Overlay Shares Large Etf Market Value
| OVL Etf | USD 48.05 0.18 0.38% |
| Symbol | Overlay |
The market value of Overlay Shares Large is measured differently than its book value, which is the value of Overlay that is recorded on the company's balance sheet. Investors also form their own opinion of Overlay Shares' value that differs from its market value or its book value, called intrinsic value, which is Overlay Shares' 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 Overlay Shares' market value can be influenced by many factors that don't directly affect Overlay Shares' 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 Overlay Shares' value and its price as these two are different measures arrived at by different means. Investors typically determine if Overlay Shares is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Overlay Shares' 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.
Overlay Shares '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 Overlay Shares' 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 Overlay Shares.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Overlay Shares on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Overlay Shares Large or generate 0.0% return on investment in Overlay Shares over 30 days. Overlay Shares is related to or competes with Morningstar Unconstrained, High-yield Municipal, Via Renewables, Knife River, Klckner Co, CarMax, and SEI Investments. The fund is an actively-managed exchange-traded fund that seeks to achieve its objective by investing in one or more oth... More
Overlay Shares 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 Overlay Shares' 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 Overlay Shares Large upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.13 | |||
| Information Ratio | 0.0013 | |||
| Maximum Drawdown | 11.11 | |||
| Value At Risk | (1.70) | |||
| Potential Upside | 1.59 |
Overlay Shares Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Overlay Shares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Overlay Shares' standard deviation. In reality, there are many statistical measures that can use Overlay Shares historical prices to predict the future Overlay Shares' volatility.| Risk Adjusted Performance | 0.0629 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.16) | |||
| Sortino Ratio | 0.0011 | |||
| Treynor Ratio | 0.093 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Overlay Shares' 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.
Overlay Shares Large Backtested Returns
As of now, Overlay Etf is very steady. Overlay Shares Large maintains Sharpe Ratio (i.e., Efficiency) of 0.0738, which implies the entity had a 0.0738% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Overlay Shares Large, which you can use to evaluate the volatility of the etf. Please check Overlay Shares' Coefficient Of Variation of 1340.47, semi deviation of 1.88, and Risk Adjusted Performance of 0.0629 to confirm if the risk estimate we provide is consistent with the expected return of 0.13%. The etf holds a Beta of 1.32, 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, Overlay Shares will likely underperform.
Auto-correlation | 0.49 |
Average predictability
Overlay Shares Large has average predictability. Overlapping area represents the amount of predictability between Overlay Shares 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 Overlay Shares Large price movement. The serial correlation of 0.49 indicates that about 49.0% of current Overlay Shares price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.19 |
Overlay Shares Large lagged returns against current returns
Autocorrelation, which is Overlay Shares 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 Overlay Shares' etf expected returns. We can calculate the autocorrelation of Overlay Shares returns to help us make a trade decision. For example, suppose you find that Overlay Shares 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 |
Overlay Shares 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 Overlay Shares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Overlay Shares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Overlay Shares etf over time.
Current vs Lagged Prices |
| Timeline |
Overlay Shares Lagged Returns
When evaluating Overlay Shares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Overlay Shares etf have on its future price. Overlay Shares 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, Overlay Shares autocorrelation shows the relationship between Overlay Shares etf current value and its past values and can show if there is a momentum factor associated with investing in Overlay Shares Large.
Regressed Prices |
| Timeline |
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Overlay Shares 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.