SMI's market value is the price at which a share of SMI trades on a public exchange. It measures the collective expectations of SMI investors about its performance. SMI is trading at 2188.00 as of the 24th of November 2024, a 0.37 percent increase since the beginning of the trading day. The stock's open price was 2180.0. With this module, you can estimate the performance of a buy and hold strategy of SMI and determine expected loss or profit from investing in SMI 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 company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
SMI
SMI '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 SMI's stock 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 SMI.
0.00
11/30/2023
No Change 0.00
0.0
In 11 months and 27 days
11/24/2024
0.00
If you would invest 0.00 in SMI on November 30, 2023 and sell it all today you would earn a total of 0.00 from holding SMI or generate 0.0% return on investment in SMI over 360 days.
SMI 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 SMI's stock 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 SMI 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 SMI's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SMI's standard deviation. In reality, there are many statistical measures that can use SMI historical prices to predict the future SMI's volatility.
SMI owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0156, which indicates the firm had a -0.0156% return per unit of volatility over the last 3 months. SMI exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SMI's variance of 3.48, and Risk Adjusted Performance of (0.01) to confirm the risk estimate we provide. The entity has a beta of -0.15, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SMI are expected to decrease at a much lower rate. During the bear market, SMI is likely to outperform the market. At this point, SMI has a negative expected return of -0.0286%. Please make sure to validate SMI's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if SMI performance from the past will be repeated at future time.
Auto-correlation
-0.52
Good reverse predictability
SMI has good reverse predictability. Overlapping area represents the amount of predictability between SMI 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 SMI price movement. The serial correlation of -0.52 indicates that about 52.0% of current SMI price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.52
Spearman Rank Test
-0.71
Residual Average
0.0
Price Variance
5897.22
SMI lagged returns against current returns
Autocorrelation, which is SMI stock'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 SMI's stock expected returns. We can calculate the autocorrelation of SMI returns to help us make a trade decision. For example, suppose you find that SMI has exhibited high autocorrelation historically, and you observe that the stock 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
SMI 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 SMI stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SMI stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SMI stock over time.
Current vs Lagged Prices
Timeline
SMI Lagged Returns
When evaluating SMI's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SMI stock have on its future price. SMI 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, SMI autocorrelation shows the relationship between SMI stock current value and its past values and can show if there is a momentum factor associated with investing in SMI.
Regressed Prices
Timeline
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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.