Spdr Sp Biotech Etf Market Value
| XBI Etf | USD 96.24 1.94 2.06% |
| Symbol | SPDR |
The market value of SPDR SP Biotech is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR SP's value that differs from its market value or its book value, called intrinsic value, which is SPDR SP'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 SPDR SP's market value can be influenced by many factors that don't directly affect SPDR SP'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 SPDR SP's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR SP is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR SP'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.
SPDR SP '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 SPDR SP'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 SPDR SP.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in SPDR SP on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding SPDR SP Biotech or generate 0.0% return on investment in SPDR SP over 180 days. SPDR SP is related to or competes with Global X, Global X, Global X, and Global X. In seeking to track the performance of the SP Biotechnology Select Industry Index , the fund employs a sampling strategy More
SPDR SP 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 SPDR SP'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 SPDR SP Biotech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 7.85 | |||
| Value At Risk | (2.56) | |||
| Potential Upside | 2.06 |
SPDR SP Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR SP's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR SP's standard deviation. In reality, there are many statistical measures that can use SPDR SP historical prices to predict the future SPDR SP's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | (0.05) |
SPDR SP Biotech Backtested Returns
SPDR SP Biotech owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0554, which indicates the etf had a -0.0554% return per unit of volatility over the last 3 months. SPDR SP Biotech exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SPDR SP's variance of 1.85, and Risk Adjusted Performance of (0.02) to confirm the risk estimate we provide. The entity has a beta of 1.16, which indicates 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, SPDR SP will likely underperform.
Auto-correlation | -0.48 |
Modest reverse predictability
SPDR SP Biotech has modest reverse predictability. Overlapping area represents the amount of predictability between SPDR SP time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd 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 SPDR SP Biotech price movement. The serial correlation of -0.48 indicates that about 48.0% of current SPDR SP price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 6.14 |
SPDR SP Biotech lagged returns against current returns
Autocorrelation, which is SPDR SP 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 SPDR SP's etf expected returns. We can calculate the autocorrelation of SPDR SP returns to help us make a trade decision. For example, suppose you find that SPDR SP 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 |
SPDR SP 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 SPDR SP etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR SP etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR SP etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR SP Lagged Returns
When evaluating SPDR SP's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR SP etf have on its future price. SPDR SP 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, SPDR SP autocorrelation shows the relationship between SPDR SP etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR SP Biotech.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
When determining whether SPDR SP Biotech offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of SPDR SP'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 Spdr Sp Biotech Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Spdr Sp Biotech Etf:Check out SPDR SP Correlation, SPDR SP Volatility and SPDR SP Alpha and Beta module to complement your research on SPDR SP. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
SPDR SP 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.