Roundhill Cannabis Etf Market Value
| WEED Etf | USD 36.97 1.64 4.25% |
| Symbol | Roundhill |
The market value of Roundhill Cannabis ETF is measured differently than its book value, which is the value of Roundhill that is recorded on the company's balance sheet. Investors also form their own opinion of Roundhill Cannabis' value that differs from its market value or its book value, called intrinsic value, which is Roundhill Cannabis' 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 Roundhill Cannabis' market value can be influenced by many factors that don't directly affect Roundhill Cannabis' 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 Roundhill Cannabis' value and its price as these two are different measures arrived at by different means. Investors typically determine if Roundhill Cannabis is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Roundhill Cannabis' 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.
Roundhill Cannabis '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 Roundhill Cannabis' 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 Roundhill Cannabis.
| 06/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in Roundhill Cannabis on June 28, 2023 and sell it all today you would earn a total of 0.00 from holding Roundhill Cannabis ETF or generate 0.0% return on investment in Roundhill Cannabis over 300 days. Roundhill Cannabis is related to or competes with Invesco WilderHill, and Global X. The fund is an actively managed ETF that seeks to achieve its investment objective by investing primarily in exchange-li... More
Roundhill Cannabis 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 Roundhill Cannabis' 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 Roundhill Cannabis ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.03 | |||
| Information Ratio | 0.0455 | |||
| Maximum Drawdown | 25.96 | |||
| Value At Risk | (7.34) | |||
| Potential Upside | 7.99 |
Roundhill Cannabis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Roundhill Cannabis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Roundhill Cannabis' standard deviation. In reality, there are many statistical measures that can use Roundhill Cannabis historical prices to predict the future Roundhill Cannabis' volatility.| Risk Adjusted Performance | 0.0477 | |||
| Jensen Alpha | 0.1937 | |||
| Total Risk Alpha | (0.29) | |||
| Sortino Ratio | 0.0528 | |||
| Treynor Ratio | 0.2295 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Roundhill Cannabis' 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.
Roundhill Cannabis ETF Backtested Returns
We consider Roundhill Cannabis not too volatile. Roundhill Cannabis ETF maintains Sharpe Ratio (i.e., Efficiency) of 0.0075, which implies the entity had a 0.0075% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Roundhill Cannabis ETF, which you can use to evaluate the volatility of the etf. Please check Roundhill Cannabis' Semi Deviation of 3.77, risk adjusted performance of 0.0477, and Coefficient Of Variation of 1568.54 to confirm if the risk estimate we provide is consistent with the expected return of 0.0351%. The etf holds a Beta of 1.26, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Roundhill Cannabis will likely underperform.
Auto-correlation | 0.34 |
Below average predictability
Roundhill Cannabis ETF has below average predictability. Overlapping area represents the amount of predictability between Roundhill Cannabis time series from 28th of June 2023 to 25th of November 2023 and 25th of November 2023 to 23rd 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 Roundhill Cannabis ETF price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current Roundhill Cannabis price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 28.6 |
Roundhill Cannabis ETF lagged returns against current returns
Autocorrelation, which is Roundhill Cannabis 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 Roundhill Cannabis' etf expected returns. We can calculate the autocorrelation of Roundhill Cannabis returns to help us make a trade decision. For example, suppose you find that Roundhill Cannabis 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 |
Roundhill Cannabis 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 Roundhill Cannabis etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Roundhill Cannabis etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Roundhill Cannabis etf over time.
Current vs Lagged Prices |
| Timeline |
Roundhill Cannabis Lagged Returns
When evaluating Roundhill Cannabis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Roundhill Cannabis etf have on its future price. Roundhill Cannabis 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, Roundhill Cannabis autocorrelation shows the relationship between Roundhill Cannabis etf current value and its past values and can show if there is a momentum factor associated with investing in Roundhill Cannabis 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 Roundhill Cannabis 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, Roundhill Cannabis' short interest history, or implied volatility extrapolated from Roundhill Cannabis options trading.
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Roundhill Cannabis ETF is a strong investment it is important to analyze Roundhill Cannabis' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Roundhill Cannabis' future performance. For an informed investment choice regarding Roundhill Etf, refer to the following important reports:Check out Roundhill Cannabis Correlation, Roundhill Cannabis Volatility and Roundhill Cannabis Alpha and Beta module to complement your research on Roundhill Cannabis. Note that the Roundhill Cannabis ETF information on this page should be used as a complementary analysis to other Roundhill Cannabis' 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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Roundhill Cannabis 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.