Rivernorthdoubleline Strategic Opportunity Etf Market Value
| OPP Etf | USD 8.45 0.02 0.24% |
| Symbol | RiverNorthDoubleLine |
The market value of RiverNorthDoubleLine is measured differently than its book value, which is the value of RiverNorthDoubleLine that is recorded on the company's balance sheet. Investors also form their own opinion of RiverNorthDoubleLine's value that differs from its market value or its book value, called intrinsic value, which is RiverNorthDoubleLine'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 RiverNorthDoubleLine's market value can be influenced by many factors that don't directly affect RiverNorthDoubleLine'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 RiverNorthDoubleLine's value and its price as these two are different measures arrived at by different means. Investors typically determine if RiverNorthDoubleLine is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, RiverNorthDoubleLine'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.
RiverNorthDoubleLine '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 RiverNorthDoubleLine'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 RiverNorthDoubleLine.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in RiverNorthDoubleLine on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding RiverNorthDoubleLine Strategic Opportunity or generate 0.0% return on investment in RiverNorthDoubleLine over 60 days. RiverNorthDoubleLine is related to or competes with Brookfield Real, Guggenheim Strategic, Cornerstone Strategic, Cornerstone Strategic, Putnam High, Oxford Lane, and Horizon Technology. RiverNorthDoubleLine Strategic Opportunity Fund, Inc More
RiverNorthDoubleLine 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 RiverNorthDoubleLine'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 RiverNorthDoubleLine Strategic Opportunity upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 3.58 | |||
| Value At Risk | (0.90) | |||
| Potential Upside | 1.14 |
RiverNorthDoubleLine Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for RiverNorthDoubleLine's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as RiverNorthDoubleLine's standard deviation. In reality, there are many statistical measures that can use RiverNorthDoubleLine historical prices to predict the future RiverNorthDoubleLine's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | (0.11) |
RiverNorthDoubleLine Backtested Returns
RiverNorthDoubleLine maintains Sharpe Ratio (i.e., Efficiency) of -0.0421, which implies the entity had a -0.0421% return per unit of risk over the last 3 months. RiverNorthDoubleLine exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check RiverNorthDoubleLine's Risk Adjusted Performance of (0.02), variance of 0.3914, and Coefficient Of Variation of (4,442) to confirm the risk estimate we provide. The etf holds a Beta of 0.21, which implies not very significant fluctuations relative to the market. As returns on the market increase, RiverNorthDoubleLine's returns are expected to increase less than the market. However, during the bear market, the loss of holding RiverNorthDoubleLine is expected to be smaller as well.
Auto-correlation | 0.53 |
Modest predictability
RiverNorthDoubleLine Strategic Opportunity has modest predictability. Overlapping area represents the amount of predictability between RiverNorthDoubleLine time series from 27th of September 2024 to 27th of October 2024 and 27th 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 RiverNorthDoubleLine price movement. The serial correlation of 0.53 indicates that about 53.0% of current RiverNorthDoubleLine price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
RiverNorthDoubleLine lagged returns against current returns
Autocorrelation, which is RiverNorthDoubleLine 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 RiverNorthDoubleLine's etf expected returns. We can calculate the autocorrelation of RiverNorthDoubleLine returns to help us make a trade decision. For example, suppose you find that RiverNorthDoubleLine 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 |
RiverNorthDoubleLine 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 RiverNorthDoubleLine etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if RiverNorthDoubleLine etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in RiverNorthDoubleLine etf over time.
Current vs Lagged Prices |
| Timeline |
RiverNorthDoubleLine Lagged Returns
When evaluating RiverNorthDoubleLine's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of RiverNorthDoubleLine etf have on its future price. RiverNorthDoubleLine 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, RiverNorthDoubleLine autocorrelation shows the relationship between RiverNorthDoubleLine etf current value and its past values and can show if there is a momentum factor associated with investing in RiverNorthDoubleLine Strategic Opportunity.
Regressed Prices |
| Timeline |
Pair Trading with RiverNorthDoubleLine
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 RiverNorthDoubleLine 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 RiverNorthDoubleLine will appreciate offsetting losses from the drop in the long position's value.Moving against RiverNorthDoubleLine Etf
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The ability to find closely correlated positions to RiverNorthDoubleLine could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RiverNorthDoubleLine 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 RiverNorthDoubleLine - 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 RiverNorthDoubleLine Strategic Opportunity to buy it.
The correlation of RiverNorthDoubleLine 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 RiverNorthDoubleLine moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RiverNorthDoubleLine 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 RiverNorthDoubleLine 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.Other Information on Investing in RiverNorthDoubleLine Etf
RiverNorthDoubleLine financial ratios help investors to determine whether RiverNorthDoubleLine Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in RiverNorthDoubleLine with respect to the benefits of owning RiverNorthDoubleLine security.