Madison Covered Call Etf Market Value
| MCN Etf | USD 7.06 0.03 0.42% |
| Symbol | Madison |
The market value of Madison Covered Call is measured differently than its book value, which is the value of Madison that is recorded on the company's balance sheet. Investors also form their own opinion of Madison Covered's value that differs from its market value or its book value, called intrinsic value, which is Madison Covered'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 Madison Covered's market value can be influenced by many factors that don't directly affect Madison Covered'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 Madison Covered's value and its price as these two are different measures arrived at by different means. Investors typically determine if Madison Covered is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Madison Covered'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.
Madison Covered '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 Madison Covered'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 Madison Covered.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Madison Covered on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding Madison Covered Call or generate 0.0% return on investment in Madison Covered over 60 days. Madison Covered is related to or competes with Eaton Vance, Eaton Vance, Blackrock Muniholdings, DTF Tax, Eaton Vance, Eaton Vance, and Eaton Vance. Madison Covered Call Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, ... More
Madison Covered 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 Madison Covered'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 Madison Covered Call upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7659 | |||
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 3.06 | |||
| Value At Risk | (1.01) | |||
| Potential Upside | 1.15 |
Madison Covered Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Madison Covered's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Madison Covered's standard deviation. In reality, there are many statistical measures that can use Madison Covered historical prices to predict the future Madison Covered's volatility.| Risk Adjusted Performance | 0.0085 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | (0.16) | |||
| Treynor Ratio | (0) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Madison Covered'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.
Madison Covered Call Backtested Returns
As of now, Madison Etf is very steady. Madison Covered Call has Sharpe Ratio of 0.0133, which conveys that the entity had a 0.0133% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Madison Covered, which you can use to evaluate the volatility of the etf. Please verify Madison Covered's Mean Deviation of 0.4994, downside deviation of 0.7659, and Risk Adjusted Performance of 0.0085 to check out if the risk estimate we provide is consistent with the expected return of 0.009%. The etf secures a Beta (Market Risk) of 0.3, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Madison Covered's returns are expected to increase less than the market. However, during the bear market, the loss of holding Madison Covered is expected to be smaller as well.
Auto-correlation | -0.2 |
Insignificant reverse predictability
Madison Covered Call has insignificant reverse predictability. Overlapping area represents the amount of predictability between Madison Covered time series from 27th of September 2024 to 27th of October 2024 and 27th 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 Madison Covered Call price movement. The serial correlation of -0.2 indicates that over 20.0% of current Madison Covered price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.2 | |
| Spearman Rank Test | -0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Madison Covered Call lagged returns against current returns
Autocorrelation, which is Madison Covered 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 Madison Covered's etf expected returns. We can calculate the autocorrelation of Madison Covered returns to help us make a trade decision. For example, suppose you find that Madison Covered 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 |
Madison Covered 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 Madison Covered etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Madison Covered etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Madison Covered etf over time.
Current vs Lagged Prices |
| Timeline |
Madison Covered Lagged Returns
When evaluating Madison Covered's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Madison Covered etf have on its future price. Madison Covered 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, Madison Covered autocorrelation shows the relationship between Madison Covered etf current value and its past values and can show if there is a momentum factor associated with investing in Madison Covered Call.
Regressed Prices |
| Timeline |
Pair Trading with Madison Covered
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 Madison Covered 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 Madison Covered will appreciate offsetting losses from the drop in the long position's value.Moving together with Madison Etf
Moving against Madison Etf
| 0.52 | MSTY | YieldMax MSTR Option | PairCorr |
| 0.49 | PUTW | WisdomTree CBOE SP | PairCorr |
| 0.44 | OEF | iShares SP 100 | PairCorr |
| 0.43 | VONG | Vanguard Russell 1000 | PairCorr |
| 0.43 | XLF | Financial Select Sector Aggressive Push | PairCorr |
The ability to find closely correlated positions to Madison Covered could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Madison Covered 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 Madison Covered - 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 Madison Covered Call to buy it.
The correlation of Madison Covered 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 Madison Covered moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Madison Covered Call 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 Madison Covered 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.Other Information on Investing in Madison Etf
Madison Covered financial ratios help investors to determine whether Madison Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Madison with respect to the benefits of owning Madison Covered security.