PowerShares EURO (France) Market Value
| EUHD Etf | EUR 25.59 0.16 0.63% |
| Symbol | PowerShares |
PowerShares EURO '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 PowerShares EURO'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 PowerShares EURO.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in PowerShares EURO on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding PowerShares EURO STOXX or generate 0.0% return on investment in PowerShares EURO over 30 days. PowerShares EURO is related to or competes with Amundi Index, Multi Units, Amundi Index, and WisdomTree Wheat. The investment objective of the Fund is to generate income, together with capital growth which, before expenses, would c... More
PowerShares EURO 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 PowerShares EURO'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 PowerShares EURO STOXX upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7129 | |||
| Information Ratio | 0.0098 | |||
| Maximum Drawdown | 2.59 | |||
| Value At Risk | (1.11) | |||
| Potential Upside | 0.8887 |
PowerShares EURO Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PowerShares EURO's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PowerShares EURO's standard deviation. In reality, there are many statistical measures that can use PowerShares EURO historical prices to predict the future PowerShares EURO's volatility.| Risk Adjusted Performance | 0.0946 | |||
| Jensen Alpha | 0.0725 | |||
| Total Risk Alpha | 0.0054 | |||
| Sortino Ratio | 0.0085 | |||
| Treynor Ratio | 0.5287 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of PowerShares EURO'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.
PowerShares EURO STOXX Backtested Returns
We consider PowerShares EURO very steady. PowerShares EURO STOXX maintains Sharpe Ratio (i.e., Efficiency) of 0.21, which implies the entity had a 0.21% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for PowerShares EURO STOXX, which you can use to evaluate the volatility of the etf. Please check PowerShares EURO's Coefficient Of Variation of 651.13, semi deviation of 0.6084, and Risk Adjusted Performance of 0.0946 to confirm if the risk estimate we provide is consistent with the expected return of 0.12%. The etf holds a Beta of 0.16, which implies not very significant fluctuations relative to the market. As returns on the market increase, PowerShares EURO's returns are expected to increase less than the market. However, during the bear market, the loss of holding PowerShares EURO is expected to be smaller as well.
Auto-correlation | -0.27 |
Weak reverse predictability
PowerShares EURO STOXX has weak reverse predictability. Overlapping area represents the amount of predictability between PowerShares EURO time series from 25th of March 2024 to 9th of April 2024 and 9th of April 2024 to 24th 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 PowerShares EURO STOXX price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current PowerShares EURO price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.27 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
PowerShares EURO STOXX lagged returns against current returns
Autocorrelation, which is PowerShares EURO 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 PowerShares EURO's etf expected returns. We can calculate the autocorrelation of PowerShares EURO returns to help us make a trade decision. For example, suppose you find that PowerShares EURO 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 |
PowerShares EURO 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 PowerShares EURO etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PowerShares EURO etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PowerShares EURO etf over time.
Current vs Lagged Prices |
| Timeline |
PowerShares EURO Lagged Returns
When evaluating PowerShares EURO's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PowerShares EURO etf have on its future price. PowerShares EURO 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, PowerShares EURO autocorrelation shows the relationship between PowerShares EURO etf current value and its past values and can show if there is a momentum factor associated with investing in PowerShares EURO STOXX.
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 PowerShares EURO 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, PowerShares EURO's short interest history, or implied volatility extrapolated from PowerShares EURO options trading.
Pair Trading with PowerShares EURO
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 PowerShares EURO 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 PowerShares EURO will appreciate offsetting losses from the drop in the long position's value.Moving together with PowerShares Etf
| 0.74 | JPNH | Lyxor UCITS Japan | PairCorr |
| 0.66 | JPN | Lyxor UCITS Japan | PairCorr |
| 0.76 | MSE | Lyxor UCITS Stoxx | PairCorr |
| 0.72 | CAC | Lyxor UCITS CAC | PairCorr |
Moving against PowerShares Etf
| 0.76 | STS | SSgA SPDR ETFs | PairCorr |
| 0.68 | FOO | Lyxor Index Fund | PairCorr |
The ability to find closely correlated positions to PowerShares EURO could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PowerShares EURO 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 PowerShares EURO - 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 PowerShares EURO STOXX to buy it.
The correlation of PowerShares EURO 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 PowerShares EURO moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PowerShares EURO STOXX 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 PowerShares EURO 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 PowerShares EURO Correlation, PowerShares EURO Volatility and PowerShares EURO Alpha and Beta module to complement your research on PowerShares EURO. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
PowerShares EURO 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.