Utilities Select Sector Etf Market Value
| XLU Etf | USD 68.41 0.54 0.80% |
| Symbol | Utilities |
The market value of Utilities Select Sector is measured differently than its book value, which is the value of Utilities that is recorded on the company's balance sheet. Investors also form their own opinion of Utilities Select's value that differs from its market value or its book value, called intrinsic value, which is Utilities Select'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 Utilities Select's market value can be influenced by many factors that don't directly affect Utilities Select'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 Utilities Select's value and its price as these two are different measures arrived at by different means. Investors typically determine if Utilities Select is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Utilities Select'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.
Utilities Select '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 Utilities Select'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 Utilities Select.
| 04/06/2024 |
| 05/06/2024 |
If you would invest 0.00 in Utilities Select on April 6, 2024 and sell it all today you would earn a total of 0.00 from holding Utilities Select Sector or generate 0.0% return on investment in Utilities Select over 30 days. Utilities Select is related to or competes with Change Finance, Etho Climate, and IShares MSCI. In seeking to track the performance of the index, the fund employs a replication strategy More
Utilities Select 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 Utilities Select'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 Utilities Select Sector upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.08 | |||
| Information Ratio | 0.0992 | |||
| Maximum Drawdown | 4.5 | |||
| Value At Risk | (1.71) | |||
| Potential Upside | 1.89 |
Utilities Select Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Utilities Select's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Utilities Select's standard deviation. In reality, there are many statistical measures that can use Utilities Select historical prices to predict the future Utilities Select's volatility.| Risk Adjusted Performance | 0.1158 | |||
| Jensen Alpha | 0.1104 | |||
| Total Risk Alpha | 0.0585 | |||
| Sortino Ratio | 0.0932 | |||
| Treynor Ratio | 0.1978 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Utilities Select'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.
Utilities Select Sector Backtested Returns
Utilities Select appears to be very steady, given 3 months investment horizon. Utilities Select Sector owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.23, which indicates the etf had a 0.23% return per unit of risk over the last 3 months. We have found thirty technical indicators for Utilities Select Sector, which you can use to evaluate the volatility of the etf. Please review Utilities Select's Risk Adjusted Performance of 0.1158, semi deviation of 0.8436, and Coefficient Of Variation of 563.43 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 0.86, which indicates possible diversification benefits within a given portfolio. Utilities Select returns are very sensitive to returns on the market. As the market goes up or down, Utilities Select is expected to follow.
Auto-correlation | 0.17 |
Very weak predictability
Utilities Select Sector has very weak predictability. Overlapping area represents the amount of predictability between Utilities Select time series from 6th of April 2024 to 21st of April 2024 and 21st of April 2024 to 6th of May 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 Utilities Select Sector price movement. The serial correlation of 0.17 indicates that over 17.0% of current Utilities Select price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.17 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.64 |
Utilities Select Sector lagged returns against current returns
Autocorrelation, which is Utilities Select 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 Utilities Select's etf expected returns. We can calculate the autocorrelation of Utilities Select returns to help us make a trade decision. For example, suppose you find that Utilities Select 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 |
Utilities Select 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 Utilities Select etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Utilities Select etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Utilities Select etf over time.
Current vs Lagged Prices |
| Timeline |
Utilities Select Lagged Returns
When evaluating Utilities Select's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Utilities Select etf have on its future price. Utilities Select 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, Utilities Select autocorrelation shows the relationship between Utilities Select etf current value and its past values and can show if there is a momentum factor associated with investing in Utilities Select Sector.
Regressed Prices |
| Timeline |
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 Utilities Select Sector is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Utilities Etf is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Utilities Select Sector Etf. Highlighted below are key reports to facilitate an investment decision about Utilities Select Sector Etf:Check out Utilities Select Correlation, Utilities Select Volatility and Utilities Select Alpha and Beta module to complement your research on Utilities Select. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
Utilities Select 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.