Defiance Daily Target Etf Market Value
| SMST Etf | 6.11 0.05 0.83% |
| Symbol | Defiance |
The market value of Defiance Daily Target is measured differently than its book value, which is the value of Defiance that is recorded on the company's balance sheet. Investors also form their own opinion of Defiance Daily's value that differs from its market value or its book value, called intrinsic value, which is Defiance Daily'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 Defiance Daily's market value can be influenced by many factors that don't directly affect Defiance Daily'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 Defiance Daily's value and its price as these two are different measures arrived at by different means. Investors typically determine if Defiance Daily is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Defiance Daily'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.
Defiance Daily '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 Defiance Daily'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 Defiance Daily.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Defiance Daily on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Defiance Daily Target or generate 0.0% return on investment in Defiance Daily over 30 days. Defiance Daily is related to or competes with ProShares UltraPro, and ProShares Short. Defiance Daily is entity of United States More
Defiance Daily 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 Defiance Daily'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 Defiance Daily Target upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 15.42 | |||
| Information Ratio | 0.0324 | |||
| Maximum Drawdown | 296.34 | |||
| Value At Risk | (23.60) | |||
| Potential Upside | 16.5 |
Defiance Daily Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Defiance Daily's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Defiance Daily's standard deviation. In reality, there are many statistical measures that can use Defiance Daily historical prices to predict the future Defiance Daily's volatility.| Risk Adjusted Performance | 0.0375 | |||
| Jensen Alpha | 2.07 | |||
| Total Risk Alpha | (4.70) | |||
| Sortino Ratio | 0.0755 | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Defiance Daily'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.
Defiance Daily Target Backtested Returns
Defiance Daily is abnormally volatile given 3 months investment horizon. Defiance Daily Target secures Sharpe Ratio (or Efficiency) of 0.0322, which denotes the etf had a 0.0322% return per unit of risk over the last 3 months. We are able to interpolate and collect thirty different technical indicators, which can help you to evaluate if expected returns of 1.17% are justified by taking the suggested risk. Use Defiance Daily Mean Deviation of 12.92, downside deviation of 15.42, and Coefficient Of Variation of 2756.48 to evaluate company specific risk that cannot be diversified away. The etf shows a Beta (market volatility) of -6.07, which means a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Defiance Daily are expected to decrease by larger amounts. On the other hand, during market turmoil, Defiance Daily is expected to outperform it.
Auto-correlation | -0.28 |
Weak reverse predictability
Defiance Daily Target has weak reverse predictability. Overlapping area represents the amount of predictability between Defiance Daily time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Defiance Daily Target price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Defiance Daily price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 2.07 |
Defiance Daily Target lagged returns against current returns
Autocorrelation, which is Defiance Daily 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 Defiance Daily's etf expected returns. We can calculate the autocorrelation of Defiance Daily returns to help us make a trade decision. For example, suppose you find that Defiance Daily 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 |
Defiance Daily 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 Defiance Daily etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Defiance Daily etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Defiance Daily etf over time.
Current vs Lagged Prices |
| Timeline |
Defiance Daily Lagged Returns
When evaluating Defiance Daily's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Defiance Daily etf have on its future price. Defiance Daily 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, Defiance Daily autocorrelation shows the relationship between Defiance Daily etf current value and its past values and can show if there is a momentum factor associated with investing in Defiance Daily Target.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out Defiance Daily Correlation, Defiance Daily Volatility and Defiance Daily Alpha and Beta module to complement your research on Defiance Daily. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Defiance Daily 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.