Max S P Etf Market Value
| SPYU Etf | 51.20 0.52 1.03% |
| Symbol | MAX |
The market value of MAX S P is measured differently than its book value, which is the value of MAX that is recorded on the company's balance sheet. Investors also form their own opinion of MAX S's value that differs from its market value or its book value, called intrinsic value, which is MAX S'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 MAX S's market value can be influenced by many factors that don't directly affect MAX S'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 MAX S's value and its price as these two are different measures arrived at by different means. Investors typically determine if MAX S is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MAX S'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.
MAX S '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 MAX S'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 MAX S.
| 01/04/2023 |
| 11/24/2024 |
If you would invest 0.00 in MAX S on January 4, 2023 and sell it all today you would earn a total of 0.00 from holding MAX S P or generate 0.0% return on investment in MAX S over 690 days. MAX S is related to or competes with Direxion Daily, Direxion Daily, and Direxion Daily. MAX S is entity of United States. It is traded as Etf on NYSE ARCA exchange. More
MAX S 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 MAX S'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 MAX S P upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.32 | |||
| Information Ratio | 0.0625 | |||
| Maximum Drawdown | 15.22 | |||
| Value At Risk | (5.37) | |||
| Potential Upside | 4.27 |
MAX S Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MAX S's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MAX S's standard deviation. In reality, there are many statistical measures that can use MAX S historical prices to predict the future MAX S's volatility.| Risk Adjusted Performance | 0.0884 | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0574 | |||
| Treynor Ratio | 0.0941 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of MAX S'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.
MAX S P Backtested Returns
MAX S appears to be very steady, given 3 months investment horizon. MAX S P has Sharpe Ratio of 0.0931, which conveys that the etf had a 0.0931% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for MAX S, which you can use to evaluate the volatility of the entity. Please exercise MAX S's mean deviation of 2.16, and Downside Deviation of 3.32 to check out if our risk estimates are consistent with your expectations. The entity secures a Beta (Market Risk) of 3.31, which conveys 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, MAX S will likely underperform.
Auto-correlation | 0.62 |
Good predictability
MAX S P has good predictability. Overlapping area represents the amount of predictability between MAX S time series from 4th of January 2023 to 15th of December 2023 and 15th of December 2023 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 MAX S P price movement. The serial correlation of 0.62 indicates that roughly 62.0% of current MAX S price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.62 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 0.36 |
MAX S P lagged returns against current returns
Autocorrelation, which is MAX S 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 MAX S's etf expected returns. We can calculate the autocorrelation of MAX S returns to help us make a trade decision. For example, suppose you find that MAX S 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 |
MAX S 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 MAX S etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MAX S etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MAX S etf over time.
Current vs Lagged Prices |
| Timeline |
MAX S Lagged Returns
When evaluating MAX S's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MAX S etf have on its future price. MAX S 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, MAX S autocorrelation shows the relationship between MAX S etf current value and its past values and can show if there is a momentum factor associated with investing in MAX S P.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out MAX S Correlation, MAX S Volatility and MAX S Alpha and Beta module to complement your research on MAX S. You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
MAX S 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.