Spdr Ssga Small Etf Market Value
| SMLV Etf | USD 140.58 1.52 1.09% |
| Symbol | SPDR |
The market value of SPDR SSGA Small is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR SSGA's value that differs from its market value or its book value, called intrinsic value, which is SPDR SSGA'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 SPDR SSGA's market value can be influenced by many factors that don't directly affect SPDR SSGA'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 SPDR SSGA's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR SSGA is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR SSGA'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.
SPDR SSGA '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 SPDR SSGA'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 SPDR SSGA.
| 01/06/2023 |
| 11/26/2024 |
If you would invest 0.00 in SPDR SSGA on January 6, 2023 and sell it all today you would earn a total of 0.00 from holding SPDR SSGA Small or generate 0.0% return on investment in SPDR SSGA over 690 days. SPDR SSGA is related to or competes with SPDR SSGA, Invesco SP, Invesco SP, SPDR MSCI, and SPDR SP. The fund generally invests substantially all, but at least 80, of its total assets in the securities comprising the inde... More
SPDR SSGA 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 SPDR SSGA'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 SPDR SSGA Small upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9849 | |||
| Information Ratio | 0.0449 | |||
| Maximum Drawdown | 11.77 | |||
| Value At Risk | (1.90) | |||
| Potential Upside | 2.22 |
SPDR SSGA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR SSGA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR SSGA's standard deviation. In reality, there are many statistical measures that can use SPDR SSGA historical prices to predict the future SPDR SSGA's volatility.| Risk Adjusted Performance | 0.1019 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.0716 | |||
| Treynor Ratio | 0.1166 |
SPDR SSGA Small Backtested Returns
SPDR SSGA appears to be very steady, given 3 months investment horizon. SPDR SSGA Small owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.13, which indicates the etf had a 0.13% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for SPDR SSGA Small, which you can use to evaluate the volatility of the etf. Please review SPDR SSGA's coefficient of variation of 789.47, and Risk Adjusted Performance of 0.1019 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 1.62, which indicates 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, SPDR SSGA will likely underperform.
Auto-correlation | -0.17 |
Insignificant reverse predictability
SPDR SSGA Small has insignificant reverse predictability. Overlapping area represents the amount of predictability between SPDR SSGA time series from 6th of January 2023 to 17th of December 2023 and 17th of December 2023 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 SPDR SSGA Small price movement. The serial correlation of -0.17 indicates that over 17.0% of current SPDR SSGA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.17 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 93.83 |
SPDR SSGA Small lagged returns against current returns
Autocorrelation, which is SPDR SSGA 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 SPDR SSGA's etf expected returns. We can calculate the autocorrelation of SPDR SSGA returns to help us make a trade decision. For example, suppose you find that SPDR SSGA 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 |
SPDR SSGA 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 SPDR SSGA etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR SSGA etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR SSGA etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR SSGA Lagged Returns
When evaluating SPDR SSGA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR SSGA etf have on its future price. SPDR SSGA 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, SPDR SSGA autocorrelation shows the relationship between SPDR SSGA etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR SSGA Small.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out SPDR SSGA Correlation, SPDR SSGA Volatility and SPDR SSGA Alpha and Beta module to complement your research on SPDR SSGA. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
SPDR SSGA 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.