Proshares Pet Care Etf Market Value
| PAWZ Etf | USD 57.19 0.06 0.11% |
| Symbol | ProShares |
The market value of ProShares Pet Care is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Pet's value that differs from its market value or its book value, called intrinsic value, which is ProShares Pet'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 ProShares Pet's market value can be influenced by many factors that don't directly affect ProShares Pet'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 ProShares Pet's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Pet is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Pet'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.
ProShares Pet '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 ProShares Pet'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 ProShares Pet.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in ProShares Pet on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding ProShares Pet Care or generate 0.0% return on investment in ProShares Pet over 720 days. ProShares Pet is related to or competes with ProShares Online, VanEck Video, Renaissance IPO, Invesco Dynamic, and Global X. Under normal circumstances, the fund will invest at least 80 percent of its total assets in component securities of the ... More
ProShares Pet 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 ProShares Pet'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 ProShares Pet Care upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8681 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 4.66 | |||
| Value At Risk | (1.49) | |||
| Potential Upside | 1.2 |
ProShares Pet Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Pet's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Pet's standard deviation. In reality, there are many statistical measures that can use ProShares Pet historical prices to predict the future ProShares Pet's volatility.| Risk Adjusted Performance | 0.0067 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | (0.12) | |||
| Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Pet'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.
ProShares Pet Care Backtested Returns
ProShares Pet Care maintains Sharpe Ratio (i.e., Efficiency) of -0.0025, which implies the entity had a -0.0025% return per unit of risk over the last 3 months. ProShares Pet Care exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check ProShares Pet's Risk Adjusted Performance of 0.0067, semi deviation of 0.8511, and Coefficient Of Variation of 14201.66 to confirm the risk estimate we provide. The etf holds a Beta of 0.52, which implies possible diversification benefits within a given portfolio. As returns on the market increase, ProShares Pet's returns are expected to increase less than the market. However, during the bear market, the loss of holding ProShares Pet is expected to be smaller as well.
Auto-correlation | -0.66 |
Very good reverse predictability
ProShares Pet Care has very good reverse predictability. Overlapping area represents the amount of predictability between ProShares Pet time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 to 22nd 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 ProShares Pet Care price movement. The serial correlation of -0.66 indicates that around 66.0% of current ProShares Pet price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.66 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 14.15 |
ProShares Pet Care lagged returns against current returns
Autocorrelation, which is ProShares Pet 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 ProShares Pet's etf expected returns. We can calculate the autocorrelation of ProShares Pet returns to help us make a trade decision. For example, suppose you find that ProShares Pet 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 |
ProShares Pet 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 ProShares Pet etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Pet etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Pet etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Pet Lagged Returns
When evaluating ProShares Pet's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Pet etf have on its future price. ProShares Pet 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, ProShares Pet autocorrelation shows the relationship between ProShares Pet etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Pet Care.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether ProShares Pet Care offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ProShares Pet's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Proshares Pet Care Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Proshares Pet Care Etf:Check out ProShares Pet Correlation, ProShares Pet Volatility and ProShares Pet Alpha and Beta module to complement your research on ProShares Pet. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
ProShares Pet 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.