Vaneck Africa Index Etf Market Value
| AFK Etf | USD 14.60 0.10 0.68% |
| Symbol | VanEck |
The market value of VanEck Africa Index is measured differently than its book value, which is the value of VanEck that is recorded on the company's balance sheet. Investors also form their own opinion of VanEck Africa's value that differs from its market value or its book value, called intrinsic value, which is VanEck Africa'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 VanEck Africa's market value can be influenced by many factors that don't directly affect VanEck Africa'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 VanEck Africa's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Africa is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Africa'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.
VanEck Africa '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 VanEck Africa'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 VanEck Africa.
| 05/06/2022 |
| 04/25/2024 |
If you would invest 0.00 in VanEck Africa on May 6, 2022 and sell it all today you would earn a total of 0.00 from holding VanEck Africa Index or generate 0.0% return on investment in VanEck Africa over 720 days. VanEck Africa is related to or competes with IShares MSCI, VanEck Indonesia, and IShares MSCI. The fund normallyinvests at least 80 percent of its total assets in securities that comprise the funds benchmark index More
VanEck Africa 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 VanEck Africa'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 VanEck Africa Index upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.38 | |||
| Information Ratio | 0.0171 | |||
| Maximum Drawdown | 6.25 | |||
| Value At Risk | (2.20) | |||
| Potential Upside | 1.96 |
VanEck Africa Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck Africa's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck Africa's standard deviation. In reality, there are many statistical measures that can use VanEck Africa historical prices to predict the future VanEck Africa's volatility.| Risk Adjusted Performance | 0.0626 | |||
| Jensen Alpha | 0.0572 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0157 | |||
| Treynor Ratio | 0.1834 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck Africa's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
VanEck Africa Index Backtested Returns
We consider VanEck Africa very steady. VanEck Africa Index owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.11, which indicates the etf had a 0.11% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for VanEck Africa Index, which you can use to evaluate the volatility of the etf. Please validate VanEck Africa's Risk Adjusted Performance of 0.0626, coefficient of variation of 1083.3, and Semi Deviation of 1.26 to confirm if the risk estimate we provide is consistent with the expected return of 0.13%. The entity has a beta of 0.58, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, VanEck Africa's returns are expected to increase less than the market. However, during the bear market, the loss of holding VanEck Africa is expected to be smaller as well.
Auto-correlation | 0.37 |
Below average predictability
VanEck Africa Index has below average predictability. Overlapping area represents the amount of predictability between VanEck Africa time series from 6th of May 2022 to 1st of May 2023 and 1st of May 2023 to 25th of April 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 VanEck Africa Index price movement. The serial correlation of 0.37 indicates that just about 37.0% of current VanEck Africa price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.52 |
VanEck Africa Index lagged returns against current returns
Autocorrelation, which is VanEck Africa 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 VanEck Africa's etf expected returns. We can calculate the autocorrelation of VanEck Africa returns to help us make a trade decision. For example, suppose you find that VanEck Africa 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 |
VanEck Africa 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 VanEck Africa etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck Africa etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck Africa etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck Africa Lagged Returns
When evaluating VanEck Africa's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck Africa etf have on its future price. VanEck Africa 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, VanEck Africa autocorrelation shows the relationship between VanEck Africa etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck Africa Index.
Regressed Prices |
| Timeline |
Pair Trading with VanEck Africa
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 VanEck Africa 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 VanEck Africa will appreciate offsetting losses from the drop in the long position's value.Moving together with VanEck Etf
| 0.67 | BBCA | JPMorgan BetaBuilders | PairCorr |
| 0.7 | EWC | iShares MSCI Canada | PairCorr |
| 0.83 | EWU | iShares MSCI United Sell-off Trend | PairCorr |
Moving against VanEck Etf
| 0.83 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
| 0.76 | HUM | Humana Inc Financial Report 7th of August 2024 | PairCorr |
| 0.6 | SMI | VanEck Vectors ETF | PairCorr |
The ability to find closely correlated positions to VanEck Africa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VanEck Africa 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 VanEck Africa - 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 VanEck Africa Index to buy it.
The correlation of VanEck Africa 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 VanEck Africa moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Africa Index 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 VanEck Africa 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 VanEck Africa Correlation, VanEck Africa Volatility and VanEck Africa Alpha and Beta module to complement your research on VanEck Africa. Note that the VanEck Africa Index information on this page should be used as a complementary analysis to other VanEck Africa's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
VanEck Africa 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.