Advisorshares Psychedelics Etf Market Value
| PSIL Etf | USD 12.18 0.27 2.27% |
| Symbol | AdvisorShares |
The market value of AdvisorShares Psychedelics is measured differently than its book value, which is the value of AdvisorShares that is recorded on the company's balance sheet. Investors also form their own opinion of AdvisorShares Psychedelics' value that differs from its market value or its book value, called intrinsic value, which is AdvisorShares Psychedelics' 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 AdvisorShares Psychedelics' market value can be influenced by many factors that don't directly affect AdvisorShares Psychedelics' 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 AdvisorShares Psychedelics' value and its price as these two are different measures arrived at by different means. Investors typically determine if AdvisorShares Psychedelics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AdvisorShares Psychedelics' 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.
AdvisorShares Psychedelics '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 AdvisorShares Psychedelics' 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 AdvisorShares Psychedelics.
| 11/30/2023 |
| 11/24/2024 |
If you would invest 0.00 in AdvisorShares Psychedelics on November 30, 2023 and sell it all today you would earn a total of 0.00 from holding AdvisorShares Psychedelics ETF or generate 0.0% return on investment in AdvisorShares Psychedelics over 360 days. AdvisorShares Psychedelics is related to or competes with SPDR Kensho, Global X, IShares Genomics, Morningstar Unconstrained, High-yield Municipal, Thrivent High, and Via Renewables. The fund is an actively managed ETF that seeks to achieve its investment objective by investing, under normal circumstan... More
AdvisorShares Psychedelics 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 AdvisorShares Psychedelics' 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 AdvisorShares Psychedelics ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.31 | |||
| Information Ratio | 0.0668 | |||
| Maximum Drawdown | 111.05 | |||
| Value At Risk | (5.43) | |||
| Potential Upside | 3.54 |
AdvisorShares Psychedelics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AdvisorShares Psychedelics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AdvisorShares Psychedelics' standard deviation. In reality, there are many statistical measures that can use AdvisorShares Psychedelics historical prices to predict the future AdvisorShares Psychedelics' volatility.| Risk Adjusted Performance | 0.0686 | |||
| Jensen Alpha | 1.1 | |||
| Total Risk Alpha | (1.03) | |||
| Sortino Ratio | 0.2557 | |||
| Treynor Ratio | (0.89) |
AdvisorShares Psychedelics Backtested Returns
AdvisorShares Psychedelics appears to be unstable, given 3 months investment horizon. AdvisorShares Psychedelics secures Sharpe Ratio (or Efficiency) of 0.0744, which signifies that the etf had a 0.0744% return per unit of risk over the last 3 months. By analyzing AdvisorShares Psychedelics' technical indicators, you can evaluate if the expected return of 0.95% is justified by implied risk. Please makes use of AdvisorShares Psychedelics' Downside Deviation of 3.31, mean deviation of 3.78, and Risk Adjusted Performance of 0.0686 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of -1.08, which signifies a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning AdvisorShares Psychedelics are expected to decrease slowly. On the other hand, during market turmoil, AdvisorShares Psychedelics is expected to outperform it slightly.
Auto-correlation | -0.73 |
Almost perfect reverse predictability
AdvisorShares Psychedelics ETF has almost perfect reverse predictability. Overlapping area represents the amount of predictability between AdvisorShares Psychedelics time series from 30th of November 2023 to 28th of May 2024 and 28th of May 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 AdvisorShares Psychedelics price movement. The serial correlation of -0.73 indicates that around 73.0% of current AdvisorShares Psychedelics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.73 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 3.43 |
AdvisorShares Psychedelics lagged returns against current returns
Autocorrelation, which is AdvisorShares Psychedelics 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 AdvisorShares Psychedelics' etf expected returns. We can calculate the autocorrelation of AdvisorShares Psychedelics returns to help us make a trade decision. For example, suppose you find that AdvisorShares Psychedelics 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 |
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AdvisorShares Psychedelics 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 AdvisorShares Psychedelics etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AdvisorShares Psychedelics etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AdvisorShares Psychedelics etf over time.
Current vs Lagged Prices |
| Timeline |
AdvisorShares Psychedelics Lagged Returns
When evaluating AdvisorShares Psychedelics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AdvisorShares Psychedelics etf have on its future price. AdvisorShares Psychedelics 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, AdvisorShares Psychedelics autocorrelation shows the relationship between AdvisorShares Psychedelics etf current value and its past values and can show if there is a momentum factor associated with investing in AdvisorShares Psychedelics ETF.
Regressed Prices |
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AdvisorShares Psychedelics 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.