Fidelity Covington Trust Etf Technical Analysis
| FMAG Etf | USD 31.56 0.03 0.1% |
As of the 24th of November, Fidelity Covington shows the Coefficient Of Variation of 1000.61, downside deviation of 1.08, and Mean Deviation of 0.6712. Fidelity Covington Trust technical analysis allows you to utilize historical prices and volume patterns in order to determine a pattern that computes the direction of the entity's future prices. Please confirm Fidelity Covington Trust downside deviation, treynor ratio, expected short fall, as well as the relationship between the variance and potential upside to decide if Fidelity Covington Trust is priced favorably, providing market reflects its regular price of 31.56 per share.
Fidelity Covington Momentum Analysis
Momentum indicators are widely used technical indicators which help to measure the pace at which the price of specific equity, such as Fidelity, fluctuates. Many momentum indicators also complement each other and can be helpful when the market is rising or falling as compared to FidelityFidelity |
Fidelity Covington 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.
Fidelity Covington Trust Technical Analysis
The output start index for this execution was three with a total number of output elements of fifty-eight. The Average True Range was developed by J. Welles Wilder in 1970s. It is one of components of the Welles Wilder Directional Movement indicators. The ATR is a measure of Fidelity Covington Trust volatility. High ATR values indicate high volatility, and low values indicate low volatility.
Fidelity Covington Trust Trend Analysis
Use this graph to draw trend lines for Fidelity Covington Trust. You can use it to identify possible trend reversals for Fidelity Covington as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Fidelity Covington price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.Fidelity Covington Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Fidelity Covington Trust applied against its price change over selected period. The best fit line has a slop of 0.04 , which means Fidelity Covington Trust will continue generating value for investors. It has 122 observation points and a regression sum of squares at 58.8, which is the sum of squared deviations for the predicted Fidelity Covington price change compared to its average price change.About Fidelity Covington Technical Analysis
The technical analysis module can be used to analyzes prices, returns, volume, basic money flow, and other market information and help investors to determine the real value of Fidelity Covington Trust on a daily or weekly bases. We use both bottom-up as well as top-down valuation methodologies to arrive at the intrinsic value of Fidelity Covington Trust based on its technical analysis. In general, a bottom-up approach, as applied to this etf, focuses on Fidelity Covington Trust price pattern first instead of the macroeconomic environment surrounding Fidelity Covington Trust. By analyzing Fidelity Covington's financials, daily price indicators, and related drivers such as dividends, momentum ratios, and various types of growth rates, we attempt to find the most accurate representation of Fidelity Covington's intrinsic value. As compared to a bottom-up approach, our top-down model examines the macroeconomic factors that affect the industry/economy before zooming in to Fidelity Covington specific price patterns or momentum indicators. Please read more on our technical analysis page.
Fidelity Covington November 24, 2024 Technical Indicators
Most technical analysis of Fidelity help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Fidelity from various momentum indicators to cycle indicators. When you analyze Fidelity charts, please remember that the event formation may indicate an entry point for a short seller, and look at different other indicators across different periods to confirm that a breakdown or reversion is likely to occur.
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| Volume Indicators |
| Risk Adjusted Performance | 0.0786 | |||
| Market Risk Adjusted Performance | 0.1025 | |||
| Mean Deviation | 0.6712 | |||
| Semi Deviation | 0.8997 | |||
| Downside Deviation | 1.08 | |||
| Coefficient Of Variation | 1000.61 | |||
| Standard Deviation | 0.9563 | |||
| Variance | 0.9145 | |||
| Information Ratio | (0.04) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0925 | |||
| Maximum Drawdown | 4.86 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 1.45 | |||
| Downside Variance | 1.16 | |||
| Semi Variance | 0.8094 | |||
| Expected Short fall | (0.71) | |||
| Skewness | (0.45) | |||
| Kurtosis | 1.58 |
Fidelity Covington Trust One Year Return
Based on the recorded statements, Fidelity Covington Trust has an One Year Return of 35.8%. This is 55.11% higher than that of the Fidelity Investments family and significantly higher than that of the Large Growth category. The one year return for all United States etfs is notably lower than that of the firm.
Although One Year Fund Return indicator can give a sense of overall fund short-term potential, it is recommended to look at mid and long term return measure before selecting a particular fund or ETF. The great way to validate fund short-term performance is to compare it with other similar funds or ETFs for the same 12 months interval.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fidelity Covington Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
The market value of Fidelity Covington Trust is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Covington's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Covington'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 Fidelity Covington's market value can be influenced by many factors that don't directly affect Fidelity Covington'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 Fidelity Covington's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Covington is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Covington'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.