Proshares Ultra Gold Etf Market Value
| UGL Etf | USD 81.97 1.24 1.49% |
| Symbol | ProShares |
The market value of ProShares Ultra Gold 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 Ultra's value that differs from its market value or its book value, called intrinsic value, which is ProShares Ultra'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 Ultra's market value can be influenced by many factors that don't directly affect ProShares Ultra'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 Ultra's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Ultra is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Ultra'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 Ultra '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 Ultra'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 Ultra.
| 01/19/2024 |
| 04/18/2024 |
If you would invest 0.00 in ProShares Ultra on January 19, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Ultra Gold or generate 0.0% return on investment in ProShares Ultra over 90 days. ProShares Ultra is related to or competes with MicroSectors Gold, and UBS ETRACS. The fund seeks to meet its investment objective by investing, under normal market conditions, in any one of, or combinat... More
ProShares Ultra 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 Ultra'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 Ultra Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.34 | |||
| Information Ratio | 0.2336 | |||
| Maximum Drawdown | 6.4 | |||
| Value At Risk | (2.13) | |||
| Potential Upside | 3.37 |
ProShares Ultra Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Ultra's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Ultra's standard deviation. In reality, there are many statistical measures that can use ProShares Ultra historical prices to predict the future ProShares Ultra's volatility.| Risk Adjusted Performance | 0.1755 | |||
| Jensen Alpha | 0.366 | |||
| Total Risk Alpha | 0.2992 | |||
| Sortino Ratio | 0.2741 | |||
| Treynor Ratio | 0.4026 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Ultra'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 Ultra Gold Backtested Returns
ProShares Ultra appears to be very steady, given 3 months investment horizon. ProShares Ultra Gold maintains Sharpe Ratio (i.e., Efficiency) of 0.31, which implies the entity had a 0.31% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ProShares Ultra Gold, which you can use to evaluate the volatility of the etf. Please evaluate ProShares Ultra's Risk Adjusted Performance of 0.1755, semi deviation of 1.02, and Coefficient Of Variation of 371.88 to confirm if our risk estimates are consistent with your expectations. The etf holds a Beta of 1.02, which implies a somewhat significant risk relative to the market. ProShares Ultra returns are very sensitive to returns on the market. As the market goes up or down, ProShares Ultra is expected to follow.
Auto-correlation | 0.31 |
Below average predictability
ProShares Ultra Gold has below average predictability. Overlapping area represents the amount of predictability between ProShares Ultra time series from 19th of January 2024 to 4th of March 2024 and 4th of March 2024 to 18th 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 Ultra Gold price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current ProShares Ultra price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 28.6 |
ProShares Ultra Gold lagged returns against current returns
Autocorrelation, which is ProShares Ultra 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 Ultra's etf expected returns. We can calculate the autocorrelation of ProShares Ultra returns to help us make a trade decision. For example, suppose you find that ProShares Ultra 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 Ultra 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 Ultra etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Ultra etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Ultra etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Ultra Lagged Returns
When evaluating ProShares Ultra's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Ultra etf have on its future price. ProShares Ultra 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 Ultra autocorrelation shows the relationship between ProShares Ultra etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Ultra Gold.
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 Ultra 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 Ultra's short interest history, or implied volatility extrapolated from ProShares Ultra options trading.
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether ProShares Ultra Gold is a strong investment it is important to analyze ProShares Ultra's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact ProShares Ultra's future performance. For an informed investment choice regarding ProShares Etf, refer to the following important reports:Check out ProShares Ultra Correlation, ProShares Ultra Volatility and ProShares Ultra Alpha and Beta module to complement your research on ProShares Ultra. Note that the ProShares Ultra Gold information on this page should be used as a complementary analysis to other ProShares Ultra'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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
ProShares Ultra 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.