Ishares Basic Materials Etf Market Value
| IYM Etf | USD 142.05 0.18 0.13% |
| Symbol | IShares |
The market value of iShares Basic Materials is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares Basic's value that differs from its market value or its book value, called intrinsic value, which is IShares Basic'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 IShares Basic's market value can be influenced by many factors that don't directly affect IShares Basic'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 IShares Basic's value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares Basic is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares Basic'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.
IShares Basic '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 IShares Basic'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 IShares Basic.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in IShares Basic on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding iShares Basic Materials or generate 0.0% return on investment in IShares Basic over 30 days. IShares Basic is related to or competes with SPDR SP, SPDR SP, and SPDR SP. The fund generally will invest at least 80 percent of its assets in the component securities of its underlying index and... More
IShares Basic 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 IShares Basic'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 iShares Basic Materials upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9832 | |||
| Information Ratio | 0.0533 | |||
| Maximum Drawdown | 4.25 | |||
| Value At Risk | (1.41) | |||
| Potential Upside | 1.46 |
IShares Basic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares Basic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares Basic's standard deviation. In reality, there are many statistical measures that can use IShares Basic historical prices to predict the future IShares Basic's volatility.| Risk Adjusted Performance | 0.0947 | |||
| Jensen Alpha | 0.0324 | |||
| Total Risk Alpha | 0.0136 | |||
| Sortino Ratio | 0.0479 | |||
| Treynor Ratio | 0.1025 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of IShares Basic'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.
iShares Basic Materials Backtested Returns
We consider IShares Basic very steady. iShares Basic Materials holds Efficiency (Sharpe) Ratio of 0.14, which attests that the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for iShares Basic Materials, which you can use to evaluate the volatility of the entity. Please check out IShares Basic's Market Risk Adjusted Performance of 0.1125, downside deviation of 0.9832, and Risk Adjusted Performance of 0.0947 to validate if the risk estimate we provide is consistent with the expected return of 0.13%. The etf retains a Market Volatility (i.e., Beta) of 1.2, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, IShares Basic will likely underperform.
Auto-correlation | -0.83 |
Excellent reverse predictability
iShares Basic Materials has excellent reverse predictability. Overlapping area represents the amount of predictability between IShares Basic time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd 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 iShares Basic Materials price movement. The serial correlation of -0.83 indicates that around 83.0% of current IShares Basic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 6.95 |
iShares Basic Materials lagged returns against current returns
Autocorrelation, which is IShares Basic 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 IShares Basic's etf expected returns. We can calculate the autocorrelation of IShares Basic returns to help us make a trade decision. For example, suppose you find that IShares Basic 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 |
IShares Basic 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 IShares Basic etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares Basic etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares Basic etf over time.
Current vs Lagged Prices |
| Timeline |
IShares Basic Lagged Returns
When evaluating IShares Basic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares Basic etf have on its future price. IShares Basic 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, IShares Basic autocorrelation shows the relationship between IShares Basic etf current value and its past values and can show if there is a momentum factor associated with investing in iShares Basic Materials.
Regressed Prices |
| Timeline |
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