Fundx Etf Market Value
| XCOR Etf | USD 74.21 1.16 1.59% |
| Symbol | FundX |
The market value of FundX ETF is measured differently than its book value, which is the value of FundX that is recorded on the company's balance sheet. Investors also form their own opinion of FundX ETF's value that differs from its market value or its book value, called intrinsic value, which is FundX ETF'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 FundX ETF's market value can be influenced by many factors that don't directly affect FundX ETF'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 FundX ETF's value and its price as these two are different measures arrived at by different means. Investors typically determine if FundX ETF is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, FundX ETF'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.
FundX ETF '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 FundX ETF'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 FundX ETF.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in FundX ETF on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding FundX ETF or generate 0.0% return on investment in FundX ETF over 90 days. FundX ETF is related to or competes with Freedom Day, Franklin Templeton, IShares MSCI, Tidal Trust, IShares Dividend, Altrius Global, and Invesco Exchange. More
FundX ETF 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 FundX ETF'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 FundX ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8813 | |||
| Information Ratio | 0.104 | |||
| Maximum Drawdown | 4.58 | |||
| Value At Risk | (1.25) | |||
| Potential Upside | 1.59 |
FundX ETF Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for FundX ETF's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as FundX ETF's standard deviation. In reality, there are many statistical measures that can use FundX ETF historical prices to predict the future FundX ETF's volatility.| Risk Adjusted Performance | 0.1817 | |||
| Jensen Alpha | 0.1957 | |||
| Total Risk Alpha | 0.0678 | |||
| Sortino Ratio | 0.101 | |||
| Treynor Ratio | 2.99 |
FundX ETF Backtested Returns
Currently, FundX ETF is very steady. FundX ETF secures Sharpe Ratio (or Efficiency) of 0.22, which denotes the etf had a 0.22% return per unit of risk over the last 3 months. We have found thirty technical indicators for FundX ETF, which you can use to evaluate the volatility of the entity. Please confirm FundX ETF's Mean Deviation of 0.5992, coefficient of variation of 400.9, and Downside Deviation of 0.8813 to check if the risk estimate we provide is consistent with the expected return of 0.18%. The etf shows a Beta (market volatility) of 0.068, which means not very significant fluctuations relative to the market. As returns on the market increase, FundX ETF's returns are expected to increase less than the market. However, during the bear market, the loss of holding FundX ETF is expected to be smaller as well.
Auto-correlation | 0.83 |
Very good predictability
FundX ETF has very good predictability. Overlapping area represents the amount of predictability between FundX ETF time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th 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 FundX ETF price movement. The serial correlation of 0.83 indicates that around 83.0% of current FundX ETF price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 2.83 |
FundX ETF lagged returns against current returns
Autocorrelation, which is FundX ETF 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 FundX ETF's etf expected returns. We can calculate the autocorrelation of FundX ETF returns to help us make a trade decision. For example, suppose you find that FundX ETF 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 |
FundX ETF 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 FundX ETF etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if FundX ETF etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in FundX ETF etf over time.
Current vs Lagged Prices |
| Timeline |
FundX ETF Lagged Returns
When evaluating FundX ETF's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of FundX ETF etf have on its future price. FundX ETF 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, FundX ETF autocorrelation shows the relationship between FundX ETF etf current value and its past values and can show if there is a momentum factor associated with investing in FundX ETF.
Regressed Prices |
| Timeline |
Pair Trading with FundX ETF
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 FundX ETF 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 FundX ETF will appreciate offsetting losses from the drop in the long position's value.Moving together with FundX Etf
| 0.66 | VUG | Vanguard Growth Index | PairCorr |
| 0.65 | IWF | iShares Russell 1000 | PairCorr |
| 0.65 | IVW | iShares SP 500 | PairCorr |
| 0.65 | SPYG | SPDR Portfolio SP | PairCorr |
| 0.66 | IUSG | iShares Core SP | PairCorr |
Moving against FundX Etf
The ability to find closely correlated positions to FundX ETF could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FundX ETF 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 FundX ETF - 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 FundX ETF to buy it.
The correlation of FundX ETF 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 FundX ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FundX ETF 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 FundX ETF 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.Check out FundX ETF Correlation, FundX ETF Volatility and FundX ETF Alpha and Beta module to complement your research on FundX ETF. To learn how to invest in FundX Etf, please use our How to Invest in FundX ETF guide.You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
FundX ETF 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.