Ishares Iboxx High Etf Market Value
| HYG Etf | USD 76.37 0.04 0.05% |
| Symbol | IShares |
The market value of iShares iBoxx High is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares IBoxx's value that differs from its market value or its book value, called intrinsic value, which is IShares IBoxx'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 IShares IBoxx's market value can be influenced by many factors that don't directly affect IShares IBoxx'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 IShares IBoxx's value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares IBoxx is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares IBoxx'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.
IShares IBoxx '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 IShares IBoxx'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 IShares IBoxx.
| 02/16/2024 |
| 04/16/2024 |
If you would invest 0.00 in IShares IBoxx on February 16, 2024 and sell it all today you would earn a total of 0.00 from holding iShares iBoxx High or generate 0.0% return on investment in IShares IBoxx over 60 days. IShares IBoxx is related to or competes with Fidelity Corporate, Fidelity Total, Fidelity Dividend, Fidelity Limited, and Fidelity Quality. The underlying index is a rules-based index consisting of U.S More
IShares IBoxx 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 IShares IBoxx'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 iShares iBoxx High upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3246 | |||
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 1.65 | |||
| Value At Risk | (0.48) | |||
| Potential Upside | 0.4862 |
IShares IBoxx Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares IBoxx's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares IBoxx's standard deviation. In reality, there are many statistical measures that can use IShares IBoxx historical prices to predict the future IShares IBoxx's volatility.| Risk Adjusted Performance | 0.0048 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.17) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of IShares IBoxx'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.
iShares iBoxx High Backtested Returns
We consider IShares IBoxx very steady. iShares iBoxx High holds Efficiency (Sharpe) Ratio of 0.0499, which attests that the entity had a 0.0499% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for iShares iBoxx High, which you can use to evaluate the volatility of the entity. Please check out IShares IBoxx's Risk Adjusted Performance of 0.0048, downside deviation of 0.3246, and Market Risk Adjusted Performance of (0.03) to validate if the risk estimate we provide is consistent with the expected return of 0.0151%. The etf retains a Market Volatility (i.e., Beta) of 0.0682, which attests to not very significant fluctuations relative to the market. As returns on the market increase, IShares IBoxx's returns are expected to increase less than the market. However, during the bear market, the loss of holding IShares IBoxx is expected to be smaller as well.
Auto-correlation | -0.55 |
Good reverse predictability
iShares iBoxx High has good reverse predictability. Overlapping area represents the amount of predictability between IShares IBoxx time series from 16th of February 2024 to 17th of March 2024 and 17th of March 2024 to 16th 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 iShares iBoxx High price movement. The serial correlation of -0.55 indicates that about 55.0% of current IShares IBoxx price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
iShares iBoxx High lagged returns against current returns
Autocorrelation, which is IShares IBoxx 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 IShares IBoxx's etf expected returns. We can calculate the autocorrelation of IShares IBoxx returns to help us make a trade decision. For example, suppose you find that IShares IBoxx 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 |
IShares IBoxx 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 IShares IBoxx etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares IBoxx etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares IBoxx etf over time.
Current vs Lagged Prices |
| Timeline |
IShares IBoxx Lagged Returns
When evaluating IShares IBoxx's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares IBoxx etf have on its future price. IShares IBoxx 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, IShares IBoxx autocorrelation shows the relationship between IShares IBoxx etf current value and its past values and can show if there is a momentum factor associated with investing in iShares iBoxx High.
Regressed Prices |
| Timeline |
IShares IBoxx Implied Volatility | 34.39 |
IShares IBoxx's implied volatility exposes the market's sentiment of iShares iBoxx High stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if IShares IBoxx's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that IShares IBoxx stock will not fluctuate a lot when IShares IBoxx's options are near their expiration.
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 IShares IBoxx 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, IShares IBoxx's short interest history, or implied volatility extrapolated from IShares IBoxx options trading.
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IShares IBoxx 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.