Consumer Staples Select Etf Market Value
| XLP Etf | USD 81.09 0.87 1.08% |
| Symbol | Consumer |
The market value of Consumer Staples Select is measured differently than its book value, which is the value of Consumer that is recorded on the company's balance sheet. Investors also form their own opinion of Consumer Staples' value that differs from its market value or its book value, called intrinsic value, which is Consumer Staples' 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 Consumer Staples' market value can be influenced by many factors that don't directly affect Consumer Staples' 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 Consumer Staples' value and its price as these two are different measures arrived at by different means. Investors typically determine if Consumer Staples is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Consumer Staples' 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.
Consumer Staples '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 Consumer Staples' 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 Consumer Staples.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Consumer Staples on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Consumer Staples Select or generate 0.0% return on investment in Consumer Staples over 30 days. Consumer Staples is related to or competes with Consumer Discretionary, Industrial Select, Utilities Select, Materials Select, and Health Care. In seeking to track the performance of the index, the fund employs a replication strategy More
Consumer Staples 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 Consumer Staples' 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 Consumer Staples Select upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 2.42 | |||
| Value At Risk | (0.99) | |||
| Potential Upside | 0.7753 |
Consumer Staples Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Consumer Staples' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Consumer Staples' standard deviation. In reality, there are many statistical measures that can use Consumer Staples historical prices to predict the future Consumer Staples' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.15) |
Consumer Staples Select Backtested Returns
Consumer Staples Select secures Sharpe Ratio (or Efficiency) of -0.0258, which signifies that the etf had a -0.0258% return per unit of risk over the last 3 months. Consumer Staples Select exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Consumer Staples' Mean Deviation of 0.4874, standard deviation of 0.5916, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of 0.0829, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Consumer Staples' returns are expected to increase less than the market. However, during the bear market, the loss of holding Consumer Staples is expected to be smaller as well.
Auto-correlation | -0.45 |
Modest reverse predictability
Consumer Staples Select has modest reverse predictability. Overlapping area represents the amount of predictability between Consumer Staples time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Consumer Staples Select price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Consumer Staples price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 0.14 |
Consumer Staples Select lagged returns against current returns
Autocorrelation, which is Consumer Staples 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 Consumer Staples' etf expected returns. We can calculate the autocorrelation of Consumer Staples returns to help us make a trade decision. For example, suppose you find that Consumer Staples 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 |
Consumer Staples 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 Consumer Staples etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Consumer Staples etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Consumer Staples etf over time.
Current vs Lagged Prices |
| Timeline |
Consumer Staples Lagged Returns
When evaluating Consumer Staples' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Consumer Staples etf have on its future price. Consumer Staples 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, Consumer Staples autocorrelation shows the relationship between Consumer Staples etf current value and its past values and can show if there is a momentum factor associated with investing in Consumer Staples Select.
Regressed Prices |
| Timeline |
Pair Trading with Consumer Staples
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 Consumer Staples 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 Consumer Staples will appreciate offsetting losses from the drop in the long position's value.Moving together with Consumer Etf
| 0.91 | VDC | Vanguard Consumer Staples | PairCorr |
| 0.96 | IYK | iShares Consumer Staples | PairCorr |
| 0.93 | KXI | iShares Global Consumer | PairCorr |
| 0.92 | FSTA | Fidelity MSCI Consumer | PairCorr |
Moving against Consumer Etf
| 0.69 | USD | ProShares Ultra Semi Potential Growth | PairCorr |
| 0.67 | FBGX | UBS | PairCorr |
| 0.65 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.65 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.61 | SPY | SPDR SP 500 | PairCorr |
The ability to find closely correlated positions to Consumer Staples could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Consumer Staples 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 Consumer Staples - 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 Consumer Staples Select to buy it.
The correlation of Consumer Staples 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 Consumer Staples moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Consumer Staples Select 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 Consumer Staples 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 Consumer Staples Correlation, Consumer Staples Volatility and Consumer Staples Alpha and Beta module to complement your research on Consumer Staples. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Consumer Staples 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.