Consumer Discretionary Select Etf Market Value
| XLY Etf | USD 215.00 0.38 0.18% |
| Symbol | Consumer |
The market value of Consumer Discretionary 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 Discretionary's value that differs from its market value or its book value, called intrinsic value, which is Consumer Discretionary'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 Consumer Discretionary's market value can be influenced by many factors that don't directly affect Consumer Discretionary'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 Consumer Discretionary's value and its price as these two are different measures arrived at by different means. Investors typically determine if Consumer Discretionary is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Consumer Discretionary'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.
Consumer Discretionary '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 Discretionary'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 Consumer Discretionary.
| 12/02/2022 |
| 11/21/2024 |
If you would invest 0.00 in Consumer Discretionary on December 2, 2022 and sell it all today you would earn a total of 0.00 from holding Consumer Discretionary Select or generate 0.0% return on investment in Consumer Discretionary over 720 days. Consumer Discretionary is related to or competes with Consumer Staples, Industrial Select, Materials Select, Health Care, and Technology Select. The fund generally invests substantially all, but at least 95, of its total assets in the securities comprising the inde... More
Consumer Discretionary 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 Discretionary'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 Consumer Discretionary Select upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.02 | |||
| Information Ratio | 0.1187 | |||
| Maximum Drawdown | 4.68 | |||
| Value At Risk | (1.55) | |||
| Potential Upside | 2.02 |
Consumer Discretionary Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Consumer Discretionary's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Consumer Discretionary's standard deviation. In reality, there are many statistical measures that can use Consumer Discretionary historical prices to predict the future Consumer Discretionary's volatility.| Risk Adjusted Performance | 0.1548 | |||
| Jensen Alpha | 0.1321 | |||
| Total Risk Alpha | 0.0916 | |||
| Sortino Ratio | 0.1355 | |||
| Treynor Ratio | 0.2091 |
Consumer Discretionary Backtested Returns
Consumer Discretionary appears to be very steady, given 3 months investment horizon. Consumer Discretionary secures Sharpe Ratio (or Efficiency) of 0.2, which signifies that the etf had a 0.2% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Consumer Discretionary Select, which you can use to evaluate the volatility of the entity. Please makes use of Consumer Discretionary's Risk Adjusted Performance of 0.1548, mean deviation of 0.9246, and Downside Deviation of 1.02 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 1.07, which signifies a somewhat significant risk relative to the market. Consumer Discretionary returns are very sensitive to returns on the market. As the market goes up or down, Consumer Discretionary is expected to follow.
Auto-correlation | 0.48 |
Average predictability
Consumer Discretionary Select has average predictability. Overlapping area represents the amount of predictability between Consumer Discretionary time series from 2nd of December 2022 to 27th of November 2023 and 27th of November 2023 to 21st 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 Discretionary price movement. The serial correlation of 0.48 indicates that about 48.0% of current Consumer Discretionary price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 114.69 |
Consumer Discretionary lagged returns against current returns
Autocorrelation, which is Consumer Discretionary 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 Discretionary's etf expected returns. We can calculate the autocorrelation of Consumer Discretionary returns to help us make a trade decision. For example, suppose you find that Consumer Discretionary 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 Discretionary 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 Discretionary etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Consumer Discretionary etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Consumer Discretionary etf over time.
Current vs Lagged Prices |
| Timeline |
Consumer Discretionary Lagged Returns
When evaluating Consumer Discretionary's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Consumer Discretionary etf have on its future price. Consumer Discretionary 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 Discretionary autocorrelation shows the relationship between Consumer Discretionary etf current value and its past values and can show if there is a momentum factor associated with investing in Consumer Discretionary Select.
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 Consumer Discretionary offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Consumer Discretionary'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 Consumer Discretionary Select Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Consumer Discretionary Select Etf:Check out Consumer Discretionary Correlation, Consumer Discretionary Volatility and Consumer Discretionary Alpha and Beta module to complement your research on Consumer Discretionary. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Consumer Discretionary 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.