Pacer Nasdaq International Etf Market Value
| PATN Etf | 19.56 0.09 0.46% |
| Symbol | Pacer |
The market value of Pacer Nasdaq Interna is measured differently than its book value, which is the value of Pacer that is recorded on the company's balance sheet. Investors also form their own opinion of Pacer Nasdaq's value that differs from its market value or its book value, called intrinsic value, which is Pacer 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 Pacer Nasdaq's market value can be influenced by many factors that don't directly affect Pacer 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 Pacer Nasdaq's value and its price as these two are different measures arrived at by different means. Investors typically determine if Pacer Nasdaq is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Pacer 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.
Pacer 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 Pacer 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 Pacer Nasdaq.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in Pacer Nasdaq on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Pacer Nasdaq International or generate 0.0% return on investment in Pacer Nasdaq over 30 days. Pacer Nasdaq is related to or competes with Dimensional Core, Dimensional Emerging, Dimensional Targeted, Dimensional Small, and Dimensional Core. Pacer Nasdaq is entity of United States. It is traded as Etf on NASDAQ exchange. More
Pacer 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 Pacer 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 Pacer Nasdaq International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 6.53 | |||
| Value At Risk | (1.74) | |||
| Potential Upside | 1.7 |
Pacer Nasdaq Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pacer Nasdaq's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pacer Nasdaq's standard deviation. In reality, there are many statistical measures that can use Pacer Nasdaq historical prices to predict the future Pacer Nasdaq's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (0.14) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pacer 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.
Pacer Nasdaq Interna Backtested Returns
Pacer Nasdaq Interna maintains Sharpe Ratio (i.e., Efficiency) of -0.0311, which implies the entity had a -0.0311% return per unit of risk over the last 3 months. Pacer Nasdaq Interna exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Pacer Nasdaq's Coefficient Of Variation of (3,280), risk adjusted performance of (0.02), and Variance of 0.9681 to confirm the risk estimate we provide. The etf holds a Beta of 0.28, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pacer Nasdaq's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pacer Nasdaq is expected to be smaller as well.
Auto-correlation | 0.33 |
Below average predictability
Pacer Nasdaq International has below average predictability. Overlapping area represents the amount of predictability between Pacer Nasdaq time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Pacer Nasdaq Interna price movement. The serial correlation of 0.33 indicates that nearly 33.0% of current Pacer Nasdaq price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.33 | |
| Spearman Rank Test | -0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Pacer Nasdaq Interna lagged returns against current returns
Autocorrelation, which is Pacer 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 Pacer Nasdaq's etf expected returns. We can calculate the autocorrelation of Pacer Nasdaq returns to help us make a trade decision. For example, suppose you find that Pacer 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 |
Pacer 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 Pacer Nasdaq etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pacer Nasdaq etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pacer Nasdaq etf over time.
Current vs Lagged Prices |
| Timeline |
Pacer Nasdaq Lagged Returns
When evaluating Pacer Nasdaq's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pacer Nasdaq etf have on its future price. Pacer 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, Pacer Nasdaq autocorrelation shows the relationship between Pacer Nasdaq etf current value and its past values and can show if there is a momentum factor associated with investing in Pacer Nasdaq International.
Regressed Prices |
| Timeline |
Pair Trading with Pacer 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 Pacer 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 Pacer Nasdaq will appreciate offsetting losses from the drop in the long position's value.Moving together with Pacer Etf
| 0.72 | VEA | Vanguard FTSE Developed | PairCorr |
| 0.7 | IEFA | iShares Core MSCI | PairCorr |
| 0.91 | VEU | Vanguard FTSE All | PairCorr |
| 0.68 | EFA | iShares MSCI EAFE | PairCorr |
| 0.9 | IXUS | iShares Core MSCI | PairCorr |
Moving against Pacer Etf
| 0.44 | NRGU | Bank Of Montreal | PairCorr |
| 0.33 | ATMP | Barclays ETN Select Low Volatility | PairCorr |
| 0.31 | AMZA | InfraCap MLP ETF | PairCorr |
The ability to find closely correlated positions to Pacer 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 Pacer 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 Pacer 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 Pacer Nasdaq International to buy it.
The correlation of Pacer 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 Pacer Nasdaq moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pacer Nasdaq Interna 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 Pacer 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 Pacer Nasdaq Correlation, Pacer Nasdaq Volatility and Pacer Nasdaq Alpha and Beta module to complement your research on Pacer Nasdaq. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Pacer 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.