6 Meridian Small Etf Market Value
| SIXS Etf | USD 52.59 0.58 1.12% |
| Symbol | SIXS |
The market value of 6 Meridian Small is measured differently than its book value, which is the value of SIXS that is recorded on the company's balance sheet. Investors also form their own opinion of 6 Meridian's value that differs from its market value or its book value, called intrinsic value, which is 6 Meridian'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 6 Meridian's market value can be influenced by many factors that don't directly affect 6 Meridian'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 6 Meridian's value and its price as these two are different measures arrived at by different means. Investors typically determine if 6 Meridian is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 6 Meridian'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.
6 Meridian '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 6 Meridian'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 6 Meridian.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in 6 Meridian on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding 6 Meridian Small or generate 0.0% return on investment in 6 Meridian over 30 days. 6 Meridian is related to or competes with Invesco PureBeta, Morningstar Unconstrained, High-yield Municipal, Thrivent High, Via Renewables, and T Rowe. Under normal circumstances, the fund invests at least 80 percent of its net assets in small-capitalization equity securi... More
6 Meridian 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 6 Meridian'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 6 Meridian Small upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8422 | |||
| Information Ratio | 0.0032 | |||
| Maximum Drawdown | 6.84 | |||
| Value At Risk | (1.40) | |||
| Potential Upside | 1.84 |
6 Meridian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 6 Meridian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 6 Meridian's standard deviation. In reality, there are many statistical measures that can use 6 Meridian historical prices to predict the future 6 Meridian's volatility.| Risk Adjusted Performance | 0.0924 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0044 | |||
| Treynor Ratio | 0.105 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of 6 Meridian'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.
6 Meridian Small Backtested Returns
Currently, 6 Meridian Small is very steady. 6 Meridian Small secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that the etf had a 0.11% return per unit of risk over the last 3 months. We have found thirty technical indicators for 6 Meridian Small, which you can use to evaluate the volatility of the entity. Please confirm 6 Meridian's coefficient of variation of 861.14, and Mean Deviation of 0.8299 to double-check if the risk estimate we provide is consistent with the expected return of 0.12%. The entity shows a Beta (market volatility) of 1.19, which signifies 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, 6 Meridian will likely underperform.
Auto-correlation | 0.53 |
Modest predictability
6 Meridian Small has modest predictability. Overlapping area represents the amount of predictability between 6 Meridian 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 6 Meridian Small price movement. The serial correlation of 0.53 indicates that about 53.0% of current 6 Meridian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.52 |
6 Meridian Small lagged returns against current returns
Autocorrelation, which is 6 Meridian 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 6 Meridian's etf expected returns. We can calculate the autocorrelation of 6 Meridian returns to help us make a trade decision. For example, suppose you find that 6 Meridian 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 |
6 Meridian 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 6 Meridian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 6 Meridian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 6 Meridian etf over time.
Current vs Lagged Prices |
| Timeline |
6 Meridian Lagged Returns
When evaluating 6 Meridian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 6 Meridian etf have on its future price. 6 Meridian 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, 6 Meridian autocorrelation shows the relationship between 6 Meridian etf current value and its past values and can show if there is a momentum factor associated with investing in 6 Meridian Small.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out 6 Meridian Correlation, 6 Meridian Volatility and 6 Meridian Alpha and Beta module to complement your research on 6 Meridian. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
6 Meridian 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.