Microsectorstm Oil Gas Etf Market Value
OILD Etf | USD 14.06 0.43 2.97% |
Symbol | MicroSectorsTM |
The market value of MicroSectorsTM Oil Gas is measured differently than its book value, which is the value of MicroSectorsTM that is recorded on the company's balance sheet. Investors also form their own opinion of MicroSectorsTM Oil's value that differs from its market value or its book value, called intrinsic value, which is MicroSectorsTM Oil'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 MicroSectorsTM Oil's market value can be influenced by many factors that don't directly affect MicroSectorsTM Oil'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 MicroSectorsTM Oil's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectorsTM Oil is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectorsTM Oil'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.
MicroSectorsTM Oil '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 MicroSectorsTM Oil'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 MicroSectorsTM Oil.
02/28/2024 |
| 03/29/2024 |
If you would invest 0.00 in MicroSectorsTM Oil on February 28, 2024 and sell it all today you would earn a total of 0.00 from holding MicroSectorsTM Oil Gas or generate 0.0% return on investment in MicroSectorsTM Oil over 30 days. MicroSectorsTM Oil is related to or competes with Drum Income, EA Series, Global X, ETRACS Quarterly, Global X, UBS AG, and VanEck Energy. Microsectors Oil is traded on NYSEARCA Exchange in the United States. More
MicroSectorsTM Oil 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 MicroSectorsTM Oil'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 MicroSectorsTM Oil Gas upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.23) | |||
Maximum Drawdown | 15.6 | |||
Value At Risk | (4.47) | |||
Potential Upside | 4.8 |
MicroSectorsTM Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MicroSectorsTM Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MicroSectorsTM Oil's standard deviation. In reality, there are many statistical measures that can use MicroSectorsTM Oil historical prices to predict the future MicroSectorsTM Oil's volatility.Risk Adjusted Performance | (0.1) | |||
Jensen Alpha | (0.33) | |||
Total Risk Alpha | (1.25) | |||
Treynor Ratio | 0.2927 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of MicroSectorsTM Oil'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.
MicroSectorsTM Oil Gas Backtested Returns
MicroSectorsTM Oil Gas has Sharpe Ratio of -0.17, which conveys that the entity had a -0.17% return per unit of risk over the last 3 months. MicroSectorsTM Oil exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MicroSectorsTM Oil's Mean Deviation of 2.27, standard deviation of 3.0, and Risk Adjusted Performance of (0.1) to check out the risk estimate we provide. The etf secures a Beta (Market Risk) of -1.95, which conveys a somewhat significant risk relative to the market. As returns on the market increase, returns on owning MicroSectorsTM Oil are expected to decrease by larger amounts. On the other hand, during market turmoil, MicroSectorsTM Oil is expected to outperform it.
Auto-correlation | 0.85 |
Very good predictability
MicroSectorsTM Oil Gas has very good predictability. Overlapping area represents the amount of predictability between MicroSectorsTM Oil time series from 28th of February 2024 to 14th of March 2024 and 14th of March 2024 to 29th of March 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 MicroSectorsTM Oil Gas price movement. The serial correlation of 0.85 indicates that around 85.0% of current MicroSectorsTM Oil price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.85 | |
Spearman Rank Test | 0.86 | |
Residual Average | 0.0 | |
Price Variance | 0.26 |
MicroSectorsTM Oil Gas lagged returns against current returns
Autocorrelation, which is MicroSectorsTM Oil 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 MicroSectorsTM Oil's etf expected returns. We can calculate the autocorrelation of MicroSectorsTM Oil returns to help us make a trade decision. For example, suppose you find that MicroSectorsTM Oil 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 |
MicroSectorsTM Oil 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 MicroSectorsTM Oil etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MicroSectorsTM Oil etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MicroSectorsTM Oil etf over time.
Current vs Lagged Prices |
Timeline |
MicroSectorsTM Oil Lagged Returns
When evaluating MicroSectorsTM Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MicroSectorsTM Oil etf have on its future price. MicroSectorsTM Oil 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, MicroSectorsTM Oil autocorrelation shows the relationship between MicroSectorsTM Oil etf current value and its past values and can show if there is a momentum factor associated with investing in MicroSectorsTM Oil Gas.
Regressed Prices |
Timeline |
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Complementary Tools for MicroSectorsTM Etf analysis
When running MicroSectorsTM Oil's price analysis, check to measure MicroSectorsTM Oil's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy MicroSectorsTM Oil is operating at the current time. Most of MicroSectorsTM Oil's value examination focuses on studying past and present price action to predict the probability of MicroSectorsTM Oil's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MicroSectorsTM Oil's price. Additionally, you may evaluate how the addition of MicroSectorsTM Oil to your portfolios can decrease your overall portfolio volatility.
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MicroSectorsTM Oil 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.