# SPASX 300 (Australia) Market Value

AXMEKD Index | 1,864 7.64 0.41% |

Symbol | SPASX |

## SPASX 300 '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 SPASX 300's index 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 SPASX 300.

05/09/2023 |
| 06/08/2023 |

If you would invest

**0.00**in SPASX 300 on**May 9, 2023**and sell it all today you would**earn a total of 0.00**from holding SPASX 300 Media or generate**0.0%**return on investment in SPASX 300 over**30**days.## SPASX 300 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 SPASX 300's index 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 SPASX 300 Media upside and downside potential and time the market with a certain degree of confidence.

Downside Deviation | 0.8261 | |||

Information Ratio | 0.1073 | |||

Maximum Drawdown | 3.18 | |||

Value At Risk | (1.31) | |||

Potential Upside | 1.48 |

## SPASX 300 Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for SPASX 300's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPASX 300's standard deviation. In reality, there are many statistical measures that can use SPASX 300 historical prices to predict the future SPASX 300's volatility.Risk Adjusted Performance | 0.0777 | |||

Total Risk Alpha | 0.0807 | |||

Sortino Ratio | 0.1028 |

Sophisticated investors, who have witnessed many market ups and downs, frequently view the market will even out over time. This tendency of SPASX 300'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. Please use the tools below to analyze the current value of SPASX 300 in the context of predictive analytics.

Please note, it is not enough to conduct a financial or market analysis of a single entity such as SPASX 300. Your research has to be compared to or analyzed against SPASX 300's peers to derive any actionable benefits. When done correctly, SPASX 300's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in SPASX 300 Media.

## SPASX 300 Media Backtested Returns

SPASX 300 Media retains Efficiency (Sharpe Ratio) of 0.0475, which indicates the index had 0.0475% of return per unit of risk over the last 3 months. Our philosophy in measuring the volatility of an index is to use all available market data together with index-specific technical indicators that cannot be diversified away. We have found twenty-six technical indicators for SPASX 300, which you can use to evaluate the future volatility of the index.

The entity owns a Beta (Systematic Risk) of 0.0, which indicates not very significant fluctuations relative to the market. Let's try to break down what SPASX's beta means in this case. the returns on MARKET and SPASX 300 are completely uncorrelated. Although it is important to respect SPASX 300 Media existing price patterns, it is better to be realistic regarding the information on the equity's price patterns. The philosophy in measuring future performance of any index is to evaluate the business as a whole together with its past performance, including all available fundamental and technical indicators. By inspecting SPASX 300 Media technical indicators, you can now evaluate if the expected return of 0.0363% will be sustainable into the future.

## Auto-correlation | -0.08 |

### Very weak reverse predictability

SPASX 300 Media has very weak reverse predictability. Overlapping area represents the amount of predictability between SPASX 300 time series from 9th of May 2023 to 24th of May 2023 and 24th of May 2023 to 8th of June 2023. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of SPASX 300 Media price movement. The serial correlation of

**-0.08**indicates that barely 8.0% of current SPASX 300 price fluctuation can be explain by its past prices.Correlation Coefficient | -0.08 | |

Spearman Rank Test | -0.46 | |

Residual Average | 0.0 | |

Price Variance | 124.15 |

## SPASX 300 Media lagged returns against current returns

Autocorrelation, which is SPASX 300 index'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 SPASX 300's index expected returns. We can calculate the autocorrelation of SPASX 300 returns to help us make a trade decision. For example, suppose you find that SPASX 300 index has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the stock movement to match the lagging time series.

Current and Lagged Values |

Timeline |

## SPASX 300 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 SPASX 300 index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPASX 300 index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPASX 300 index over time.

Current vs Lagged Prices |

Timeline |

## SPASX 300 Lagged Returns

When evaluating SPASX 300's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPASX 300 index have on its future price. SPASX 300 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, SPASX 300 autocorrelation shows the relationship between SPASX 300 index current value and its past values and can show if there is a momentum factor associated with investing in SPASX 300 Media.

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 SPASX 300 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, SPASX 300's short interest history, or implied volatility extrapolated from SPASX 300 options trading.

## Pair Trading with SPASX 300

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 SPASX 300 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 SPASX 300 will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to SPASX 300 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPASX 300 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 SPASX 300 - 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 SPASX 300 Media to buy it.

The correlation of SPASX 300 is a statistical measure of how it moves in relation to other equities. 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 SPASX 300 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPASX 300 Media 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 SPASX 300 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 Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any index could be tightly coupled with the direction of predictive economic indicators such as various price indices. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.

## Complementary Tools for SPASX Index analysis

When running SPASX 300's price analysis, check to measure SPASX 300's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy SPASX 300 is operating at the current time. Most of SPASX 300's value examination focuses on studying past and present price action to predict the probability of SPASX 300's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move SPASX 300's price. Additionally, you may evaluate how the addition of SPASX 300 to your portfolios can decrease your overall portfolio volatility.

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SPASX 300 technical index 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, index market cycles, or different charting patterns.