Fidelity Nasdaq Composite Etf Market Value
| ONEQ Etf | USD 75.23 0.40 0.53% |
| Symbol | Fidelity |
The market value of Fidelity Nasdaq Composite is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Nasdaq's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Nasdaq'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 Fidelity Nasdaq's market value can be influenced by many factors that don't directly affect Fidelity Nasdaq'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 Fidelity Nasdaq's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Nasdaq is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Nasdaq'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.
Fidelity Nasdaq '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 Fidelity Nasdaq'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 Fidelity Nasdaq.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Fidelity Nasdaq on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Fidelity Nasdaq Composite or generate 0.0% return on investment in Fidelity Nasdaq over 720 days. Fidelity Nasdaq is related to or competes with Fidelity MSCI, Fidelity MSCI, Fidelity MSCI, Fidelity MSCI, and First Trust. The fund normally invests at least 80 percent of assets in common stocks included in the index More
Fidelity Nasdaq 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 Fidelity Nasdaq'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 Fidelity Nasdaq Composite upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.34 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 5.37 | |||
| Value At Risk | (2.24) | |||
| Potential Upside | 1.48 |
Fidelity Nasdaq Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Nasdaq's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Nasdaq's standard deviation. In reality, there are many statistical measures that can use Fidelity Nasdaq historical prices to predict the future Fidelity Nasdaq's volatility.| Risk Adjusted Performance | 0.0915 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.1163 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Nasdaq'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.
Fidelity Nasdaq Composite Backtested Returns
Currently, Fidelity Nasdaq Composite is very steady. Fidelity Nasdaq Composite secures Sharpe Ratio (or Efficiency) of 0.11, which denotes the etf had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fidelity Nasdaq Composite, which you can use to evaluate the volatility of the entity. Please confirm Fidelity Nasdaq's Mean Deviation of 0.7466, coefficient of variation of 864.43, and Downside Deviation of 1.34 to check if the risk estimate we provide is consistent with the expected return of 0.13%. The etf shows a Beta (market volatility) of 1.01, which means a somewhat significant risk relative to the market. Fidelity Nasdaq returns are very sensitive to returns on the market. As the market goes up or down, Fidelity Nasdaq is expected to follow.
Auto-correlation | 0.89 |
Very good predictability
Fidelity Nasdaq Composite has very good predictability. Overlapping area represents the amount of predictability between Fidelity Nasdaq time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 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 Fidelity Nasdaq Composite price movement. The serial correlation of 0.89 indicates that approximately 89.0% of current Fidelity Nasdaq price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.89 | |
| Spearman Rank Test | 0.83 | |
| Residual Average | 0.0 | |
| Price Variance | 26.59 |
Fidelity Nasdaq Composite lagged returns against current returns
Autocorrelation, which is Fidelity Nasdaq 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 Fidelity Nasdaq's etf expected returns. We can calculate the autocorrelation of Fidelity Nasdaq returns to help us make a trade decision. For example, suppose you find that Fidelity Nasdaq 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 |
Fidelity Nasdaq 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 Fidelity Nasdaq etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Nasdaq etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Nasdaq etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Nasdaq Lagged Returns
When evaluating Fidelity Nasdaq's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Nasdaq etf have on its future price. Fidelity Nasdaq 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, Fidelity Nasdaq autocorrelation shows the relationship between Fidelity Nasdaq etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Nasdaq Composite.
Regressed Prices |
| Timeline |
Pair Trading with Fidelity Nasdaq
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 Fidelity Nasdaq 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 Fidelity Nasdaq will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 1.0 | VUG | Vanguard Growth Index | PairCorr |
| 1.0 | IWF | iShares Russell 1000 | PairCorr |
| 1.0 | IVW | iShares SP 500 | PairCorr |
| 1.0 | SPYG | SPDR Portfolio SP | PairCorr |
| 1.0 | IUSG | iShares Core SP | PairCorr |
The ability to find closely correlated positions to Fidelity Nasdaq could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Nasdaq 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 Fidelity Nasdaq - 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 Fidelity Nasdaq Composite to buy it.
The correlation of Fidelity Nasdaq 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 Fidelity Nasdaq moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Nasdaq Composite 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 Fidelity Nasdaq 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 Fidelity Nasdaq Correlation, Fidelity Nasdaq Volatility and Fidelity Nasdaq Alpha and Beta module to complement your research on Fidelity Nasdaq. You can also try the Stocks Directory module to find actively traded stocks across global markets.
Fidelity Nasdaq 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.