Saba Closed End Funds Etf Market Value
CEFS Etf | USD 19.54 0.14 0.71% |
Symbol | Saba |
The market value of Saba Closed End is measured differently than its book value, which is the value of Saba that is recorded on the company's balance sheet. Investors also form their own opinion of Saba Closed's value that differs from its market value or its book value, called intrinsic value, which is Saba Closed'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 Saba Closed's market value can be influenced by many factors that don't directly affect Saba Closed'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 Saba Closed's value and its price as these two are different measures arrived at by different means. Investors typically determine if Saba Closed is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Saba Closed'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.
Saba Closed '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 Saba Closed'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 Saba Closed.
03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Saba Closed on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Saba Closed End Funds or generate 0.0% return on investment in Saba Closed over 30 days. Saba Closed is related to or competes with Arrow DWA, AlphaMark Actively, FlexShares Real, First Trust, and VictoryShares Discovery. The fund is an actively managed exchange-traded fund that seeks to achieve its investment objective by normally investin... More
Saba Closed 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 Saba Closed'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 Saba Closed End Funds upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 0.7402 | |||
Information Ratio | 0.0359 | |||
Maximum Drawdown | 2.86 | |||
Value At Risk | (1.10) | |||
Potential Upside | 1.03 |
Saba Closed Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Saba Closed's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Saba Closed's standard deviation. In reality, there are many statistical measures that can use Saba Closed historical prices to predict the future Saba Closed's volatility.Risk Adjusted Performance | 0.0786 | |||
Jensen Alpha | 0.034 | |||
Total Risk Alpha | 0.0215 | |||
Sortino Ratio | 0.032 | |||
Treynor Ratio | 0.0912 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Saba Closed'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.
Saba Closed End Backtested Returns
We consider Saba Closed very steady. Saba Closed End owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.15, which indicates the etf had a 0.15% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Saba Closed End Funds, which you can use to evaluate the volatility of the etf. Please validate Saba Closed's Coefficient Of Variation of 806.46, semi deviation of 0.5949, and Risk Adjusted Performance of 0.0786 to confirm if the risk estimate we provide is consistent with the expected return of 0.0975%. The entity has a beta of 0.79, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Saba Closed's returns are expected to increase less than the market. However, during the bear market, the loss of holding Saba Closed is expected to be smaller as well.
Auto-correlation | -0.46 |
Modest reverse predictability
Saba Closed End Funds has modest reverse predictability. Overlapping area represents the amount of predictability between Saba Closed time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th 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 Saba Closed End price movement. The serial correlation of -0.46 indicates that about 46.0% of current Saba Closed price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.46 | |
Spearman Rank Test | -0.7 | |
Residual Average | 0.0 | |
Price Variance | 0.09 |
Saba Closed End lagged returns against current returns
Autocorrelation, which is Saba Closed 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 Saba Closed's etf expected returns. We can calculate the autocorrelation of Saba Closed returns to help us make a trade decision. For example, suppose you find that Saba Closed 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 |
Saba Closed 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 Saba Closed etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Saba Closed etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Saba Closed etf over time.
Current vs Lagged Prices |
Timeline |
Saba Closed Lagged Returns
When evaluating Saba Closed's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Saba Closed etf have on its future price. Saba Closed 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, Saba Closed autocorrelation shows the relationship between Saba Closed etf current value and its past values and can show if there is a momentum factor associated with investing in Saba Closed End Funds.
Regressed Prices |
Timeline |
Pair Trading with Saba Closed
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 Saba Closed 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 Saba Closed will appreciate offsetting losses from the drop in the long position's value.Moving together with Saba Etf
0.94 | TDSC | Cabana Target Drawdown | PairCorr |
0.94 | YYY | Amplify High me | PairCorr |
0.88 | TDSD | Exchange Traded Concepts | PairCorr |
0.89 | TDSB | Cabana Target Drawdown | PairCorr |
0.89 | TDSE | Exchange Traded Concepts | PairCorr |
The ability to find closely correlated positions to Saba Closed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Saba Closed 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 Saba Closed - 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 Saba Closed End Funds to buy it.
The correlation of Saba Closed 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 Saba Closed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Saba Closed End 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 Saba Closed 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 Saba Closed Correlation, Saba Closed Volatility and Saba Closed Alpha and Beta module to complement your research on Saba Closed. Note that the Saba Closed End information on this page should be used as a complementary analysis to other Saba Closed'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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Saba Closed 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.