Change Finance Diversified Etf Market Value
| CHGX Etf | USD 34.70 0.11 0.32% |
| Symbol | Change |
The market value of Change Finance Diver is measured differently than its book value, which is the value of Change that is recorded on the company's balance sheet. Investors also form their own opinion of Change Finance's value that differs from its market value or its book value, called intrinsic value, which is Change Finance'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 Change Finance's market value can be influenced by many factors that don't directly affect Change Finance'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 Change Finance's value and its price as these two are different measures arrived at by different means. Investors typically determine if Change Finance is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Change Finance'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.
Change Finance '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 Change Finance'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 Change Finance.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Change Finance on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Change Finance Diversified or generate 0.0% return on investment in Change Finance over 30 days. Change Finance is related to or competes with SPDR MSCI, SPDR MSCI, SPDR Russell, and SPDR Russell. The index measures the performance of an equal-weighted portfolio of approximately 100 large-, mid-capitalization equity... More
Change Finance 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 Change Finance'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 Change Finance Diversified upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8089 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 3.83 | |||
| Value At Risk | (1.39) | |||
| Potential Upside | 1.01 |
Change Finance Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Change Finance's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Change Finance's standard deviation. In reality, there are many statistical measures that can use Change Finance historical prices to predict the future Change Finance's volatility.| Risk Adjusted Performance | 0.0275 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.08) | |||
| Treynor Ratio | 0.0202 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Change Finance'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.
Change Finance Diver Backtested Returns
We consider Change Finance very steady. Change Finance Diver secures Sharpe Ratio (or Efficiency) of 0.032, which signifies that the etf had a 0.032% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for Change Finance Diversified, which you can use to evaluate the volatility of the entity. Please confirm Change Finance's risk adjusted performance of 0.0275, and Mean Deviation of 0.6178 to double-check if the risk estimate we provide is consistent with the expected return of 0.0252%. The etf shows a Beta (market volatility) of 1.08, which signifies a somewhat significant risk relative to the market. Change Finance returns are very sensitive to returns on the market. As the market goes up or down, Change Finance is expected to follow.
Auto-correlation | 0.54 |
Modest predictability
Change Finance Diversified has modest predictability. Overlapping area represents the amount of predictability between Change Finance time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 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 Change Finance Diver price movement. The serial correlation of 0.54 indicates that about 54.0% of current Change Finance price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Change Finance Diver lagged returns against current returns
Autocorrelation, which is Change Finance 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 Change Finance's etf expected returns. We can calculate the autocorrelation of Change Finance returns to help us make a trade decision. For example, suppose you find that Change Finance 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 |
Change Finance 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 Change Finance etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Change Finance etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Change Finance etf over time.
Current vs Lagged Prices |
| Timeline |
Change Finance Lagged Returns
When evaluating Change Finance's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Change Finance etf have on its future price. Change Finance 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, Change Finance autocorrelation shows the relationship between Change Finance etf current value and its past values and can show if there is a momentum factor associated with investing in Change Finance Diversified.
Regressed Prices |
| Timeline |
Pair Trading with Change Finance
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 Change Finance 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 Change Finance will appreciate offsetting losses from the drop in the long position's value.Moving together with Change Etf
| 0.94 | VTI | Vanguard Total Stock | PairCorr |
| 0.9 | SPY | SPDR SP 500 Sell-off Trend | PairCorr |
| 0.93 | IVV | iShares Core SP Sell-off Trend | PairCorr |
| 0.92 | VIG | Vanguard Dividend | PairCorr |
| 0.9 | VV | Vanguard Large Cap | PairCorr |
The ability to find closely correlated positions to Change Finance could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Change Finance 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 Change Finance - 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 Change Finance Diversified to buy it.
The correlation of Change Finance 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 Change Finance moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Change Finance Diver 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 Change Finance 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 Change Finance Correlation, Change Finance Volatility and Change Finance Alpha and Beta module to complement your research on Change Finance. Note that the Change Finance Diver information on this page should be used as a complementary analysis to other Change Finance'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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Change Finance 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.