Oneascent Core Plus Etf Market Value
| OACP Etf | USD 22.94 0.07 0.31% |
| Symbol | OneAscent |
The market value of OneAscent Core Plus is measured differently than its book value, which is the value of OneAscent that is recorded on the company's balance sheet. Investors also form their own opinion of OneAscent Core's value that differs from its market value or its book value, called intrinsic value, which is OneAscent Core'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 OneAscent Core's market value can be influenced by many factors that don't directly affect OneAscent Core'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 OneAscent Core's value and its price as these two are different measures arrived at by different means. Investors typically determine if OneAscent Core is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OneAscent Core'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.
OneAscent Core '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 OneAscent Core'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 OneAscent Core.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in OneAscent Core on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding OneAscent Core Plus or generate 0.0% return on investment in OneAscent Core over 180 days. OneAscent Core is related to or competes with Listed Funds, PGIM ETF, SSGA Active, JPMorgan Inflation, and SSGA Active. The fund primarily invests in a broad range of investment-grade bonds and fixed-income securities, including, but not li... More
OneAscent Core 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 OneAscent Core'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 OneAscent Core Plus upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.50) | |||
| Maximum Drawdown | 1.18 | |||
| Value At Risk | (0.44) | |||
| Potential Upside | 0.3433 |
OneAscent Core Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for OneAscent Core's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as OneAscent Core's standard deviation. In reality, there are many statistical measures that can use OneAscent Core historical prices to predict the future OneAscent Core's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.06) | |||
| Treynor Ratio | 0.3867 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of OneAscent Core'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.
OneAscent Core Plus Backtested Returns
OneAscent Core Plus maintains Sharpe Ratio (i.e., Efficiency) of -0.0036, which implies the entity had a -0.0036% return per unit of risk over the last 3 months. OneAscent Core Plus exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check OneAscent Core's Risk Adjusted Performance of (0.02), coefficient of variation of (96,151), and Variance of 0.0759 to confirm the risk estimate we provide. The etf holds a Beta of -0.0266, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning OneAscent Core are expected to decrease at a much lower rate. During the bear market, OneAscent Core is likely to outperform the market.
Auto-correlation | -0.8 |
Almost perfect reverse predictability
OneAscent Core Plus has almost perfect reverse predictability. Overlapping area represents the amount of predictability between OneAscent Core time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 OneAscent Core Plus price movement. The serial correlation of -0.8 indicates that around 80.0% of current OneAscent Core price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.8 | |
| Spearman Rank Test | -0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
OneAscent Core Plus lagged returns against current returns
Autocorrelation, which is OneAscent Core 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 OneAscent Core's etf expected returns. We can calculate the autocorrelation of OneAscent Core returns to help us make a trade decision. For example, suppose you find that OneAscent Core 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 |
OneAscent Core 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 OneAscent Core etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if OneAscent Core etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in OneAscent Core etf over time.
Current vs Lagged Prices |
| Timeline |
OneAscent Core Lagged Returns
When evaluating OneAscent Core's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of OneAscent Core etf have on its future price. OneAscent Core 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, OneAscent Core autocorrelation shows the relationship between OneAscent Core etf current value and its past values and can show if there is a momentum factor associated with investing in OneAscent Core Plus.
Regressed Prices |
| Timeline |
Pair Trading with OneAscent Core
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 OneAscent Core 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 OneAscent Core will appreciate offsetting losses from the drop in the long position's value.Moving together with OneAscent Etf
| 1.0 | IUSB | iShares Core Total | PairCorr |
| 0.96 | FIXD | First Trust TCW | PairCorr |
| 0.99 | FBND | Fidelity Total Bond | PairCorr |
| 0.99 | TOTL | SPDR DoubleLine Total | PairCorr |
| 0.99 | HTRB | Hartford Total Return | PairCorr |
Moving against OneAscent Etf
| 0.84 | NVDL | GraniteShares 15x Long | PairCorr |
| 0.84 | NVDX | T Rex 2X | PairCorr |
| 0.84 | NVDU | Direxion Daily NVDA | PairCorr |
| 0.75 | CRPT | First Trust SkyBridge | PairCorr |
| 0.74 | DAPP | VanEck Digital Trans | PairCorr |
The ability to find closely correlated positions to OneAscent Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OneAscent Core 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 OneAscent Core - 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 OneAscent Core Plus to buy it.
The correlation of OneAscent Core 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 OneAscent Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OneAscent Core Plus 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 OneAscent Core 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 OneAscent Core Correlation, OneAscent Core Volatility and OneAscent Core Alpha and Beta module to complement your research on OneAscent Core. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
OneAscent Core 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.