Advisorshares Pure Cannabis Etf Market Value
| YOLO Etf | USD 2.61 0.02 0.77% |
| Symbol | AdvisorShares |
The market value of AdvisorShares Pure is measured differently than its book value, which is the value of AdvisorShares that is recorded on the company's balance sheet. Investors also form their own opinion of AdvisorShares Pure's value that differs from its market value or its book value, called intrinsic value, which is AdvisorShares Pure'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 AdvisorShares Pure's market value can be influenced by many factors that don't directly affect AdvisorShares Pure'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 AdvisorShares Pure's value and its price as these two are different measures arrived at by different means. Investors typically determine if AdvisorShares Pure is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AdvisorShares Pure'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.
AdvisorShares Pure '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 AdvisorShares Pure'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 AdvisorShares Pure.
| 06/04/2023 |
| 11/25/2024 |
If you would invest 0.00 in AdvisorShares Pure on June 4, 2023 and sell it all today you would earn a total of 0.00 from holding AdvisorShares Pure Cannabis or generate 0.0% return on investment in AdvisorShares Pure over 540 days. AdvisorShares Pure is related to or competes with SPDR Kensho, Global X, IShares Genomics, Morningstar Unconstrained, High-yield Municipal, Thrivent High, and Via Renewables. The fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing, under ... More
AdvisorShares Pure 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 AdvisorShares Pure'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 AdvisorShares Pure Cannabis upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 22.03 | |||
| Value At Risk | (3.49) | |||
| Potential Upside | 4.04 |
AdvisorShares Pure Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AdvisorShares Pure's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AdvisorShares Pure's standard deviation. In reality, there are many statistical measures that can use AdvisorShares Pure historical prices to predict the future AdvisorShares Pure's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.82) | |||
| Treynor Ratio | 0.2582 |
AdvisorShares Pure Backtested Returns
AdvisorShares Pure secures Sharpe Ratio (or Efficiency) of -0.0688, which signifies that the etf had a -0.0688% return per unit of risk over the last 3 months. AdvisorShares Pure Cannabis exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm AdvisorShares Pure's Risk Adjusted Performance of (0.07), mean deviation of 1.84, and Standard Deviation of 3.16 to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of -1.25, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning AdvisorShares Pure are expected to decrease by larger amounts. On the other hand, during market turmoil, AdvisorShares Pure is expected to outperform it.
Auto-correlation | -0.49 |
Modest reverse predictability
AdvisorShares Pure Cannabis has modest reverse predictability. Overlapping area represents the amount of predictability between AdvisorShares Pure time series from 4th of June 2023 to 29th of February 2024 and 29th of February 2024 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 AdvisorShares Pure price movement. The serial correlation of -0.49 indicates that about 49.0% of current AdvisorShares Pure price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.49 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
AdvisorShares Pure lagged returns against current returns
Autocorrelation, which is AdvisorShares Pure 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 AdvisorShares Pure's etf expected returns. We can calculate the autocorrelation of AdvisorShares Pure returns to help us make a trade decision. For example, suppose you find that AdvisorShares Pure 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 |
AdvisorShares Pure 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 AdvisorShares Pure etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AdvisorShares Pure etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AdvisorShares Pure etf over time.
Current vs Lagged Prices |
| Timeline |
AdvisorShares Pure Lagged Returns
When evaluating AdvisorShares Pure's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AdvisorShares Pure etf have on its future price. AdvisorShares Pure 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, AdvisorShares Pure autocorrelation shows the relationship between AdvisorShares Pure etf current value and its past values and can show if there is a momentum factor associated with investing in AdvisorShares Pure Cannabis.
Regressed Prices |
| Timeline |
Pair Trading with AdvisorShares Pure
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 AdvisorShares Pure 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 AdvisorShares Pure will appreciate offsetting losses from the drop in the long position's value.Moving together with AdvisorShares Etf
Moving against AdvisorShares Etf
| 0.76 | IPAY | Amplify ETF Trust | PairCorr |
| 0.72 | PXMV | Invesco SP MidCap | PairCorr |
| 0.62 | MAGS | Roundhill Magnificent | PairCorr |
| 0.57 | IGA | Voya Global Advantage | PairCorr |
| 0.55 | BOTZ | Global X Robotics | PairCorr |
The ability to find closely correlated positions to AdvisorShares Pure could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AdvisorShares Pure 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 AdvisorShares Pure - 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 AdvisorShares Pure Cannabis to buy it.
The correlation of AdvisorShares Pure 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 AdvisorShares Pure moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AdvisorShares Pure 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 AdvisorShares Pure 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 AdvisorShares Pure Correlation, AdvisorShares Pure Volatility and AdvisorShares Pure Alpha and Beta module to complement your research on AdvisorShares Pure. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
AdvisorShares Pure 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.