Gqqq Etf Market Value
| GQQQ Etf | 25.89 0.21 0.82% |
| Symbol | GQQQ |
GQQQ '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 GQQQ'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 GQQQ.
| 09/09/2023 |
| 12/02/2024 |
If you would invest 0.00 in GQQQ on September 9, 2023 and sell it all today you would earn a total of 0.00 from holding GQQQ or generate 0.0% return on investment in GQQQ over 450 days.
GQQQ 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 GQQQ'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 GQQQ upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8122 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 3.81 | |||
| Value At Risk | (1.05) | |||
| Potential Upside | 1.37 |
GQQQ Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GQQQ's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GQQQ's standard deviation. In reality, there are many statistical measures that can use GQQQ historical prices to predict the future GQQQ's volatility.| Risk Adjusted Performance | 0.0813 | |||
| Jensen Alpha | 0.0101 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.1479 |
GQQQ Backtested Returns
Currently, GQQQ is very steady. GQQQ holds Efficiency (Sharpe) Ratio of 0.1, which attests that the entity had a 0.1% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for GQQQ, which you can use to evaluate the volatility of the entity. Please check out GQQQ's market risk adjusted performance of 0.1579, and Risk Adjusted Performance of 0.0813 to validate if the risk estimate we provide is consistent with the expected return of 0.0816%. The etf retains a Market Volatility (i.e., Beta) of 0.5, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, GQQQ's returns are expected to increase less than the market. However, during the bear market, the loss of holding GQQQ is expected to be smaller as well.
Auto-correlation | 0.00 |
No correlation between past and present
GQQQ has no correlation between past and present. Overlapping area represents the amount of predictability between GQQQ time series from 9th of September 2023 to 21st of April 2024 and 21st of April 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 GQQQ price movement. The serial correlation of 0.0 indicates that just 0.0% of current GQQQ price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
GQQQ lagged returns against current returns
Autocorrelation, which is GQQQ 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 GQQQ's etf expected returns. We can calculate the autocorrelation of GQQQ returns to help us make a trade decision. For example, suppose you find that GQQQ 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 |
GQQQ 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 GQQQ etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GQQQ etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GQQQ etf over time.
Current vs Lagged Prices |
| Timeline |
GQQQ Lagged Returns
When evaluating GQQQ's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GQQQ etf have on its future price. GQQQ 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, GQQQ autocorrelation shows the relationship between GQQQ etf current value and its past values and can show if there is a momentum factor associated with investing in GQQQ.
Regressed Prices |
| Timeline |
Pair Trading with GQQQ
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if GQQQ position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in GQQQ will appreciate offsetting losses from the drop in the long position's value.Moving against GQQQ Etf
| 0.55 | VWO | Vanguard FTSE Emerging | PairCorr |
| 0.4 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.33 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.31 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
The ability to find closely correlated positions to GQQQ could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GQQQ when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GQQQ - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GQQQ to buy it.
The correlation of GQQQ is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GQQQ moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GQQQ moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for GQQQ can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.