Proshares Short Qqq Etf Market Value
| PSQ Etf | USD 46.61 0.45 0.96% |
| Symbol | ProShares |
The market value of ProShares Short QQQ is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Short's value that differs from its market value or its book value, called intrinsic value, which is ProShares Short'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 ProShares Short's market value can be influenced by many factors that don't directly affect ProShares Short'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 ProShares Short's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Short is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Short'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.
ProShares Short '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 ProShares Short'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 ProShares Short.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in ProShares Short on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Short QQQ or generate 0.0% return on investment in ProShares Short over 30 days. ProShares Short is related to or competes with Direxion Daily, and Direxion Daily. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns ... More
ProShares Short 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 ProShares Short'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 ProShares Short QQQ upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 15.44 | |||
| Information Ratio | 0.095 | |||
| Maximum Drawdown | 401.0 | |||
| Value At Risk | (1.57) | |||
| Potential Upside | 1.7 |
ProShares Short Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Short's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Short's standard deviation. In reality, there are many statistical measures that can use ProShares Short historical prices to predict the future ProShares Short's volatility.| Risk Adjusted Performance | 0.069 | |||
| Jensen Alpha | 5.69 | |||
| Total Risk Alpha | (1.34) | |||
| Sortino Ratio | 0.3094 | |||
| Treynor Ratio | (0.44) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Short'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.
ProShares Short QQQ Backtested Returns
ProShares Short is out of control given 3 months investment horizon. ProShares Short QQQ maintains Sharpe Ratio (i.e., Efficiency) of 0.0996, which implies the entity had a 0.0996% return per unit of risk over the last 3 months. We are able to interpolate and collect twenty-eight different technical indicators, which can help you to evaluate if expected returns of 5.13% are justified by taking the suggested risk. Use ProShares Short Coefficient Of Variation of 1034.47, risk adjusted performance of 0.069, and Semi Deviation of 9.81 to evaluate company specific risk that cannot be diversified away. The etf holds a Beta of -11.1, which implies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning ProShares Short are expected to decrease by larger amounts. On the other hand, during market turmoil, ProShares Short is expected to outperform it.
Auto-correlation | 0.23 |
Weak predictability
ProShares Short QQQ has weak predictability. Overlapping area represents the amount of predictability between ProShares Short 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 ProShares Short QQQ price movement. The serial correlation of 0.23 indicates that over 23.0% of current ProShares Short price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | 0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 1.08 |
ProShares Short QQQ lagged returns against current returns
Autocorrelation, which is ProShares Short 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 ProShares Short's etf expected returns. We can calculate the autocorrelation of ProShares Short returns to help us make a trade decision. For example, suppose you find that ProShares Short 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 |
ProShares Short 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 ProShares Short etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Short etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Short etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Short Lagged Returns
When evaluating ProShares Short's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Short etf have on its future price. ProShares Short 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, ProShares Short autocorrelation shows the relationship between ProShares Short etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Short QQQ.
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 ProShares Short 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, ProShares Short's short interest history, or implied volatility extrapolated from ProShares Short options trading.
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Check out ProShares Short Correlation, ProShares Short Volatility and ProShares Short Alpha and Beta module to complement your research on ProShares Short. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
ProShares Short 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.