Oppenheimer Russell 2000 Etf Market Value
| OMFS Etf | USD 43.90 0.55 1.27% |
| Symbol | Oppenheimer |
The market value of Oppenheimer Russell 2000 is measured differently than its book value, which is the value of Oppenheimer that is recorded on the company's balance sheet. Investors also form their own opinion of Oppenheimer Russell's value that differs from its market value or its book value, called intrinsic value, which is Oppenheimer Russell'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 Oppenheimer Russell's market value can be influenced by many factors that don't directly affect Oppenheimer Russell'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 Oppenheimer Russell's value and its price as these two are different measures arrived at by different means. Investors typically determine if Oppenheimer Russell is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Oppenheimer Russell'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.
Oppenheimer Russell '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 Oppenheimer Russell'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 Oppenheimer Russell.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Oppenheimer Russell on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Oppenheimer Russell 2000 or generate 0.0% return on investment in Oppenheimer Russell over 30 days. Oppenheimer Russell is related to or competes with Invesco PureBeta, Morningstar Unconstrained, High-yield Municipal, Thrivent High, Via Renewables, and T Rowe. The fund generally will invest at least 80 percent of its total assets in the securities that comprise the underlying in... More
Oppenheimer Russell 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 Oppenheimer Russell'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 Oppenheimer Russell 2000 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.04 | |||
| Information Ratio | 0.0668 | |||
| Maximum Drawdown | 8.4 | |||
| Value At Risk | (1.46) | |||
| Potential Upside | 1.95 |
Oppenheimer Russell Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oppenheimer Russell's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oppenheimer Russell's standard deviation. In reality, there are many statistical measures that can use Oppenheimer Russell historical prices to predict the future Oppenheimer Russell's volatility.| Risk Adjusted Performance | 0.1301 | |||
| Jensen Alpha | 0.0241 | |||
| Total Risk Alpha | (0) | |||
| Sortino Ratio | 0.0866 | |||
| Treynor Ratio | 0.1364 |
Oppenheimer Russell 2000 Backtested Returns
Oppenheimer Russell appears to be very steady, given 3 months investment horizon. Oppenheimer Russell 2000 maintains Sharpe Ratio (i.e., Efficiency) of 0.17, which implies the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Oppenheimer Russell 2000, which you can use to evaluate the volatility of the etf. Please evaluate Oppenheimer Russell's Semi Deviation of 0.7979, coefficient of variation of 609.73, and Risk Adjusted Performance of 0.1301 to confirm if our risk estimates are consistent with your expectations. The etf holds a Beta of 1.54, which implies 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, Oppenheimer Russell will likely underperform.
Auto-correlation | 0.39 |
Below average predictability
Oppenheimer Russell 2000 has below average predictability. Overlapping area represents the amount of predictability between Oppenheimer Russell time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Oppenheimer Russell 2000 price movement. The serial correlation of 0.39 indicates that just about 39.0% of current Oppenheimer Russell price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.39 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.53 |
Oppenheimer Russell 2000 lagged returns against current returns
Autocorrelation, which is Oppenheimer Russell 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 Oppenheimer Russell's etf expected returns. We can calculate the autocorrelation of Oppenheimer Russell returns to help us make a trade decision. For example, suppose you find that Oppenheimer Russell 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 |
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Oppenheimer Russell 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 Oppenheimer Russell etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oppenheimer Russell etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oppenheimer Russell etf over time.
Current vs Lagged Prices |
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Oppenheimer Russell Lagged Returns
When evaluating Oppenheimer Russell's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oppenheimer Russell etf have on its future price. Oppenheimer Russell 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, Oppenheimer Russell autocorrelation shows the relationship between Oppenheimer Russell etf current value and its past values and can show if there is a momentum factor associated with investing in Oppenheimer Russell 2000.
Regressed Prices |
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Thematic Opportunities
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Check out Oppenheimer Russell Correlation, Oppenheimer Russell Volatility and Oppenheimer Russell Alpha and Beta module to complement your research on Oppenheimer Russell. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Oppenheimer Russell 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.