Proshares Ultrapro Short Etf Market Value
| SPXU Etf | USD 37.07 0.69 1.90% |
| Symbol | ProShares |
The market value of ProShares UltraPro Short 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 UltraPro's value that differs from its market value or its book value, called intrinsic value, which is ProShares UltraPro'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 UltraPro's market value can be influenced by many factors that don't directly affect ProShares UltraPro'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 UltraPro's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares UltraPro is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares UltraPro'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 UltraPro '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 UltraPro'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 UltraPro.
| 04/28/2022 |
| 04/17/2024 |
If you would invest 0.00 in ProShares UltraPro on April 28, 2022 and sell it all today you would earn a total of 0.00 from holding ProShares UltraPro Short or generate 0.0% return on investment in ProShares UltraPro over 720 days. ProShares UltraPro is related to or competes with ProShares UltraPro, ProShares UltraPro, ProShares UltraPro, Direxion Daily, and ProShares UltraPro. The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns ... More
ProShares UltraPro 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 UltraPro'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 UltraPro Short upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 10.83 | |||
| Value At Risk | (3.40) | |||
| Potential Upside | 3.78 |
ProShares UltraPro Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares UltraPro's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares UltraPro's standard deviation. In reality, there are many statistical measures that can use ProShares UltraPro historical prices to predict the future ProShares UltraPro's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | 0.0721 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares UltraPro'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 UltraPro Short Backtested Returns
ProShares UltraPro Short maintains Sharpe Ratio (i.e., Efficiency) of -0.0985, which implies the entity had a -0.0985% return per unit of risk over the last 3 months. ProShares UltraPro Short exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check ProShares UltraPro's Coefficient Of Variation of (1,071), risk adjusted performance of (0.05), and Variance of 4.6 to confirm the risk estimate we provide. The etf holds a Beta of -2.92, which implies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning ProShares UltraPro are expected to decrease by larger amounts. On the other hand, during market turmoil, ProShares UltraPro is expected to outperform it.
Auto-correlation | 0.64 |
Good predictability
ProShares UltraPro Short has good predictability. Overlapping area represents the amount of predictability between ProShares UltraPro time series from 28th of April 2022 to 23rd of April 2023 and 23rd of April 2023 to 17th 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 UltraPro Short price movement. The serial correlation of 0.64 indicates that roughly 64.0% of current ProShares UltraPro price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.64 | |
| Spearman Rank Test | 0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 96.59 |
ProShares UltraPro Short lagged returns against current returns
Autocorrelation, which is ProShares UltraPro 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 UltraPro's etf expected returns. We can calculate the autocorrelation of ProShares UltraPro returns to help us make a trade decision. For example, suppose you find that ProShares UltraPro 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 UltraPro 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 UltraPro etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares UltraPro etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares UltraPro etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares UltraPro Lagged Returns
When evaluating ProShares UltraPro's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares UltraPro etf have on its future price. ProShares UltraPro 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 UltraPro autocorrelation shows the relationship between ProShares UltraPro etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares UltraPro Short.
Regressed Prices |
| Timeline |
ProShares UltraPro Implied Volatility | 73.8 |
ProShares UltraPro's implied volatility exposes the market's sentiment of ProShares UltraPro Short stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if ProShares UltraPro's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that ProShares UltraPro stock will not fluctuate a lot when ProShares UltraPro's options are near their expiration.
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 UltraPro 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 UltraPro's short interest history, or implied volatility extrapolated from ProShares UltraPro options trading.
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Check out ProShares UltraPro Correlation, ProShares UltraPro Volatility and ProShares UltraPro Alpha and Beta module to complement your research on ProShares UltraPro. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
ProShares UltraPro 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.