Microsectors Gold 3x Etf Market Value
| SHNY Etf | USD 47.11 1.75 3.86% |
| Symbol | Microsectors |
The market value of Microsectors Gold is measured differently than its book value, which is the value of Microsectors that is recorded on the company's balance sheet. Investors also form their own opinion of Microsectors Gold's value that differs from its market value or its book value, called intrinsic value, which is Microsectors Gold'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 Microsectors Gold's market value can be influenced by many factors that don't directly affect Microsectors Gold'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 Microsectors Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if Microsectors Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Microsectors Gold'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.
Microsectors Gold '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 Microsectors Gold'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 Microsectors Gold.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Microsectors Gold on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Microsectors Gold 3x or generate 0.0% return on investment in Microsectors Gold over 30 days. Microsectors Gold is related to or competes with MicroSectors Gold, Direxion Daily, Direxion Daily, UBS ETRACS, and Direxion Daily. The investment seeks daily investment results, before fees and expenses, of 200 percent of the daily performance of the ... More
Microsectors Gold 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 Microsectors Gold'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 Microsectors Gold 3x upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.92 | |||
| Information Ratio | 0.0325 | |||
| Maximum Drawdown | 14.33 | |||
| Value At Risk | (3.65) | |||
| Potential Upside | 4.77 |
Microsectors Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Microsectors Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Microsectors Gold's standard deviation. In reality, there are many statistical measures that can use Microsectors Gold historical prices to predict the future Microsectors Gold's volatility.| Risk Adjusted Performance | 0.0621 | |||
| Jensen Alpha | 0.2167 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0309 | |||
| Treynor Ratio | (0.70) |
Microsectors Gold Backtested Returns
Microsectors Gold appears to be very steady, given 3 months investment horizon. Microsectors Gold has Sharpe Ratio of 0.0928, which conveys that the entity had a 0.0928% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Microsectors Gold, which you can use to evaluate the volatility of the etf. Please exercise Microsectors Gold's Risk Adjusted Performance of 0.0621, downside deviation of 2.92, and Mean Deviation of 2.14 to check out if our risk estimates are consistent with your expectations. The etf secures a Beta (Market Risk) of -0.27, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Microsectors Gold are expected to decrease at a much lower rate. During the bear market, Microsectors Gold is likely to outperform the market.
Auto-correlation | -0.69 |
Very good reverse predictability
Microsectors Gold 3x has very good reverse predictability. Overlapping area represents the amount of predictability between Microsectors Gold time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Microsectors Gold price movement. The serial correlation of -0.69 indicates that around 69.0% of current Microsectors Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 5.1 |
Microsectors Gold lagged returns against current returns
Autocorrelation, which is Microsectors Gold 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 Microsectors Gold's etf expected returns. We can calculate the autocorrelation of Microsectors Gold returns to help us make a trade decision. For example, suppose you find that Microsectors Gold 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 |
Microsectors Gold 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 Microsectors Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Microsectors Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Microsectors Gold etf over time.
Current vs Lagged Prices |
| Timeline |
Microsectors Gold Lagged Returns
When evaluating Microsectors Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Microsectors Gold etf have on its future price. Microsectors Gold 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, Microsectors Gold autocorrelation shows the relationship between Microsectors Gold etf current value and its past values and can show if there is a momentum factor associated with investing in Microsectors Gold 3x.
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 Microsectors Gold offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Microsectors Gold'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 Microsectors Gold 3x Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Microsectors Gold 3x Etf:Check out Microsectors Gold Correlation, Microsectors Gold Volatility and Microsectors Gold Alpha and Beta module to complement your research on Microsectors Gold. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Microsectors Gold 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.