Davis Select Equity Etf Market Value
| DUSA Etf | USD 38.81 0.21 0.54% |
| Symbol | Davis |
The market value of Davis Select Equity is measured differently than its book value, which is the value of Davis that is recorded on the company's balance sheet. Investors also form their own opinion of Davis Select's value that differs from its market value or its book value, called intrinsic value, which is Davis Select'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 Davis Select's market value can be influenced by many factors that don't directly affect Davis Select'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 Davis Select's value and its price as these two are different measures arrived at by different means. Investors typically determine if Davis Select is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Davis Select'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.
Davis Select '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 Davis Select'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 Davis Select.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Davis Select on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Davis Select Equity or generate 0.0% return on investment in Davis Select over 30 days. Davis Select is related to or competes with Dimensional Targeted, Dimensional World, and Dimensional Small. Under normal market conditions, the fund will invest at least 80 percent of its net assets plus any borrowings for inves... More
Davis Select 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 Davis Select'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 Davis Select Equity upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8133 | |||
| Information Ratio | 0.1004 | |||
| Maximum Drawdown | 5.41 | |||
| Value At Risk | (1.29) | |||
| Potential Upside | 1.42 |
Davis Select Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Davis Select's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Davis Select's standard deviation. In reality, there are many statistical measures that can use Davis Select historical prices to predict the future Davis Select's volatility.| Risk Adjusted Performance | 0.1123 | |||
| Jensen Alpha | 0.0868 | |||
| Total Risk Alpha | 0.0636 | |||
| Sortino Ratio | 0.1111 | |||
| Treynor Ratio | 0.1405 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Davis Select'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.
Davis Select Equity Backtested Returns
We consider Davis Select very steady. Davis Select Equity secures Sharpe Ratio (or Efficiency) of 0.15, which denotes the etf had a 0.15% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Davis Select Equity, which you can use to evaluate the volatility of the entity. Please confirm Davis Select's Downside Deviation of 0.8133, mean deviation of 0.6841, and Coefficient Of Variation of 566.27 to check if the risk estimate we provide is consistent with the expected return of 0.13%. The etf shows a Beta (market volatility) of 1.06, which means a somewhat significant risk relative to the market. Davis Select returns are very sensitive to returns on the market. As the market goes up or down, Davis Select is expected to follow.
Auto-correlation | -0.46 |
Modest reverse predictability
Davis Select Equity has modest reverse predictability. Overlapping area represents the amount of predictability between Davis Select 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 Davis Select Equity price movement. The serial correlation of -0.46 indicates that about 46.0% of current Davis Select price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.38 |
Davis Select Equity lagged returns against current returns
Autocorrelation, which is Davis Select 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 Davis Select's etf expected returns. We can calculate the autocorrelation of Davis Select returns to help us make a trade decision. For example, suppose you find that Davis Select 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 |
Davis Select 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 Davis Select etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Davis Select etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Davis Select etf over time.
Current vs Lagged Prices |
| Timeline |
Davis Select Lagged Returns
When evaluating Davis Select's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Davis Select etf have on its future price. Davis Select 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, Davis Select autocorrelation shows the relationship between Davis Select etf current value and its past values and can show if there is a momentum factor associated with investing in Davis Select Equity.
Regressed Prices |
| Timeline |
Pair Trading with Davis Select
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Davis Select position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Davis Select will appreciate offsetting losses from the drop in the long position's value.Moving together with Davis Etf
| 0.98 | VTI | Vanguard Total Stock | PairCorr |
| 0.95 | SPY | SPDR SP 500 | PairCorr |
| 0.98 | IVV | iShares Core SP | PairCorr |
| 0.92 | VIG | Vanguard Dividend | PairCorr |
| 0.95 | VV | Vanguard Large Cap | PairCorr |
The ability to find closely correlated positions to Davis Select could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Davis Select when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Davis Select - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Davis Select Equity to buy it.
The correlation of Davis Select is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Davis Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Davis Select Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Davis Select can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Davis Select Correlation, Davis Select Volatility and Davis Select Alpha and Beta module to complement your research on Davis Select. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Davis Select 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.