prices to predict the future MicroSectors FANG's volatility.| Risk Adjusted Performance | 0.0977 | |||
| Jensen Alpha | 0.112 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.0753 | |||
| Treynor Ratio | 0.1566 |
MicroSectors FANG Index Backtested Returns
MicroSectors FANG appears to be very steady, given 3 months investment horizon. MicroSectors FANG Index has Sharpe Ratio of 0.12, which conveys that the entity had a 0.12% return per unit of risk over the last 3 months. By analyzing MicroSectors FANG's technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please exercise MicroSectors FANG's Risk Adjusted Performance of 0.0977, downside deviation of 4.9, and Mean Deviation of 3.07 to check out if our risk estimates are consistent with your expectations. The etf secures a Beta (Market Risk) of 3.13, which conveys 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, MicroSectors FANG will likely underperform.
Auto-correlation | 0.42 |
Average predictability
MicroSectors FANG Index has average predictability. Overlapping area represents the amount of predictability between MicroSectors FANG time series from 4th of June 2023 to 29th of February 2024 and 29th of February 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 MicroSectors FANG Index price movement. The serial correlation of 0.42 indicates that just about 42.0% of current MicroSectors FANG price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.42 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 4572.25 |
MicroSectors FANG Index lagged returns against current returns
Autocorrelation, which is MicroSectors FANG 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 MicroSectors FANG's etf expected returns. We can calculate the autocorrelation of MicroSectors FANG returns to help us make a trade decision. For example, suppose you find that MicroSectors FANG 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 |
MicroSectors FANG 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 MicroSectors FANG etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MicroSectors FANG etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MicroSectors FANG etf over time.
Current vs Lagged Prices |
| Timeline |
MicroSectors FANG Lagged Returns
When evaluating MicroSectors FANG's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MicroSectors FANG etf have on its future price. MicroSectors FANG 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, MicroSectors FANG autocorrelation shows the relationship between MicroSectors FANG etf current value and its past values and can show if there is a momentum factor associated with investing in MicroSectors FANG Index.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out MicroSectors FANG Correlation, MicroSectors FANG Volatility and MicroSectors FANG Alpha and Beta module to complement your research on MicroSectors FANG. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
MicroSectors FANG 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.