Vaneck Steel Etf Market Value
| SLX Etf | USD 70.06 0.40 0.57% |
| Symbol | VanEck |
The market value of VanEck Steel ETF is measured differently than its book value, which is the value of VanEck that is recorded on the company's balance sheet. Investors also form their own opinion of VanEck Steel's value that differs from its market value or its book value, called intrinsic value, which is VanEck Steel'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 VanEck Steel's market value can be influenced by many factors that don't directly affect VanEck Steel'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 VanEck Steel's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Steel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Steel'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.
VanEck Steel '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 VanEck Steel'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 VanEck Steel.
| 01/06/2023 |
| 04/30/2024 |
If you would invest 0.00 in VanEck Steel on January 6, 2023 and sell it all today you would earn a total of 0.00 from holding VanEck Steel ETF or generate 0.0% return on investment in VanEck Steel over 480 days. VanEck Steel is related to or competes with Vanguard Industrials, Vanguard Communication, Vanguard Consumer, Vanguard Consumer, and Vanguard Utilities. The fund normally invests at least 80 percent of its total assets in common stocks and depositary receipts of companies ... More
VanEck Steel 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 VanEck Steel'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 VanEck Steel ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.34 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 4.77 | |||
| Value At Risk | (2.04) | |||
| Potential Upside | 1.69 |
VanEck Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck Steel's standard deviation. In reality, there are many statistical measures that can use VanEck Steel historical prices to predict the future VanEck Steel's volatility.| Risk Adjusted Performance | 0.0151 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0363 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck Steel'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.
VanEck Steel ETF Backtested Returns
We consider VanEck Steel very steady. VanEck Steel ETF owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0104, which indicates the etf had a 0.0104% return per unit of risk over the last 3 months. We have found thirty technical indicators for VanEck Steel ETF, which you can use to evaluate the volatility of the etf. Please validate VanEck Steel's Semi Deviation of 1.23, risk adjusted performance of 0.0151, and Coefficient Of Variation of 5718.57 to confirm if the risk estimate we provide is consistent with the expected return of 0.0111%. The entity has a beta of 0.24, which indicates not very significant fluctuations relative to the market. As returns on the market increase, VanEck Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding VanEck Steel is expected to be smaller as well.
Auto-correlation | -0.28 |
Weak reverse predictability
VanEck Steel ETF has weak reverse predictability. Overlapping area represents the amount of predictability between VanEck Steel time series from 6th of January 2023 to 3rd of September 2023 and 3rd of September 2023 to 30th 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 VanEck Steel ETF price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current VanEck Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 16.33 |
VanEck Steel ETF lagged returns against current returns
Autocorrelation, which is VanEck Steel 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 VanEck Steel's etf expected returns. We can calculate the autocorrelation of VanEck Steel returns to help us make a trade decision. For example, suppose you find that VanEck Steel 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 |
VanEck Steel 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 VanEck Steel etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck Steel etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck Steel etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck Steel Lagged Returns
When evaluating VanEck Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck Steel etf have on its future price. VanEck Steel 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, VanEck Steel autocorrelation shows the relationship between VanEck Steel etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck Steel ETF.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
When determining whether VanEck Steel ETF offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of VanEck Steel'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 Vaneck Steel Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Vaneck Steel Etf:Check out VanEck Steel Correlation, VanEck Steel Volatility and VanEck Steel Alpha and Beta module to complement your research on VanEck Steel. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
VanEck Steel 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.