Proshares Ultra Silver Etf Market Value
| AGQ Etf | USD 36.87 0.19 0.52% |
| Symbol | ProShares |
The market value of ProShares Ultra Silver is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Ultra's value that differs from its market value or its book value, called intrinsic value, which is ProShares Ultra'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 ProShares Ultra's market value can be influenced by many factors that don't directly affect ProShares Ultra'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 ProShares Ultra's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Ultra is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Ultra'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.
ProShares Ultra '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 ProShares Ultra'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 ProShares Ultra.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in ProShares Ultra on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Ultra Silver or generate 0.0% return on investment in ProShares Ultra over 30 days. ProShares Ultra is related to or competes with ProShares Ultra, ProShares UltraShort, DB Gold, ProShares UltraShort, and VanEck Junior. The fund seeks to meet its investment objective by investing, under normal market conditions, in any one of, or combinat... More
ProShares Ultra 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 ProShares Ultra'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 ProShares Ultra Silver upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.79 | |||
| Information Ratio | 0.166 | |||
| Maximum Drawdown | 12.9 | |||
| Value At Risk | (4.67) | |||
| Potential Upside | 6.32 |
ProShares Ultra Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Ultra's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Ultra's standard deviation. In reality, there are many statistical measures that can use ProShares Ultra historical prices to predict the future ProShares Ultra's volatility.| Risk Adjusted Performance | 0.1237 | |||
| Jensen Alpha | 0.6762 | |||
| Total Risk Alpha | 0.2904 | |||
| Sortino Ratio | 0.1934 | |||
| Treynor Ratio | (0.45) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Ultra'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.
ProShares Ultra Silver Backtested Returns
ProShares Ultra appears to be very steady, given 3 months investment horizon. ProShares Ultra Silver maintains Sharpe Ratio (i.e., Efficiency) of 0.25, which implies the entity had a 0.25% return per unit of risk over the last 3 months. By analyzing ProShares Ultra's technical indicators, you can evaluate if the expected return of 0.81% is justified by implied risk. Please evaluate ProShares Ultra's Semi Deviation of 2.5, coefficient of variation of 534.47, and Risk Adjusted Performance of 0.1237 to confirm if our risk estimates are consistent with your expectations. The etf holds a Beta of -1.32, which implies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning ProShares Ultra are expected to decrease by larger amounts. On the other hand, during market turmoil, ProShares Ultra is expected to outperform it.
Auto-correlation | 0.13 |
Insignificant predictability
ProShares Ultra Silver has insignificant predictability. Overlapping area represents the amount of predictability between ProShares Ultra time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 ProShares Ultra Silver price movement. The serial correlation of 0.13 indicates that less than 13.0% of current ProShares Ultra price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.13 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 1.76 |
ProShares Ultra Silver lagged returns against current returns
Autocorrelation, which is ProShares Ultra 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 ProShares Ultra's etf expected returns. We can calculate the autocorrelation of ProShares Ultra returns to help us make a trade decision. For example, suppose you find that ProShares Ultra 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 |
ProShares Ultra 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 ProShares Ultra etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Ultra etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Ultra etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Ultra Lagged Returns
When evaluating ProShares Ultra's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Ultra etf have on its future price. ProShares Ultra 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, ProShares Ultra autocorrelation shows the relationship between ProShares Ultra etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Ultra Silver.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards ProShares Ultra in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, ProShares Ultra's short interest history, or implied volatility extrapolated from ProShares Ultra options trading.
Pair Trading with ProShares Ultra
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 ProShares Ultra 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 ProShares Ultra will appreciate offsetting losses from the drop in the long position's value.Moving together with ProShares Etf
| 0.96 | UGL | ProShares Ultra Gold | PairCorr |
| 0.96 | DGP | DB Gold Double | PairCorr |
| 0.94 | GDXU | MicroSectors Gold Miners | PairCorr |
The ability to find closely correlated positions to ProShares Ultra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Ultra 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 ProShares Ultra - 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 ProShares Ultra Silver to buy it.
The correlation of ProShares Ultra 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 ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Silver 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 ProShares Ultra 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 ProShares Ultra Correlation, ProShares Ultra Volatility and ProShares Ultra Alpha and Beta module to complement your research on ProShares Ultra. Note that the ProShares Ultra Silver information on this page should be used as a complementary analysis to other ProShares Ultra'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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
ProShares Ultra 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.