Vaneck High Yield Etf Market Value
| HYD Etf | USD 51.48 0.25 0.49% |
| Symbol | VanEck |
The market value of VanEck High Yield 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 High's value that differs from its market value or its book value, called intrinsic value, which is VanEck High'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 High's market value can be influenced by many factors that don't directly affect VanEck High'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 High's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck High is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck High'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 High '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 High'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 High.
| 02/18/2024 |
| 04/18/2024 |
If you would invest 0.00 in VanEck High on February 18, 2024 and sell it all today you would earn a total of 0.00 from holding VanEck High Yield or generate 0.0% return on investment in VanEck High over 60 days. VanEck High is related to or competes with SPDR Nuveen, IShares National, Invesco National, VanEck Intermediate, and VanEck Long. The fund normally invests at least 80 percent of its total assets in securities that comprise the benchmark index More
VanEck High 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 High'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 High Yield upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4249 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 1.83 | |||
| Value At Risk | (0.55) | |||
| Potential Upside | 0.488 |
VanEck High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck High's standard deviation. In reality, there are many statistical measures that can use VanEck High historical prices to predict the future VanEck High's volatility.| Risk Adjusted Performance | 0.0601 | |||
| Jensen Alpha | 0.0286 | |||
| Total Risk Alpha | 0.0026 | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (1.47) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck High'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 High Yield Backtested Returns
We consider VanEck High very steady. VanEck High Yield owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.11, which indicates the etf had a 0.11% return per unit of risk over the last 3 months. We have found thirty technical indicators for VanEck High Yield, which you can use to evaluate the volatility of the etf. Please validate VanEck High's Risk Adjusted Performance of 0.0601, coefficient of variation of 924.46, and Semi Deviation of 0.3104 to confirm if the risk estimate we provide is consistent with the expected return of 0.0377%. The entity has a beta of -0.0189, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning VanEck High are expected to decrease at a much lower rate. During the bear market, VanEck High is likely to outperform the market.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
VanEck High Yield has almost perfect reverse predictability. Overlapping area represents the amount of predictability between VanEck High time series from 18th of February 2024 to 19th of March 2024 and 19th of March 2024 to 18th 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 High Yield price movement. The serial correlation of -0.72 indicates that around 72.0% of current VanEck High price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
VanEck High Yield lagged returns against current returns
Autocorrelation, which is VanEck High 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 High's etf expected returns. We can calculate the autocorrelation of VanEck High returns to help us make a trade decision. For example, suppose you find that VanEck High 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 High 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 High etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck High etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck High etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck High Lagged Returns
When evaluating VanEck High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck High etf have on its future price. VanEck High 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 High autocorrelation shows the relationship between VanEck High etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck High Yield.
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 VanEck High 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, VanEck High's short interest history, or implied volatility extrapolated from VanEck High options trading.
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VanEck High 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.