NewWave Platinum's market value is the price at which a share of NewWave Platinum trades on a public exchange. It measures the collective expectations of NewWave Platinum Exchange investors about its performance. NewWave Platinum is trading at 16716.00 as of the 25th of November 2024, a 0.97 percent increase since the beginning of the trading day. The etf's open price was 16555.0. With this module, you can estimate the performance of a buy and hold strategy of NewWave Platinum Exchange and determine expected loss or profit from investing in NewWave Platinum over a given investment horizon. Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.
Symbol
NewWave
NewWave Platinum '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 NewWave Platinum'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 NewWave Platinum.
0.00
10/26/2024
No Change 0.00
0.0
In 31 days
11/25/2024
0.00
If you would invest 0.00 in NewWave Platinum on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding NewWave Platinum Exchange or generate 0.0% return on investment in NewWave Platinum over 30 days.
NewWave Platinum 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 NewWave Platinum'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 NewWave Platinum Exchange upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for NewWave Platinum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NewWave Platinum's standard deviation. In reality, there are many statistical measures that can use NewWave Platinum historical prices to predict the future NewWave Platinum's volatility.
At this point, NewWave Platinum is very steady. NewWave Platinum Exchange has Sharpe Ratio of 0.0294, which conveys that the entity had a 0.0294% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for NewWave Platinum, which you can use to evaluate the volatility of the etf. Please verify NewWave Platinum's Mean Deviation of 0.9293, risk adjusted performance of 0.0368, and Downside Deviation of 1.56 to check out if the risk estimate we provide is consistent with the expected return of 0.0426%. The etf secures a Beta (Market Risk) of 0.11, which conveys not very significant fluctuations relative to the market. As returns on the market increase, NewWave Platinum's returns are expected to increase less than the market. However, during the bear market, the loss of holding NewWave Platinum is expected to be smaller as well.
Auto-correlation
-0.53
Good reverse predictability
NewWave Platinum Exchange has good reverse predictability. Overlapping area represents the amount of predictability between NewWave Platinum 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 NewWave Platinum Exchange price movement. The serial correlation of -0.53 indicates that about 53.0% of current NewWave Platinum price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.53
Spearman Rank Test
-0.75
Residual Average
0.0
Price Variance
31.2 K
NewWave Platinum Exchange lagged returns against current returns
Autocorrelation, which is NewWave Platinum 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 NewWave Platinum's etf expected returns. We can calculate the autocorrelation of NewWave Platinum returns to help us make a trade decision. For example, suppose you find that NewWave Platinum 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
NewWave Platinum 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 NewWave Platinum etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NewWave Platinum etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NewWave Platinum etf over time.
Current vs Lagged Prices
Timeline
NewWave Platinum Lagged Returns
When evaluating NewWave Platinum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NewWave Platinum etf have on its future price. NewWave Platinum 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, NewWave Platinum autocorrelation shows the relationship between NewWave Platinum etf current value and its past values and can show if there is a momentum factor associated with investing in NewWave Platinum Exchange.
Regressed Prices
Timeline
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