Global X Nasdaq Etf Market Value
| QYLD Etf | USD 17.39 0.02 0.12% |
| Symbol | Global |
The market value of Global X NASDAQ is measured differently than its book value, which is the value of Global that is recorded on the company's balance sheet. Investors also form their own opinion of Global X's value that differs from its market value or its book value, called intrinsic value, which is Global X'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 Global X's market value can be influenced by many factors that don't directly affect Global X'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 Global X's value and its price as these two are different measures arrived at by different means. Investors typically determine if Global X is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Global X'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.
Global X '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 Global X'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 Global X.
| 10/27/2023 |
| 04/24/2024 |
If you would invest 0.00 in Global X on October 27, 2023 and sell it all today you would earn a total of 0.00 from holding Global X NASDAQ or generate 0.0% return on investment in Global X over 180 days. Global X is related to or competes with Global X, HUMANA, Morningstar Unconstrained, High Yield, Thrivent High, Via Renewables, and Bondbloxx ETF. The fund will invest at least 80 percent of its total assets in the securities of the underlying index More
Global X 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 Global X'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 Global X NASDAQ upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5816 | |||
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 3.3 | |||
| Value At Risk | (0.73) | |||
| Potential Upside | 0.6429 |
Global X Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Global X's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Global X's standard deviation. In reality, there are many statistical measures that can use Global X historical prices to predict the future Global X's volatility.| Risk Adjusted Performance | 0.0302 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.12) | |||
| Treynor Ratio | 0.0419 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Global X'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.
Global X NASDAQ Backtested Returns
We consider Global X very steady. Global X NASDAQ holds Efficiency (Sharpe) Ratio of 0.0438, which attests that the entity had a 0.0438% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Global X NASDAQ, which you can use to evaluate the volatility of the entity. Please check out Global X's Risk Adjusted Performance of 0.0302, downside deviation of 0.5816, and Market Risk Adjusted Performance of 0.0519 to validate if the risk estimate we provide is consistent with the expected return of 0.0204%. The etf retains a Market Volatility (i.e., Beta) of 0.35, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Global X's returns are expected to increase less than the market. However, during the bear market, the loss of holding Global X is expected to be smaller as well.
Auto-correlation | 0.58 |
Modest predictability
Global X NASDAQ has modest predictability. Overlapping area represents the amount of predictability between Global X time series from 27th of October 2023 to 25th of January 2024 and 25th of January 2024 to 24th 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 Global X NASDAQ price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Global X price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Global X NASDAQ lagged returns against current returns
Autocorrelation, which is Global X 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 Global X's etf expected returns. We can calculate the autocorrelation of Global X returns to help us make a trade decision. For example, suppose you find that Global X 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 |
Global X 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 Global X etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Global X etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Global X etf over time.
Current vs Lagged Prices |
| Timeline |
Global X Lagged Returns
When evaluating Global X's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Global X etf have on its future price. Global X 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, Global X autocorrelation shows the relationship between Global X etf current value and its past values and can show if there is a momentum factor associated with investing in Global X NASDAQ.
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 Global X 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, Global X's short interest history, or implied volatility extrapolated from Global X options trading.
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Check out Global X Correlation, Global X Volatility and Global X Alpha and Beta module to complement your research on Global X. You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Global X 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.