Ninepoint Mining Evolution Etf Volatility
| NMNG Etf | 12.63 0.21 1.69% |
Ninepoint Mining appears to be not too volatile, given 3 months investment horizon. Ninepoint Mining Evo has Sharpe Ratio of 0.25, which conveys that the entity had a 0.25 % return per unit of risk over the last 3 months. By analyzing Ninepoint Mining's technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please exercise Ninepoint Mining's Mean Deviation of 1.57, downside deviation of 2.15, and Risk Adjusted Performance of 0.1807 to check out if our risk estimates are consistent with your expectations.
Ninepoint |
Ninepoint Mining Etf volatility depicts how high the prices fluctuate around the mean (or its average) price. In other words, it is a statistical measure of the distribution of Ninepoint daily returns, and it is calculated using variance and standard deviation. We also use Ninepoint's beta, its sensitivity to the market, as well as its odds of financial distress to provide a more practical estimation of Ninepoint Mining volatility.
Ninepoint Mining Evo Etf Volatility Analysis
Volatility refers to the frequency at which Ninepoint Mining etf price increases or decreases within a specified period. These fluctuations usually indicate the level of risk that's associated with Ninepoint Mining's price changes. Investors will then calculate the volatility of Ninepoint Mining's etf to predict their future moves. A etf that has erratic price changes quickly hits new highs, and lows are considered highly volatile. A etf with relatively stable price changes has low volatility. A highly volatile etf is riskier, but the risk cuts both ways. Investing in highly volatile security can either be highly successful, or you may experience significant failure. There are two main types of Ninepoint Mining's volatility:
Historical Volatility
This type of etf volatility measures Ninepoint Mining's fluctuations based on previous trends. It's commonly used to predict Ninepoint Mining's future behavior based on its past. However, it cannot conclusively determine the future direction of the etf.Implied Volatility
This type of volatility provides a positive outlook on future price fluctuations for Ninepoint Mining's current market price. This means that the etf will return to its initially predicted market price. This type of volatility can be derived from derivative instruments written on Ninepoint Mining's to be redeemed at a future date.Transformation |
The output start index for this execution was zero with a total number of output elements of sixty-one. Ninepoint Mining Evo Average Price is the average of the sum of open, high, low and close daily prices of a bar. It can be used to smooth an indicator that normally takes just the closing price as input.
Ninepoint Mining Projected Return Density Against Market
Assuming the 90 days trading horizon the etf has the beta coefficient of 1.0007 . This indicates Ninepoint Mining Evolution market returns are highly reactive to returns on the market. As the market goes up or down, Ninepoint Mining is expected to follow.Most traded equities are subject to two types of risk - systematic (i.e., market) and unsystematic (i.e., nonmarket or company-specific) risk. Unsystematic risk is the risk that events specific to Ninepoint Mining or Ninepoint sector will adversely affect the stock's price. This type of risk can be diversified away by owning several different stocks in different industries whose stock prices have shown a small correlation to each other. On the other hand, systematic risk is the risk that Ninepoint Mining's price will be affected by overall etf market movements and cannot be diversified away. So, no matter how many positions you have, you cannot eliminate market risk. However, you can measure a Ninepoint etf's historical response to market movements and buy it if you are comfortable with its volatility direction. Beta and standard deviation are two commonly used measures to help you make the right decision.
Predicted Return Density |
| Returns |
What Drives a Ninepoint Mining Price Volatility?
Several factors can influence a etf's market volatility:Industry
Specific events can influence volatility within a particular industry. For instance, a significant weather upheaval in a crucial oil-production site may cause oil prices to increase in the oil sector. The direct result will be the rise in the stock price of oil distribution companies. Similarly, any government regulation in a specific industry could negatively influence stock prices due to increased regulations on compliance that may impact the company's future earnings and growth.Political and Economic environment
When governments make significant decisions regarding trade agreements, policies, and legislation regarding specific industries, they will influence stock prices. Everything from speeches to elections may influence investors, who can directly influence the stock prices in any particular industry. The prevailing economic situation also plays a significant role in stock prices. When the economy is doing well, investors will have a positive reaction and hence, better stock prices and vice versa.The Company's Performance
Sometimes volatility will only affect an individual company. For example, a revolutionary product launch or strong earnings report may attract investor attention to the company. This positive attention may impact the company's stock price. In contrast, product recalls and data breaches may negatively influence a company's stock prices.Ninepoint Mining Etf Risk Measures
Assuming the 90 days trading horizon the coefficient of variation of Ninepoint Mining is 406.16. The daily returns are distributed with a variance of 4.48 and standard deviation of 2.12. The mean deviation of Ninepoint Mining Evolution is currently at 1.55. For similar time horizon, the selected benchmark (Dow Jones Industrial) has volatility of 0.81
α | Alpha over Dow Jones | 0.39 | |
β | Beta against Dow Jones | 1.00 | |
σ | Overall volatility | 2.12 | |
Ir | Information ratio | 0.18 |
Ninepoint Mining Etf Return Volatility
Ninepoint Mining historical daily return volatility represents how much of Ninepoint Mining etf's daily returns swing around its mean - it is a statistical measure of its dispersion of returns. The ETF accepts 2.1164% volatility on return distribution over the 90 days horizon. By contrast, Dow Jones Industrial accepts 0.7702% volatility on return distribution over the 90 days horizon. Performance |
| Timeline |
Related Correlations Analysis
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
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Ninepoint Mining Competition Risk-Adjusted Indicators
There is a big difference between Ninepoint Etf performing well and Ninepoint Mining ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Ninepoint Mining's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.51 | 0.00 | (0.02) | 0.06 | 1.53 | 3.43 | 13.69 | |||
| MSFT | 1.32 | (0.36) | 0.00 | (0.92) | 0.00 | 1.90 | 13.28 | |||
| UBER | 1.50 | (0.46) | 0.00 | (0.90) | 0.00 | 2.41 | 11.09 | |||
| F | 1.22 | 0.07 | 0.05 | 0.14 | 1.20 | 3.34 | 7.16 | |||
| T | 1.02 | 0.23 | 0.17 | 3.71 | 0.77 | 3.87 | 5.31 | |||
| A | 1.27 | (0.30) | 0.00 | (0.17) | 0.00 | 2.90 | 7.85 | |||
| CRM | 1.68 | (0.41) | 0.00 | (0.35) | 0.00 | 2.94 | 12.37 | |||
| JPM | 1.26 | (0.15) | 0.00 | (0.04) | 0.00 | 2.34 | 7.38 | |||
| MRK | 1.35 | 0.49 | 0.35 | 0.77 | 0.97 | 3.59 | 8.74 | |||
| XOM | 1.24 | 0.36 | 0.22 | 1.65 | 1.11 | 2.68 | 6.83 |
Ninepoint Mining Investment Opportunity
Ninepoint Mining Evolution has a volatility of 2.12 and is 2.75 times more volatile than Dow Jones Industrial. 19 percent of all equities and portfolios are less risky than Ninepoint Mining. You can use Ninepoint Mining Evolution to enhance the returns of your portfolios. The etf experiences a large bullish trend. Check odds of Ninepoint Mining to be traded at 13.89 in 90 days.Very poor diversification
The correlation between Ninepoint Mining Evolution and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ninepoint Mining Evolution and DJI in the same portfolio, assuming nothing else is changed.
Ninepoint Mining Additional Risk Indicators
The analysis of Ninepoint Mining's secondary risk indicators is one of the essential steps in making a buy or sell decision. The process involves identifying the amount of risk involved in Ninepoint Mining's investment and either accepting that risk or mitigating it. Along with some common measures of Ninepoint Mining etf's risk such as standard deviation, beta, or value at risk, we also provide a set of secondary indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Risk Adjusted Performance | 0.1807 | |||
| Market Risk Adjusted Performance | 0.4591 | |||
| Mean Deviation | 1.57 | |||
| Semi Deviation | 1.71 | |||
| Downside Deviation | 2.15 | |||
| Coefficient Of Variation | 462.46 | |||
| Standard Deviation | 2.12 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential etfs, we recommend comparing similar etfs with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Ninepoint Mining Suggested Diversification Pairs
Pair trading is one of the very effective strategies used by professional day traders and hedge funds capitalizing on short-time and mid-term market inefficiencies. The approach is based on the fact that the ratio of prices of two correlating shares is long-term stable and oscillates around the average value. If the correlation ratio comes outside the common area, you can speculate with a high success rate that the ratio will return to the mean value and collect a profit.
The effect of pair diversification on risk is to reduce it, but we should note this doesn't apply to all risk types. When we trade pairs against Ninepoint Mining as a counterpart, there is always some inherent risk that will never be diversified away no matter what. This volatility limits the effect of tactical diversification using pair trading. Ninepoint Mining's systematic risk is the inherent uncertainty of the entire market, and therefore cannot be mitigated even by pair-trading it against the equity that is not highly correlated to it. On the other hand, Ninepoint Mining's unsystematic risk describes the types of risk that we can protect against, at least to some degree, by selecting a matching pair that is not perfectly correlated to Ninepoint Mining Evolution.