Etfmg Prime Mobile Etf Market Value
| IPAY Etf | USD 49.63 0.27 0.54% |
| Symbol | ETFMG |
The market value of ETFMG Prime Mobile is measured differently than its book value, which is the value of ETFMG that is recorded on the company's balance sheet. Investors also form their own opinion of ETFMG Prime's value that differs from its market value or its book value, called intrinsic value, which is ETFMG Prime'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 ETFMG Prime's market value can be influenced by many factors that don't directly affect ETFMG Prime'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 ETFMG Prime's value and its price as these two are different measures arrived at by different means. Investors typically determine if ETFMG Prime is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ETFMG Prime'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.
ETFMG Prime '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 ETFMG Prime'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 ETFMG Prime.
| 01/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in ETFMG Prime on January 26, 2024 and sell it all today you would earn a total of 0.00 from holding ETFMG Prime Mobile or generate 0.0% return on investment in ETFMG Prime over 90 days. ETFMG Prime is related to or competes with SPDR Kensho, IShares Robotics, Global X, Invesco SP, and IShares Genomics. The index tracks the performance of the exchange-listed equity securities of companies across the globe that engage in p... More
ETFMG Prime 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 ETFMG Prime'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 ETFMG Prime Mobile upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.35 | |||
| Information Ratio | 0.0411 | |||
| Maximum Drawdown | 4.69 | |||
| Value At Risk | (2.01) | |||
| Potential Upside | 1.56 |
ETFMG Prime Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ETFMG Prime's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ETFMG Prime's standard deviation. In reality, there are many statistical measures that can use ETFMG Prime historical prices to predict the future ETFMG Prime's volatility.| Risk Adjusted Performance | 0.0761 | |||
| Jensen Alpha | 0.0079 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0365 | |||
| Treynor Ratio | 0.083 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ETFMG Prime'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.
ETFMG Prime Mobile Backtested Returns
We consider ETFMG Prime very steady. ETFMG Prime Mobile secures Sharpe Ratio (or Efficiency) of 0.1, which denotes the etf had a 0.1% return per unit of return volatility over the last 3 months. We have found twenty-nine technical indicators for ETFMG Prime Mobile, which you can use to evaluate the volatility of the entity. Please confirm ETFMG Prime's mean deviation of 0.9574, and Downside Deviation of 1.35 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 1.53, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, ETFMG Prime will likely underperform.
Auto-correlation | -0.68 |
Very good reverse predictability
ETFMG Prime Mobile has very good reverse predictability. Overlapping area represents the amount of predictability between ETFMG Prime time series from 26th of January 2024 to 11th of March 2024 and 11th of March 2024 to 25th 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 ETFMG Prime Mobile price movement. The serial correlation of -0.68 indicates that around 68.0% of current ETFMG Prime price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 1.76 |
ETFMG Prime Mobile lagged returns against current returns
Autocorrelation, which is ETFMG Prime 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 ETFMG Prime's etf expected returns. We can calculate the autocorrelation of ETFMG Prime returns to help us make a trade decision. For example, suppose you find that ETFMG Prime 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 |
ETFMG Prime 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 ETFMG Prime etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ETFMG Prime etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ETFMG Prime etf over time.
Current vs Lagged Prices |
| Timeline |
ETFMG Prime Lagged Returns
When evaluating ETFMG Prime's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ETFMG Prime etf have on its future price. ETFMG Prime 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, ETFMG Prime autocorrelation shows the relationship between ETFMG Prime etf current value and its past values and can show if there is a momentum factor associated with investing in ETFMG Prime Mobile.
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 ETFMG Prime 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, ETFMG Prime's short interest history, or implied volatility extrapolated from ETFMG Prime options trading.
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Try AI Portfolio ArchitectCheck out ETFMG Prime Correlation, ETFMG Prime Volatility and ETFMG Prime Alpha and Beta module to complement your research on ETFMG Prime. Note that the ETFMG Prime Mobile information on this page should be used as a complementary analysis to other ETFMG Prime's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
ETFMG Prime 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.