Spdr Sp Homebuilders Etf Market Value
| XHB Etf | USD 103.62 2.69 2.67% |
| Symbol | SPDR |
The market value of SPDR SP Homebuilders is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR SP's value that differs from its market value or its book value, called intrinsic value, which is SPDR SP'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 SPDR SP's market value can be influenced by many factors that don't directly affect SPDR SP'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 SPDR SP's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR SP is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR SP'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.
SPDR SP '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 SPDR SP'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 SPDR SP.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in SPDR SP on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding SPDR SP Homebuilders or generate 0.0% return on investment in SPDR SP over 30 days. SPDR SP is related to or competes with SPDR SP, Industrial Select, and Materials Select. In seeking to track the performance of the SP Homebuilders Select Industry Index , the fund employs a sampling strategy More
SPDR SP 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 SPDR SP'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 SPDR SP Homebuilders upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.56 | |||
| Information Ratio | 0.0134 | |||
| Maximum Drawdown | 6.24 | |||
| Value At Risk | (2.07) | |||
| Potential Upside | 1.84 |
SPDR SP Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR SP's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR SP's standard deviation. In reality, there are many statistical measures that can use SPDR SP historical prices to predict the future SPDR SP's volatility.| Risk Adjusted Performance | 0.0538 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | 0.0118 | |||
| Treynor Ratio | 0.055 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR SP'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.
SPDR SP Homebuilders Backtested Returns
We consider SPDR SP very steady. SPDR SP Homebuilders owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.14, which indicates the etf had a 0.14% return per unit of volatility over the last 3 months. We have found twenty-eight technical indicators for SPDR SP Homebuilders, which you can use to evaluate the volatility of the etf. Please validate SPDR SP's coefficient of variation of 1274.61, and Risk Adjusted Performance of 0.0538 to confirm if the risk estimate we provide is consistent with the expected return of 0.19%. The entity has a beta of 1.78, which indicates 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, SPDR SP will likely underperform.
Auto-correlation | 0.52 |
Modest predictability
SPDR SP Homebuilders has modest predictability. Overlapping area represents the amount of predictability between SPDR SP 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 SPDR SP Homebuilders price movement. The serial correlation of 0.52 indicates that about 52.0% of current SPDR SP price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 8.25 |
SPDR SP Homebuilders lagged returns against current returns
Autocorrelation, which is SPDR SP 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 SPDR SP's etf expected returns. We can calculate the autocorrelation of SPDR SP returns to help us make a trade decision. For example, suppose you find that SPDR SP 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 |
SPDR SP 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 SPDR SP etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR SP etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR SP etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR SP Lagged Returns
When evaluating SPDR SP's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR SP etf have on its future price. SPDR SP 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, SPDR SP autocorrelation shows the relationship between SPDR SP etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR SP Homebuilders.
Regressed Prices |
| Timeline |
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 SPDR SP Homebuilders offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of SPDR SP's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Spdr Sp Homebuilders Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Spdr Sp Homebuilders Etf:Check out SPDR SP Correlation, SPDR SP Volatility and SPDR SP Alpha and Beta module to complement your research on SPDR SP. Note that the SPDR SP Homebuilders information on this page should be used as a complementary analysis to other SPDR SP'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 Global Correlations module to find global opportunities by holding instruments from different markets.
SPDR SP 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.