Microsectors Gold Miners Etf Market Value
| GDXU Etf | USD 36.01 0.35 0.98% |
| Symbol | MicroSectors |
The market value of MicroSectors Gold Miners 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 Gold's value that differs from its market value or its book value, called intrinsic value, which is MicroSectors Gold'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 Gold's market value can be influenced by many factors that don't directly affect MicroSectors Gold'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 Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectors Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectors Gold'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 Gold '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 Gold'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 Gold.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in MicroSectors Gold on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding MicroSectors Gold Miners or generate 0.0% return on investment in MicroSectors Gold over 90 days. MicroSectors Gold is related to or competes with First Trust, Ultimus Managers, Horizon Kinetics, Harbor Health, American Beacon, First Trust, and Direxion Daily. Microsectors Gold is traded on NYSEARCA Exchange in the United States. More
MicroSectors Gold 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 Gold'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 Gold Miners upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 32.9 | |||
| Value At Risk | (9.61) | |||
| Potential Upside | 9.07 |
MicroSectors Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MicroSectors Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MicroSectors Gold's standard deviation. In reality, there are many statistical measures that can use MicroSectors Gold historical prices to predict the future MicroSectors Gold's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (1.19) | |||
| Treynor Ratio | (0.56) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of MicroSectors Gold'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.
MicroSectors Gold Miners Backtested Returns
MicroSectors Gold Miners has Sharpe Ratio of -0.0168, which conveys that the entity had a -0.0168% return per unit of risk over the last 3 months. MicroSectors Gold exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MicroSectors Gold's Standard Deviation of 6.06, mean deviation of 4.69, and Risk Adjusted Performance of (0.02) to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of 0.45, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, MicroSectors Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding MicroSectors Gold is expected to be smaller as well.
Auto-correlation | -0.65 |
Very good reverse predictability
MicroSectors Gold Miners has very good reverse predictability. Overlapping area represents the amount of predictability between MicroSectors Gold time series from 28th of August 2024 to 12th of October 2024 and 12th of October 2024 to 26th 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 Gold Miners price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current MicroSectors Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 80.98 |
MicroSectors Gold Miners lagged returns against current returns
Autocorrelation, which is MicroSectors Gold 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 Gold's etf expected returns. We can calculate the autocorrelation of MicroSectors Gold returns to help us make a trade decision. For example, suppose you find that MicroSectors Gold 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 Gold 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 Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MicroSectors Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MicroSectors Gold etf over time.
Current vs Lagged Prices |
| Timeline |
MicroSectors Gold Lagged Returns
When evaluating MicroSectors Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MicroSectors Gold etf have on its future price. MicroSectors Gold 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 Gold autocorrelation shows the relationship between MicroSectors Gold etf current value and its past values and can show if there is a momentum factor associated with investing in MicroSectors Gold Miners.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out MicroSectors Gold Correlation, MicroSectors Gold Volatility and MicroSectors Gold Alpha and Beta module to complement your research on MicroSectors Gold. 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.
MicroSectors Gold 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.