Oshares Europe Quality Etf Market Value
| OEUR Etf | USD 28.85 0.10 0.35% |
| Symbol | OShares |
The market value of OShares Europe Quality is measured differently than its book value, which is the value of OShares that is recorded on the company's balance sheet. Investors also form their own opinion of OShares Europe's value that differs from its market value or its book value, called intrinsic value, which is OShares Europe'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 OShares Europe's market value can be influenced by many factors that don't directly affect OShares Europe'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 OShares Europe's value and its price as these two are different measures arrived at by different means. Investors typically determine if OShares Europe is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OShares Europe'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.
OShares Europe '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 OShares Europe'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 OShares Europe.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in OShares Europe on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding OShares Europe Quality or generate 0.0% return on investment in OShares Europe over 90 days. OShares Europe is related to or competes with WisdomTree International, WisdomTree Emerging, and WisdomTree Dynamic. The underlying index is designed to measure the performance of publicly-listed large-capitalization and mid-capitalizati... More
OShares Europe 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 OShares Europe'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 OShares Europe Quality upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.31) | |||
| Maximum Drawdown | 4.46 | |||
| Value At Risk | (1.34) | |||
| Potential Upside | 1.12 |
OShares Europe Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for OShares Europe's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as OShares Europe's standard deviation. In reality, there are many statistical measures that can use OShares Europe historical prices to predict the future OShares Europe's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.36) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of OShares Europe'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.
OShares Europe Quality Backtested Returns
OShares Europe Quality maintains Sharpe Ratio (i.e., Efficiency) of -0.15, which implies the entity had a -0.15% return per unit of risk over the last 3 months. OShares Europe Quality exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check OShares Europe's Risk Adjusted Performance of (0.12), variance of 0.7056, and Coefficient Of Variation of (648.04) to confirm the risk estimate we provide. The etf holds a Beta of 0.39, which implies possible diversification benefits within a given portfolio. As returns on the market increase, OShares Europe's returns are expected to increase less than the market. However, during the bear market, the loss of holding OShares Europe is expected to be smaller as well.
Auto-correlation | -0.09 |
Very weak reverse predictability
OShares Europe Quality has very weak reverse predictability. Overlapping area represents the amount of predictability between OShares Europe time series from 28th of August 2024 to 12th of October 2024 and 12th 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 OShares Europe Quality price movement. The serial correlation of -0.09 indicates that less than 9.0% of current OShares Europe price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.78 |
OShares Europe Quality lagged returns against current returns
Autocorrelation, which is OShares Europe 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 OShares Europe's etf expected returns. We can calculate the autocorrelation of OShares Europe returns to help us make a trade decision. For example, suppose you find that OShares Europe 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 |
OShares Europe 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 OShares Europe etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if OShares Europe etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in OShares Europe etf over time.
Current vs Lagged Prices |
| Timeline |
OShares Europe Lagged Returns
When evaluating OShares Europe's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of OShares Europe etf have on its future price. OShares Europe 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, OShares Europe autocorrelation shows the relationship between OShares Europe etf current value and its past values and can show if there is a momentum factor associated with investing in OShares Europe Quality.
Regressed Prices |
| Timeline |
Pair Trading with OShares Europe
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 OShares Europe 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 OShares Europe will appreciate offsetting losses from the drop in the long position's value.Moving together with OShares Etf
| 1.0 | VGK | Vanguard FTSE Europe | PairCorr |
| 0.98 | EZU | iShares MSCI Eurozone | PairCorr |
| 1.0 | BBEU | JPMorgan BetaBuilders | PairCorr |
| 1.0 | IEUR | iShares Core MSCI | PairCorr |
| 0.97 | FEZ | SPDR EURO STOXX | PairCorr |
Moving against OShares Etf
| 0.87 | ATMP | Barclays ETN Select | PairCorr |
| 0.82 | YCS | ProShares UltraShort Yen | PairCorr |
| 0.78 | TBT | ProShares UltraShort Downward Rally | PairCorr |
| 0.72 | AMZA | InfraCap MLP ETF | PairCorr |
| 0.67 | SGG | Barclays Capital | PairCorr |
The ability to find closely correlated positions to OShares Europe could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OShares Europe 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 OShares Europe - 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 OShares Europe Quality to buy it.
The correlation of OShares Europe 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 OShares Europe moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OShares Europe Quality 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 OShares Europe 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 OShares Europe Correlation, OShares Europe Volatility and OShares Europe Alpha and Beta module to complement your research on OShares Europe. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
OShares Europe 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.