Spdr Russell 1000 Etf Market Value
| ONEO Etf | USD 128.14 0.41 0.32% |
| Symbol | SPDR |
The market value of SPDR Russell 1000 is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR Russell's value that differs from its market value or its book value, called intrinsic value, which is SPDR 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 SPDR Russell's market value can be influenced by many factors that don't directly affect SPDR 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 SPDR Russell's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR Russell is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR 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.
SPDR 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 SPDR 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 SPDR Russell.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in SPDR Russell on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding SPDR Russell 1000 or generate 0.0% return on investment in SPDR Russell over 180 days. SPDR Russell is related to or competes with IShares Small, Invesco ESG, Invesco ESG, and BlackRock Carbon. Under normal market conditions, the fund generally invests substantially all, but at least 80, of its total assets in th... More
SPDR 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 SPDR 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 SPDR Russell 1000 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7017 | |||
| Information Ratio | 0.0332 | |||
| Maximum Drawdown | 3.63 | |||
| Value At Risk | (0.88) | |||
| Potential Upside | 1.43 |
SPDR Russell Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR Russell's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR Russell's standard deviation. In reality, there are many statistical measures that can use SPDR Russell historical prices to predict the future SPDR Russell's volatility.| Risk Adjusted Performance | 0.1573 | |||
| Jensen Alpha | 0.0548 | |||
| Total Risk Alpha | 0.0206 | |||
| Sortino Ratio | 0.0379 | |||
| Treynor Ratio | 0.1979 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR Russell'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.
SPDR Russell 1000 Backtested Returns
As of now, SPDR Etf is very steady. SPDR Russell 1000 owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.25, which indicates the etf had a 0.25% return per unit of volatility over the last 3 months. We have found twenty-eight technical indicators for SPDR Russell 1000, which you can use to evaluate the volatility of the etf. Please validate SPDR Russell's coefficient of variation of 487.46, and Risk Adjusted Performance of 0.1573 to confirm if the risk estimate we provide is consistent with the expected return of 0.19%. The entity has a beta of 0.78, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, SPDR Russell's returns are expected to increase less than the market. However, during the bear market, the loss of holding SPDR Russell is expected to be smaller as well.
Auto-correlation | 0.68 |
Good predictability
SPDR Russell 1000 has good predictability. Overlapping area represents the amount of predictability between SPDR Russell 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 SPDR Russell 1000 price movement. The serial correlation of 0.68 indicates that around 68.0% of current SPDR Russell price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.68 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 17.08 |
SPDR Russell 1000 lagged returns against current returns
Autocorrelation, which is SPDR 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 SPDR Russell's etf expected returns. We can calculate the autocorrelation of SPDR Russell returns to help us make a trade decision. For example, suppose you find that SPDR 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 |
| Timeline |
SPDR 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 SPDR Russell etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR Russell etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR Russell etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR Russell Lagged Returns
When evaluating SPDR Russell's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR Russell etf have on its future price. SPDR 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, SPDR Russell autocorrelation shows the relationship between SPDR Russell etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR Russell 1000.
Regressed Prices |
| Timeline |
Pair Trading with SPDR Russell
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 SPDR Russell 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 SPDR Russell will appreciate offsetting losses from the drop in the long position's value.Moving together with SPDR Etf
| 0.99 | VO | Vanguard Mid Cap | PairCorr |
| 0.98 | VXF | Vanguard Extended Market | PairCorr |
| 0.99 | IJH | iShares Core SP | PairCorr |
| 0.99 | IWR | iShares Russell Mid | PairCorr |
| 0.99 | MDY | SPDR SP MIDCAP | PairCorr |
Moving against SPDR Etf
| 0.85 | ULE | ProShares Ultra Euro | PairCorr |
| 0.83 | VIIX | VIIX | PairCorr |
| 0.78 | YCL | ProShares Ultra Yen | PairCorr |
| 0.76 | FXY | Invesco CurrencyShares | PairCorr |
The ability to find closely correlated positions to SPDR Russell could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR Russell 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 SPDR Russell - 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 SPDR Russell 1000 to buy it.
The correlation of SPDR Russell 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 SPDR Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Russell 1000 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 SPDR Russell 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 SPDR Russell Correlation, SPDR Russell Volatility and SPDR Russell Alpha and Beta module to complement your research on SPDR Russell. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
SPDR 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.