Proshares Ultrapro Russell2000 Etf Market Value
| URTY Etf | USD 63.32 3.22 5.36% |
| Symbol | ProShares |
The market value of ProShares UltraPro is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares UltraPro's value that differs from its market value or its book value, called intrinsic value, which is ProShares UltraPro'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 ProShares UltraPro's market value can be influenced by many factors that don't directly affect ProShares UltraPro'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 ProShares UltraPro's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares UltraPro is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares UltraPro'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.
ProShares UltraPro '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 ProShares UltraPro'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 ProShares UltraPro.
| 02/29/2024 |
| 11/25/2024 |
If you would invest 0.00 in ProShares UltraPro on February 29, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares UltraPro Russell2000 or generate 0.0% return on investment in ProShares UltraPro over 270 days. ProShares UltraPro is related to or competes with Direxion Daily, Direxion Daily, and Direxion Daily. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns ... More
ProShares UltraPro 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 ProShares UltraPro'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 ProShares UltraPro Russell2000 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.41 | |||
| Information Ratio | 0.0928 | |||
| Maximum Drawdown | 22.64 | |||
| Value At Risk | (5.16) | |||
| Potential Upside | 6.23 |
ProShares UltraPro Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares UltraPro's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares UltraPro's standard deviation. In reality, there are many statistical measures that can use ProShares UltraPro historical prices to predict the future ProShares UltraPro's volatility.| Risk Adjusted Performance | 0.1042 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | 0.1095 | |||
| Treynor Ratio | 0.107 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares UltraPro'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.
ProShares UltraPro Backtested Returns
ProShares UltraPro appears to be very steady, given 3 months investment horizon. ProShares UltraPro maintains Sharpe Ratio (i.e., Efficiency) of 0.1, which implies the entity had a 0.1% return per unit of risk over the last 3 months. We have found thirty technical indicators for ProShares UltraPro, which you can use to evaluate the volatility of the etf. Please evaluate ProShares UltraPro's Semi Deviation of 2.96, coefficient of variation of 797.65, and Risk Adjusted Performance of 0.1042 to confirm if our risk estimates are consistent with your expectations. The etf holds a Beta of 4.62, which implies 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, ProShares UltraPro will likely underperform.
Auto-correlation | -0.04 |
Very weak reverse predictability
ProShares UltraPro Russell2000 has very weak reverse predictability. Overlapping area represents the amount of predictability between ProShares UltraPro time series from 29th of February 2024 to 13th of July 2024 and 13th of July 2024 to 25th 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 ProShares UltraPro price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current ProShares UltraPro price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 27.12 |
ProShares UltraPro lagged returns against current returns
Autocorrelation, which is ProShares UltraPro 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 ProShares UltraPro's etf expected returns. We can calculate the autocorrelation of ProShares UltraPro returns to help us make a trade decision. For example, suppose you find that ProShares UltraPro 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 |
ProShares UltraPro 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 ProShares UltraPro etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares UltraPro etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares UltraPro etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares UltraPro Lagged Returns
When evaluating ProShares UltraPro's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares UltraPro etf have on its future price. ProShares UltraPro 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, ProShares UltraPro autocorrelation shows the relationship between ProShares UltraPro etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares UltraPro Russell2000.
Regressed Prices |
| Timeline |
Also Currently Popular
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.When determining whether ProShares UltraPro offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ProShares UltraPro's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Proshares Ultrapro Russell2000 Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Proshares Ultrapro Russell2000 Etf:Check out ProShares UltraPro Correlation, ProShares UltraPro Volatility and ProShares UltraPro Alpha and Beta module to complement your research on ProShares UltraPro. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
ProShares UltraPro 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.