Vaneck Biotech Etf Market Value
| BBH Etf | USD 152.36 0.37 0.24% |
| Symbol | VanEck |
The market value of VanEck Biotech ETF 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 Biotech's value that differs from its market value or its book value, called intrinsic value, which is VanEck Biotech'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 Biotech's market value can be influenced by many factors that don't directly affect VanEck Biotech'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 Biotech's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Biotech is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Biotech'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 Biotech '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 Biotech'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 Biotech.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in VanEck Biotech on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding VanEck Biotech ETF or generate 0.0% return on investment in VanEck Biotech over 30 days. VanEck Biotech is related to or competes with VanEck Pharmaceutical, VanEck Retail, First Trust, Invesco Dynamic, and IShares Biotechnology. The fund normally invests at least 80 percent of its total assets in securities that comprise the funds benchmark index More
VanEck Biotech 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 Biotech'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 Biotech ETF upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 4.04 | |||
| Value At Risk | (1.84) | |||
| Potential Upside | 1.24 |
VanEck Biotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck Biotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck Biotech's standard deviation. In reality, there are many statistical measures that can use VanEck Biotech historical prices to predict the future VanEck Biotech's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | (0.13) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck Biotech'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 Biotech ETF Backtested Returns
VanEck Biotech ETF owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.14, which indicates the etf had a -0.14% return per unit of risk over the last 3 months. VanEck Biotech ETF exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate VanEck Biotech's Coefficient Of Variation of (688.15), variance of 0.9248, and Risk Adjusted Performance of (0.09) to confirm the risk estimate we provide. The entity has a beta of 1.11, which indicates a somewhat significant risk relative to the market. VanEck Biotech returns are very sensitive to returns on the market. As the market goes up or down, VanEck Biotech is expected to follow.
Auto-correlation | 0.72 |
Good predictability
VanEck Biotech ETF has good predictability. Overlapping area represents the amount of predictability between VanEck Biotech 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 VanEck Biotech ETF price movement. The serial correlation of 0.72 indicates that around 72.0% of current VanEck Biotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 12.24 |
VanEck Biotech ETF lagged returns against current returns
Autocorrelation, which is VanEck Biotech 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 Biotech's etf expected returns. We can calculate the autocorrelation of VanEck Biotech returns to help us make a trade decision. For example, suppose you find that VanEck Biotech 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 Biotech 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 Biotech etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck Biotech etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck Biotech etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck Biotech Lagged Returns
When evaluating VanEck Biotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck Biotech etf have on its future price. VanEck Biotech 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 Biotech autocorrelation shows the relationship between VanEck Biotech etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck Biotech ETF.
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 Biotech 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 Biotech's short interest history, or implied volatility extrapolated from VanEck Biotech options trading.
Pair Trading with VanEck Biotech
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 VanEck Biotech 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 VanEck Biotech will appreciate offsetting losses from the drop in the long position's value.Moving together with VanEck Etf
| 0.87 | IBB | iShares Biotechnology ETF | PairCorr |
Moving against VanEck Etf
| 0.55 | RSPY | Tuttle Capital Management | PairCorr |
| 0.43 | DSJA | DSJA | PairCorr |
The ability to find closely correlated positions to VanEck Biotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VanEck Biotech 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 VanEck Biotech - 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 VanEck Biotech ETF to buy it.
The correlation of VanEck Biotech 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 VanEck Biotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Biotech ETF 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 VanEck Biotech 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 VanEck Biotech Correlation, VanEck Biotech Volatility and VanEck Biotech Alpha and Beta module to complement your research on VanEck Biotech. Note that the VanEck Biotech ETF information on this page should be used as a complementary analysis to other VanEck Biotech'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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
VanEck Biotech 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.