PHLX Utility's market value is the price at which a share of PHLX Utility trades on a public exchange. It measures the collective expectations of PHLX Utility investors about its performance. PHLX Utility is listed at 1003.90 as of the 25th of November 2024, which is a 0.64% down since the beginning of the trading day. The index's lowest day price was 1003.2. With this module, you can estimate the performance of a buy and hold strategy of PHLX Utility and determine expected loss or profit from investing in PHLX Utility over a given investment horizon. Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any index could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.
Symbol
PHLX
PHLX Utility '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 PHLX Utility's index 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 PHLX Utility.
0.00
12/06/2022
No Change 0.00
0.0
In 1 year 11 months and 22 days
11/25/2024
0.00
If you would invest 0.00 in PHLX Utility on December 6, 2022 and sell it all today you would earn a total of 0.00 from holding PHLX Utility or generate 0.0% return on investment in PHLX Utility over 720 days.
PHLX Utility 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 PHLX Utility's index 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 PHLX Utility upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for PHLX Utility's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PHLX Utility's standard deviation. In reality, there are many statistical measures that can use PHLX Utility historical prices to predict the future PHLX Utility's volatility.
PHLX Utility maintains Sharpe Ratio (i.e., Efficiency) of 0.0709, which implies the entity had a 0.0709% return per unit of volatility over the last 3 months. We have found twenty-seven technical indicators for PHLX Utility, which you can use to evaluate the volatility of the index. The index holds a Beta of 0.0, which implies not very significant fluctuations relative to the market. the returns on MARKET and PHLX Utility are completely uncorrelated.
Auto-correlation
-0.84
Excellent reverse predictability
PHLX Utility has excellent reverse predictability. Overlapping area represents the amount of predictability between PHLX Utility time series from 6th of December 2022 to 1st of December 2023 and 1st of December 2023 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 PHLX Utility price movement. The serial correlation of -0.84 indicates that around 84.0% of current PHLX Utility price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.84
Spearman Rank Test
-0.81
Residual Average
0.0
Price Variance
7164.73
PHLX Utility lagged returns against current returns
Autocorrelation, which is PHLX Utility index'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 PHLX Utility's index expected returns. We can calculate the autocorrelation of PHLX Utility returns to help us make a trade decision. For example, suppose you find that PHLX Utility has exhibited high autocorrelation historically, and you observe that the index 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
PHLX Utility 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 PHLX Utility index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PHLX Utility index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PHLX Utility index over time.
Current vs Lagged Prices
Timeline
PHLX Utility Lagged Returns
When evaluating PHLX Utility's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PHLX Utility index have on its future price. PHLX Utility 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, PHLX Utility autocorrelation shows the relationship between PHLX Utility index current value and its past values and can show if there is a momentum factor associated with investing in PHLX Utility.
Regressed Prices
Timeline
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