Fidelity Quality Factor Etf Market Value
| FQAL Etf | USD 67.93 0.34 0.50% |
| Symbol | Fidelity |
The market value of Fidelity Quality Factor 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 Quality's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Quality'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 Quality's market value can be influenced by many factors that don't directly affect Fidelity Quality'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 Quality's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Quality is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Quality'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 Quality '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 Quality'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 Quality.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in Fidelity Quality on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding Fidelity Quality Factor or generate 0.0% return on investment in Fidelity Quality over 360 days. Fidelity Quality is related to or competes with Fidelity Low, Fidelity Momentum, Fidelity Value, Fidelity Dividend, and Fidelity High. The fund normally invests at least 80 percent of assets in securities included in the Fidelity U.S More
Fidelity Quality 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 Quality'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 Quality Factor upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7575 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 3.99 | |||
| Value At Risk | (1.36) | |||
| Potential Upside | 1.1 |
Fidelity Quality Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Quality's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Quality's standard deviation. In reality, there are many statistical measures that can use Fidelity Quality historical prices to predict the future Fidelity Quality's volatility.| Risk Adjusted Performance | 0.1176 | |||
| Jensen Alpha | 0.002 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.1302 |
Fidelity Quality Factor Backtested Returns
As of now, Fidelity Etf is very steady. Fidelity Quality Factor secures Sharpe Ratio (or Efficiency) of 0.21, which denotes the etf had a 0.21% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fidelity Quality Factor, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Quality's Coefficient Of Variation of 647.34, downside deviation of 0.7575, and Mean Deviation of 0.5323 to check if the risk estimate we provide is consistent with the expected return of 0.14%. The etf shows a Beta (market volatility) of 0.79, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fidelity Quality's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fidelity Quality is expected to be smaller as well.
Auto-correlation | 0.73 |
Good predictability
Fidelity Quality Factor has good predictability. Overlapping area represents the amount of predictability between Fidelity Quality time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd of December 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 Quality Factor price movement. The serial correlation of 0.73 indicates that around 73.0% of current Fidelity Quality price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 5.31 |
Fidelity Quality Factor lagged returns against current returns
Autocorrelation, which is Fidelity Quality 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 Quality's etf expected returns. We can calculate the autocorrelation of Fidelity Quality returns to help us make a trade decision. For example, suppose you find that Fidelity Quality 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 Quality 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 Quality etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Quality etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Quality etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Quality Lagged Returns
When evaluating Fidelity Quality's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Quality etf have on its future price. Fidelity Quality 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 Quality autocorrelation shows the relationship between Fidelity Quality etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Quality Factor.
Regressed Prices |
| Timeline |
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Fidelity Quality 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.