Health Care's market value is the price at which a share of Health Care trades on a public exchange. It measures the collective expectations of Health Care Select investors about its performance. Health Care is enlisted at 1455.50 as of the 25th of November 2024; that is 0.08 percent up since the beginning of the trading day. The index's open price was 1454.27. With this module, you can estimate the performance of a buy and hold strategy of Health Care Select and determine expected loss or profit from investing in Health Care over a given investment horizon. Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any index could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
Health
Health Care '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 Health Care's index 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 Health Care.
0.00
12/06/2022
No Change 0.00
0.0
In 1 year 11 months and 21 days
11/25/2024
0.00
If you would invest 0.00 in Health Care on December 6, 2022 and sell it all today you would earn a total of 0.00 from holding Health Care Select or generate 0.0% return on investment in Health Care over 720 days.
Health Care 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 Health Care's index 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 Health Care Select upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Health Care's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Health Care's standard deviation. In reality, there are many statistical measures that can use Health Care historical prices to predict the future Health Care's volatility.
Health Care Select holds Efficiency (Sharpe) Ratio of -0.17, which attests that the entity had a -0.17% return per unit of standard deviation over the last 3 months. Health Care Select exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. The index retains a Market Volatility (i.e., Beta) of 0.0, which attests to not very significant fluctuations relative to the market. the returns on MARKET and Health Care are completely uncorrelated.
Auto-correlation
-0.42
Modest reverse predictability
Health Care Select has modest reverse predictability. Overlapping area represents the amount of predictability between Health Care time series from 6th of December 2022 to 1st of December 2023 and 1st of December 2023 to 25th 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 Health Care Select price movement. The serial correlation of -0.42 indicates that just about 42.0% of current Health Care price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.42
Spearman Rank Test
-0.26
Residual Average
0.0
Price Variance
3460.13
Health Care Select lagged returns against current returns
Autocorrelation, which is Health Care index'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 Health Care's index expected returns. We can calculate the autocorrelation of Health Care returns to help us make a trade decision. For example, suppose you find that Health Care has exhibited high autocorrelation historically, and you observe that the index 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
Health Care 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 Health Care index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Health Care index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Health Care index over time.
Current vs Lagged Prices
Timeline
Health Care Lagged Returns
When evaluating Health Care's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Health Care index have on its future price. Health Care 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, Health Care autocorrelation shows the relationship between Health Care index current value and its past values and can show if there is a momentum factor associated with investing in Health Care Select.
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.