Communication Services Select Etf Market Value
| XLC Etf | USD 80.35 0.39 0.49% |
| Symbol | Communication |
The market value of Communication Services is measured differently than its book value, which is the value of Communication that is recorded on the company's balance sheet. Investors also form their own opinion of Communication Services' value that differs from its market value or its book value, called intrinsic value, which is Communication Services' 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 Communication Services' market value can be influenced by many factors that don't directly affect Communication Services' 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 Communication Services' value and its price as these two are different measures arrived at by different means. Investors typically determine if Communication Services is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Communication Services' 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.
Communication Services '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 Communication Services' 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 Communication Services.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Communication Services on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Communication Services Select or generate 0.0% return on investment in Communication Services over 30 days. Communication Services is related to or competes with IShares Consumer, IShares Industrials, IShares Utilities, IShares Consumer, and IShares Basic. Normally, the fund generally invests substantially all, but at least 95, of its total assets in the securities comprisin... More
Communication Services 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 Communication Services' 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 Communication Services Select upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9844 | |||
| Information Ratio | 0.0841 | |||
| Maximum Drawdown | 5.66 | |||
| Value At Risk | (1.45) | |||
| Potential Upside | 1.61 |
Communication Services Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Communication Services' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Communication Services' standard deviation. In reality, there are many statistical measures that can use Communication Services historical prices to predict the future Communication Services' volatility.| Risk Adjusted Performance | 0.0967 | |||
| Jensen Alpha | 0.1308 | |||
| Total Risk Alpha | 0.0474 | |||
| Sortino Ratio | 0.089 | |||
| Treynor Ratio | 0.5557 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Communication Services' 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.
Communication Services Backtested Returns
We consider Communication Services very steady. Communication Services secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that the etf had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Communication Services Select, which you can use to evaluate the volatility of the entity. Please confirm Communication Services' Mean Deviation of 0.7745, downside deviation of 0.9844, and Risk Adjusted Performance of 0.0967 to double-check if the risk estimate we provide is consistent with the expected return of 0.12%. The etf shows a Beta (market volatility) of 0.26, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Communication Services' returns are expected to increase less than the market. However, during the bear market, the loss of holding Communication Services is expected to be smaller as well.
Auto-correlation | -0.57 |
Good reverse predictability
Communication Services Select has good reverse predictability. Overlapping area represents the amount of predictability between Communication Services time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Communication Services price movement. The serial correlation of -0.57 indicates that roughly 57.0% of current Communication Services price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.57 | |
| Spearman Rank Test | -0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 1.12 |
Communication Services lagged returns against current returns
Autocorrelation, which is Communication Services 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 Communication Services' etf expected returns. We can calculate the autocorrelation of Communication Services returns to help us make a trade decision. For example, suppose you find that Communication Services 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 |
Communication Services 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 Communication Services etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Communication Services etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Communication Services etf over time.
Current vs Lagged Prices |
| Timeline |
Communication Services Lagged Returns
When evaluating Communication Services' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Communication Services etf have on its future price. Communication Services 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, Communication Services autocorrelation shows the relationship between Communication Services etf current value and its past values and can show if there is a momentum factor associated with investing in Communication Services Select.
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 Communication Services offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Communication Services' 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 Communication Services Select Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Communication Services Select Etf:Check out Communication Services Correlation, Communication Services Volatility and Communication Services Alpha and Beta module to complement your research on Communication Services. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Communication Services 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.