Ninepoint Web3 Innovators Etf Market Value
| TKN Etf | 24.85 0.46 1.82% |
| Symbol | Ninepoint |
Ninepoint Web3 '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 Ninepoint Web3'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 Ninepoint Web3.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Ninepoint Web3 on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Ninepoint Web3 Innovators or generate 0.0% return on investment in Ninepoint Web3 over 720 days. Ninepoint Web3 is related to or competes with BetaPro SPTSX, BetaPro SPTSX, BetaPro SP, BetaPro NASDAQ, First Trust, and Blockchain Technologies. Ninepoint Web3 is entity of Canada. It is traded as Etf on TO exchange. More
Ninepoint Web3 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 Ninepoint Web3'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 Ninepoint Web3 Innovators upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.25 | |||
| Information Ratio | 0.1572 | |||
| Maximum Drawdown | 18.38 | |||
| Value At Risk | (3.56) | |||
| Potential Upside | 3.29 |
Ninepoint Web3 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ninepoint Web3's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ninepoint Web3's standard deviation. In reality, there are many statistical measures that can use Ninepoint Web3 historical prices to predict the future Ninepoint Web3's volatility.| Risk Adjusted Performance | 0.1665 | |||
| Jensen Alpha | 0.4408 | |||
| Total Risk Alpha | 0.1014 | |||
| Sortino Ratio | 0.1877 | |||
| Treynor Ratio | 0.6423 |
Ninepoint Web3 Innovators Backtested Returns
Ninepoint Web3 appears to be very steady, given 3 months investment horizon. Ninepoint Web3 Innovators has Sharpe Ratio of 0.23, which conveys that the entity had a 0.23% return per unit of risk over the last 3 months. By analyzing Ninepoint Web3's technical indicators, you can evaluate if the expected return of 0.61% is justified by implied risk. Please exercise Ninepoint Web3's Risk Adjusted Performance of 0.1665, downside deviation of 2.25, and Mean Deviation of 1.69 to check out if our risk estimates are consistent with your expectations. The etf secures a Beta (Market Risk) of 0.86, which conveys possible diversification benefits within a given portfolio. Ninepoint Web3 returns are very sensitive to returns on the market. As the market goes up or down, Ninepoint Web3 is expected to follow.
Auto-correlation | 0.83 |
Very good predictability
Ninepoint Web3 Innovators has very good predictability. Overlapping area represents the amount of predictability between Ninepoint Web3 time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd of December 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 Ninepoint Web3 Innovators price movement. The serial correlation of 0.83 indicates that around 83.0% of current Ninepoint Web3 price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 6.23 |
Ninepoint Web3 Innovators lagged returns against current returns
Autocorrelation, which is Ninepoint Web3 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 Ninepoint Web3's etf expected returns. We can calculate the autocorrelation of Ninepoint Web3 returns to help us make a trade decision. For example, suppose you find that Ninepoint Web3 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 |
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Ninepoint Web3 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 Ninepoint Web3 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ninepoint Web3 etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ninepoint Web3 etf over time.
Current vs Lagged Prices |
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Ninepoint Web3 Lagged Returns
When evaluating Ninepoint Web3's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ninepoint Web3 etf have on its future price. Ninepoint Web3 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, Ninepoint Web3 autocorrelation shows the relationship between Ninepoint Web3 etf current value and its past values and can show if there is a momentum factor associated with investing in Ninepoint Web3 Innovators.
Regressed Prices |
| Timeline |
Pair Trading with Ninepoint Web3
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Ninepoint Web3 position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Ninepoint Web3 will appreciate offsetting losses from the drop in the long position's value.Moving against Ninepoint Etf
The ability to find closely correlated positions to Ninepoint Web3 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ninepoint Web3 when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Ninepoint Web3 - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Ninepoint Web3 Innovators to buy it.
The correlation of Ninepoint Web3 is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ninepoint Web3 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Web3 Innovators moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Ninepoint Web3 can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Ninepoint Etf
Ninepoint Web3 financial ratios help investors to determine whether Ninepoint Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Ninepoint with respect to the benefits of owning Ninepoint Web3 security.