Spdr Sp Metals Etf Market Value
| XME Etf | USD 59.50 0.85 1.41% |
| Symbol | SPDR |
The market value of SPDR SP Metals is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR SP's value that differs from its market value or its book value, called intrinsic value, which is SPDR SP'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 SPDR SP's market value can be influenced by many factors that don't directly affect SPDR SP'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 SPDR SP's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR SP is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR SP'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.
SPDR SP '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 SPDR SP'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 SPDR SP.
| 08/27/2023 |
| 04/23/2024 |
If you would invest 0.00 in SPDR SP on August 27, 2023 and sell it all today you would earn a total of 0.00 from holding SPDR SP Metals or generate 0.0% return on investment in SPDR SP over 240 days. SPDR SP is related to or competes with SPDR SP, SPDR SP, and SPDR SP. In seeking to track the performance of the SP Metals Mining Select Industry Index , the fund employs a sampling strategy More
SPDR SP 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 SPDR SP'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 SPDR SP Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.52 | |||
| Information Ratio | 0.0221 | |||
| Maximum Drawdown | 5.21 | |||
| Value At Risk | (2.02) | |||
| Potential Upside | 2.41 |
SPDR SP Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR SP's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR SP's standard deviation. In reality, there are many statistical measures that can use SPDR SP historical prices to predict the future SPDR SP's volatility.| Risk Adjusted Performance | 0.0596 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0198 | |||
| Treynor Ratio | 0.0735 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR SP'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.
SPDR SP Metals Backtested Returns
We consider SPDR SP very steady. SPDR SP Metals owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0549, which indicates the etf had a 0.0549% return per unit of volatility over the last 3 months. We have found twenty-eight technical indicators for SPDR SP Metals, which you can use to evaluate the volatility of the etf. Please validate SPDR SP's coefficient of variation of 1136.25, and Risk Adjusted Performance of 0.0596 to confirm if the risk estimate we provide is consistent with the expected return of 0.0763%. The entity has a beta of 1.49, which indicates 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, SPDR SP will likely underperform.
Auto-correlation | 0.66 |
Good predictability
SPDR SP Metals has good predictability. Overlapping area represents the amount of predictability between SPDR SP time series from 27th of August 2023 to 25th of December 2023 and 25th of December 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 SPDR SP Metals price movement. The serial correlation of 0.66 indicates that around 66.0% of current SPDR SP price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 4.52 |
SPDR SP Metals lagged returns against current returns
Autocorrelation, which is SPDR SP 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 SPDR SP's etf expected returns. We can calculate the autocorrelation of SPDR SP returns to help us make a trade decision. For example, suppose you find that SPDR SP 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 |
SPDR SP 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 SPDR SP etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR SP etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR SP etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR SP Lagged Returns
When evaluating SPDR SP's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR SP etf have on its future price. SPDR SP 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, SPDR SP autocorrelation shows the relationship between SPDR SP etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR SP Metals.
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 SPDR SP 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, SPDR SP's short interest history, or implied volatility extrapolated from SPDR SP 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 SPDR SP Metals is a strong investment it is important to analyze SPDR SP's 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 SPDR SP's future performance. For an informed investment choice regarding SPDR Etf, refer to the following important reports:Check out SPDR SP Correlation, SPDR SP Volatility and SPDR SP Alpha and Beta module to complement your research on SPDR SP. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
SPDR SP 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.