Vaneck Gold Miners Etf Market Value
| GDX Etf | USD 34.07 0.32 0.95% |
| Symbol | VanEck |
The market value of VanEck Gold Miners 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 Gold's value that differs from its market value or its book value, called intrinsic value, which is VanEck Gold'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 Gold's market value can be influenced by many factors that don't directly affect VanEck Gold'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 Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Gold'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 Gold '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 Gold'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 Gold.
| 06/30/2022 |
| 04/20/2024 |
If you would invest 0.00 in VanEck Gold on June 30, 2022 and sell it all today you would earn a total of 0.00 from holding VanEck Gold Miners or generate 0.0% return on investment in VanEck Gold over 660 days. VanEck Gold is related to or competes with VanEck Junior, IShares Silver, SPDR Gold, Newmont Goldcorp, and Direxion Daily. The fund normally invests at least 80 percent of its total assets in common stocks and depositary receipts of companies ... More
VanEck Gold 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 Gold'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 Gold Miners upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.78 | |||
| Information Ratio | 0.1322 | |||
| Maximum Drawdown | 9.03 | |||
| Value At Risk | (2.36) | |||
| Potential Upside | 3.72 |
VanEck Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck Gold's standard deviation. In reality, there are many statistical measures that can use VanEck Gold historical prices to predict the future VanEck Gold's volatility.| Risk Adjusted Performance | 0.115 | |||
| Jensen Alpha | 0.3125 | |||
| Total Risk Alpha | 0.0926 | |||
| Sortino Ratio | 0.1418 | |||
| Treynor Ratio | 1.58 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck Gold'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 Gold Miners Backtested Returns
VanEck Gold appears to be very steady, given 3 months investment horizon. VanEck Gold Miners owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.18, which indicates the etf had a 0.18% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for VanEck Gold Miners, which you can use to evaluate the volatility of the etf. Please review VanEck Gold's Semi Deviation of 1.5, risk adjusted performance of 0.115, and Coefficient Of Variation of 565.38 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 0.21, which indicates not very significant fluctuations relative to the market. As returns on the market increase, VanEck Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding VanEck Gold is expected to be smaller as well.
Auto-correlation | 0.34 |
Below average predictability
VanEck Gold Miners has below average predictability. Overlapping area represents the amount of predictability between VanEck Gold time series from 30th of June 2022 to 26th of May 2023 and 26th of May 2023 to 20th 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 Gold Miners price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current VanEck Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 3.52 |
VanEck Gold Miners lagged returns against current returns
Autocorrelation, which is VanEck Gold 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 Gold's etf expected returns. We can calculate the autocorrelation of VanEck Gold returns to help us make a trade decision. For example, suppose you find that VanEck Gold 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 Gold 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 Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck Gold etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck Gold Lagged Returns
When evaluating VanEck Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck Gold etf have on its future price. VanEck Gold 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 Gold autocorrelation shows the relationship between VanEck Gold etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck Gold Miners.
Regressed Prices |
| Timeline |
Building efficient market-beating portfolios requires time, education, and a lot of computing power!
The Portfolio Architect is an AI-driven system that provides multiple benefits to our users by leveraging cutting-edge machine learning algorithms, statistical analysis, and predictive modeling to automate the process of asset selection and portfolio construction, saving time and reducing human error for individual and institutional investors.
Try AI Portfolio ArchitectCheck out VanEck Gold Correlation, VanEck Gold Volatility and VanEck Gold Alpha and Beta module to complement your research on VanEck Gold. Note that the VanEck Gold Miners information on this page should be used as a complementary analysis to other VanEck Gold'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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
VanEck Gold 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.