Pacer Cash Cows Etf Market Value
| COWZ Etf | USD 55.57 0.07 0.13% |
| Symbol | Pacer |
The market value of Pacer Cash Cows is measured differently than its book value, which is the value of Pacer that is recorded on the company's balance sheet. Investors also form their own opinion of Pacer Cash's value that differs from its market value or its book value, called intrinsic value, which is Pacer Cash'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 Pacer Cash's market value can be influenced by many factors that don't directly affect Pacer Cash'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 Pacer Cash's value and its price as these two are different measures arrived at by different means. Investors typically determine if Pacer Cash is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Pacer Cash'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.
Pacer Cash '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 Pacer Cash'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 Pacer Cash.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Pacer Cash on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Pacer Cash Cows or generate 0.0% return on investment in Pacer Cash over 30 days. Pacer Cash is related to or competes with SPDR Russell, SPDR MSCI, SPDR MSCI, and SPDR SSGA. Under normal circumstances, at least 80 percent of the funds total assets will be invested in the component securities o... More
Pacer Cash 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 Pacer Cash'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 Pacer Cash Cows upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7544 | |||
| Information Ratio | 0.0418 | |||
| Maximum Drawdown | 3.33 | |||
| Value At Risk | (1.25) | |||
| Potential Upside | 1.17 |
Pacer Cash Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pacer Cash's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pacer Cash's standard deviation. In reality, there are many statistical measures that can use Pacer Cash historical prices to predict the future Pacer Cash's volatility.| Risk Adjusted Performance | 0.1092 | |||
| Jensen Alpha | 0.0888 | |||
| Total Risk Alpha | 0.0162 | |||
| Sortino Ratio | 0.0403 | |||
| Treynor Ratio | 0.3662 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pacer Cash'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.
Pacer Cash Cows Backtested Returns
We consider Pacer Cash very steady. Pacer Cash Cows maintains Sharpe Ratio (i.e., Efficiency) of 0.16, which implies the entity had a 0.16% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Pacer Cash Cows, which you can use to evaluate the volatility of the etf. Please check Pacer Cash's Semi Deviation of 0.5744, risk adjusted performance of 0.1092, and Coefficient Of Variation of 578.4 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. The etf holds a Beta of 0.32, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Pacer Cash's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pacer Cash is expected to be smaller as well.
Auto-correlation | -0.48 |
Modest reverse predictability
Pacer Cash Cows has modest reverse predictability. Overlapping area represents the amount of predictability between Pacer Cash 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 Pacer Cash Cows price movement. The serial correlation of -0.48 indicates that about 48.0% of current Pacer Cash price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | 0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.5 |
Pacer Cash Cows lagged returns against current returns
Autocorrelation, which is Pacer Cash 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 Pacer Cash's etf expected returns. We can calculate the autocorrelation of Pacer Cash returns to help us make a trade decision. For example, suppose you find that Pacer Cash 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 |
Pacer Cash 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 Pacer Cash etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pacer Cash etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pacer Cash etf over time.
Current vs Lagged Prices |
| Timeline |
Pacer Cash Lagged Returns
When evaluating Pacer Cash's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pacer Cash etf have on its future price. Pacer Cash 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, Pacer Cash autocorrelation shows the relationship between Pacer Cash etf current value and its past values and can show if there is a momentum factor associated with investing in Pacer Cash Cows.
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 Pacer Cash 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, Pacer Cash's short interest history, or implied volatility extrapolated from Pacer Cash options trading.
Pair Trading with Pacer Cash
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 Pacer Cash 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 Pacer Cash will appreciate offsetting losses from the drop in the long position's value.Moving together with Pacer Etf
| 0.97 | VOE | Vanguard Mid Cap | PairCorr |
| 0.96 | SDY | SPDR SP Dividend | PairCorr |
| 0.95 | IWS | iShares Russell Mid | PairCorr |
| 0.78 | IJJ | iShares SP Mid | PairCorr |
Moving against Pacer Etf
| 0.91 | WTID | UBS ETRACS | PairCorr |
The ability to find closely correlated positions to Pacer Cash could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pacer Cash 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 Pacer Cash - 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 Pacer Cash Cows to buy it.
The correlation of Pacer Cash 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 Pacer Cash moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pacer Cash Cows 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 Pacer Cash 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 Pacer Cash Correlation, Pacer Cash Volatility and Pacer Cash Alpha and Beta module to complement your research on Pacer Cash. You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Pacer Cash 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.