Microsectorstm Oil Gas Etf Market Value
| OILU Etf | USD 36.52 0.04 0.11% |
| Symbol | MicroSectorsTM |
The market value of MicroSectorsTM Oil Gas is measured differently than its book value, which is the value of MicroSectorsTM that is recorded on the company's balance sheet. Investors also form their own opinion of MicroSectorsTM Oil's value that differs from its market value or its book value, called intrinsic value, which is MicroSectorsTM Oil'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 MicroSectorsTM Oil's market value can be influenced by many factors that don't directly affect MicroSectorsTM Oil'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 MicroSectorsTM Oil's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectorsTM Oil is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectorsTM Oil'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.
MicroSectorsTM Oil '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 MicroSectorsTM Oil'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 MicroSectorsTM Oil.
| 08/30/2024 |
| 11/28/2024 |
If you would invest 0.00 in MicroSectorsTM Oil on August 30, 2024 and sell it all today you would earn a total of 0.00 from holding MicroSectorsTM Oil Gas or generate 0.0% return on investment in MicroSectorsTM Oil over 90 days. MicroSectorsTM Oil is related to or competes with ABIVAX Société, Morningstar Unconstrained, SPACE, Knife River, LiCycle Holdings, Capital Income, and SEI Investments. Microsectors Oil is traded on NYSEARCA Exchange in the United States. More
MicroSectorsTM Oil 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 MicroSectorsTM Oil'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 MicroSectorsTM Oil Gas upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.49 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 17.97 | |||
| Value At Risk | (6.37) | |||
| Potential Upside | 5.3 |
MicroSectorsTM Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MicroSectorsTM Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MicroSectorsTM Oil's standard deviation. In reality, there are many statistical measures that can use MicroSectorsTM Oil historical prices to predict the future MicroSectorsTM Oil's volatility.| Risk Adjusted Performance | 0.0228 | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.55) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0307 |
MicroSectorsTM Oil Gas Backtested Returns
Currently, MicroSectorsTM Oil Gas is not too volatile. MicroSectorsTM Oil Gas has Sharpe Ratio of 0.0241, which conveys that the entity had a 0.0241% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for MicroSectorsTM Oil, which you can use to evaluate the volatility of the etf. Please verify MicroSectorsTM Oil's Mean Deviation of 2.98, risk adjusted performance of 0.0228, and Downside Deviation of 4.49 to check out if the risk estimate we provide is consistent with the expected return of 0.0947%. The etf secures a Beta (Market Risk) of 2.12, which conveys a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, MicroSectorsTM Oil will likely underperform.
Auto-correlation | 0.67 |
Good predictability
MicroSectorsTM Oil Gas has good predictability. Overlapping area represents the amount of predictability between MicroSectorsTM Oil time series from 30th of August 2024 to 14th of October 2024 and 14th of October 2024 to 28th 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 MicroSectorsTM Oil Gas price movement. The serial correlation of 0.67 indicates that around 67.0% of current MicroSectorsTM Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 8.03 |
MicroSectorsTM Oil Gas lagged returns against current returns
Autocorrelation, which is MicroSectorsTM Oil 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 MicroSectorsTM Oil's etf expected returns. We can calculate the autocorrelation of MicroSectorsTM Oil returns to help us make a trade decision. For example, suppose you find that MicroSectorsTM Oil 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 |
MicroSectorsTM Oil 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 MicroSectorsTM Oil etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MicroSectorsTM Oil etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MicroSectorsTM Oil etf over time.
Current vs Lagged Prices |
| Timeline |
MicroSectorsTM Oil Lagged Returns
When evaluating MicroSectorsTM Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MicroSectorsTM Oil etf have on its future price. MicroSectorsTM Oil 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, MicroSectorsTM Oil autocorrelation shows the relationship between MicroSectorsTM Oil etf current value and its past values and can show if there is a momentum factor associated with investing in MicroSectorsTM Oil Gas.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out MicroSectorsTM Oil Correlation, MicroSectorsTM Oil Volatility and MicroSectorsTM Oil Alpha and Beta module to complement your research on MicroSectorsTM Oil. You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
MicroSectorsTM Oil 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.