Iq Mackay Municipal Etf Market Value
| MMIN Etf | USD 24.19 0.03 0.12% |
| Symbol | MMIN |
The market value of IQ MacKay Municipal is measured differently than its book value, which is the value of MMIN that is recorded on the company's balance sheet. Investors also form their own opinion of IQ MacKay's value that differs from its market value or its book value, called intrinsic value, which is IQ MacKay'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 IQ MacKay's market value can be influenced by many factors that don't directly affect IQ MacKay'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 IQ MacKay's value and its price as these two are different measures arrived at by different means. Investors typically determine if IQ MacKay is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IQ MacKay'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.
IQ MacKay '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 IQ MacKay'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 IQ MacKay.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in IQ MacKay on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding IQ MacKay Municipal or generate 0.0% return on investment in IQ MacKay over 30 days. IQ MacKay is related to or competes with Franklin Liberty, Hartford Municipal, and IQ MacKay. The fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index More
IQ MacKay 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 IQ MacKay'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 IQ MacKay Municipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3412 | |||
| Information Ratio | (0.38) | |||
| Maximum Drawdown | 1.99 | |||
| Value At Risk | (0.29) | |||
| Potential Upside | 0.4996 |
IQ MacKay Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IQ MacKay's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IQ MacKay's standard deviation. In reality, there are many statistical measures that can use IQ MacKay historical prices to predict the future IQ MacKay's volatility.| Risk Adjusted Performance | 0.004 | |||
| Jensen Alpha | 0.0147 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.36) | |||
| Treynor Ratio | 0.018 |
IQ MacKay Municipal Backtested Returns
As of now, MMIN Etf is very steady. IQ MacKay Municipal retains Efficiency (Sharpe Ratio) of 0.0252, which attests that the entity had a 0.0252% return per unit of price deviation over the last 3 months. We have found thirty technical indicators for IQ MacKay, which you can use to evaluate the volatility of the entity. Please check out IQ MacKay's Semi Deviation of 0.3057, market risk adjusted performance of 0.028, and Standard Deviation of 0.3259 to validate if the risk estimate we provide is consistent with the expected return of 0.0083%. The etf owns a Beta (Systematic Risk) of -0.14, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning IQ MacKay are expected to decrease at a much lower rate. During the bear market, IQ MacKay is likely to outperform the market.
Auto-correlation | 0.03 |
Virtually no predictability
IQ MacKay Municipal has virtually no predictability. Overlapping area represents the amount of predictability between IQ MacKay time series from 26th of October 2024 to 10th of November 2024 and 10th of November 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 IQ MacKay Municipal price movement. The serial correlation of 0.03 indicates that only 3.0% of current IQ MacKay price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
IQ MacKay Municipal lagged returns against current returns
Autocorrelation, which is IQ MacKay 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 IQ MacKay's etf expected returns. We can calculate the autocorrelation of IQ MacKay returns to help us make a trade decision. For example, suppose you find that IQ MacKay 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 |
IQ MacKay 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 IQ MacKay etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IQ MacKay etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IQ MacKay etf over time.
Current vs Lagged Prices |
| Timeline |
IQ MacKay Lagged Returns
When evaluating IQ MacKay's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IQ MacKay etf have on its future price. IQ MacKay 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, IQ MacKay autocorrelation shows the relationship between IQ MacKay etf current value and its past values and can show if there is a momentum factor associated with investing in IQ MacKay Municipal.
Regressed Prices |
| Timeline |
Pair Trading with IQ MacKay
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 IQ MacKay 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 IQ MacKay will appreciate offsetting losses from the drop in the long position's value.Moving together with MMIN Etf
| 0.95 | TFI | SPDR Nuveen Bloomberg | PairCorr |
| 0.97 | PZA | Invesco National AMT | PairCorr |
| 0.97 | MLN | VanEck Long Muni | PairCorr |
| 0.94 | RVNU | Xtrackers Municipal | PairCorr |
Moving against MMIN Etf
The ability to find closely correlated positions to IQ MacKay could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IQ MacKay 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 IQ MacKay - 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 IQ MacKay Municipal to buy it.
The correlation of IQ MacKay 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 IQ MacKay moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IQ MacKay Municipal 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 IQ MacKay 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.Check out IQ MacKay Correlation, IQ MacKay Volatility and IQ MacKay Alpha and Beta module to complement your research on IQ MacKay. You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
IQ MacKay 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.