FNB ETN (South Africa) Market Value
| NFETNQ Etf | 1,708 4.00 0.23% |
| Symbol | FNB |
Please note, there is a significant difference between FNB ETN's value and its price as these two are different measures arrived at by different means. Investors typically determine if FNB ETN is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, FNB ETN'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.
FNB ETN '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 FNB ETN'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 FNB ETN.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in FNB ETN on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding FNB ETN on or generate 0.0% return on investment in FNB ETN over 540 days. FNB ETN is related to or competes with Europa Metals, British Amer, Kap Industrial, Standard Bank, RCL Foods, Blue Label, and Kumba Iron. More
FNB ETN 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 FNB ETN'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 FNB ETN on upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.34 | |||
| Information Ratio | 0.2177 | |||
| Maximum Drawdown | 9.69 | |||
| Value At Risk | (1.93) | |||
| Potential Upside | 3.55 |
FNB ETN Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for FNB ETN's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as FNB ETN's standard deviation. In reality, there are many statistical measures that can use FNB ETN historical prices to predict the future FNB ETN's volatility.| Risk Adjusted Performance | 0.2244 | |||
| Jensen Alpha | 0.5597 | |||
| Total Risk Alpha | 0.2402 | |||
| Sortino Ratio | 0.3016 | |||
| Treynor Ratio | (1.52) |
FNB ETN on Backtested Returns
FNB ETN appears to be very steady, given 3 months investment horizon. FNB ETN on retains Efficiency (Sharpe Ratio) of 0.23, which denotes the etf had a 0.23% return per unit of risk over the last 3 months. We have found thirty technical indicators for FNB ETN, which you can use to evaluate the volatility of the entity. Please utilize FNB ETN's Market Risk Adjusted Performance of (1.51), coefficient of variation of 350.68, and Downside Deviation of 1.34 to check if our risk estimates are consistent with your expectations. The etf owns a Beta (Systematic Risk) of -0.34, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning FNB ETN are expected to decrease at a much lower rate. During the bear market, FNB ETN is likely to outperform the market.
Auto-correlation | 0.76 |
Good predictability
FNB ETN on has good predictability. Overlapping area represents the amount of predictability between FNB ETN time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 FNB ETN on price movement. The serial correlation of 0.76 indicates that around 76.0% of current FNB ETN price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 20.9 K |
FNB ETN on lagged returns against current returns
Autocorrelation, which is FNB ETN 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 FNB ETN's etf expected returns. We can calculate the autocorrelation of FNB ETN returns to help us make a trade decision. For example, suppose you find that FNB ETN 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 |
FNB ETN 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 FNB ETN etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if FNB ETN etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in FNB ETN etf over time.
Current vs Lagged Prices |
| Timeline |
FNB ETN Lagged Returns
When evaluating FNB ETN's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of FNB ETN etf have on its future price. FNB ETN 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, FNB ETN autocorrelation shows the relationship between FNB ETN etf current value and its past values and can show if there is a momentum factor associated with investing in FNB ETN on.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in FNB Etf
FNB ETN financial ratios help investors to determine whether FNB 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 FNB with respect to the benefits of owning FNB ETN security.