Xtrackers California Municipal Etf Market Value
CA Etf | USD 24.85 0.02 0.08% |
Symbol | Xtrackers |
The market value of Xtrackers California is measured differently than its book value, which is the value of Xtrackers that is recorded on the company's balance sheet. Investors also form their own opinion of Xtrackers California's value that differs from its market value or its book value, called intrinsic value, which is Xtrackers California'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 Xtrackers California's market value can be influenced by many factors that don't directly affect Xtrackers California'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 Xtrackers California's value and its price as these two are different measures arrived at by different means. Investors typically determine if Xtrackers California is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Xtrackers California'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.
Xtrackers California '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 Xtrackers California'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 Xtrackers California.
04/02/2024 |
| 05/02/2024 |
If you would invest 0.00 in Xtrackers California on April 2, 2024 and sell it all today you would earn a total of 0.00 from holding Xtrackers California Municipal or generate 0.0% return on investment in Xtrackers California over 30 days. Xtrackers California is related to or competes with FT Cboe, First Trust, First Trust, FT Cboe, and First Trust. CA, Inc., doing business as CA technologies, develops, markets, delivers, and licenses software products and services in... More
Xtrackers California 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 Xtrackers California'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 Xtrackers California Municipal upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.27) | |||
Maximum Drawdown | 1.35 | |||
Value At Risk | (0.48) | |||
Potential Upside | 0.4024 |
Xtrackers California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Xtrackers California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Xtrackers California's standard deviation. In reality, there are many statistical measures that can use Xtrackers California historical prices to predict the future Xtrackers California's volatility.Risk Adjusted Performance | (0.04) | |||
Jensen Alpha | (0.02) | |||
Total Risk Alpha | (0.04) | |||
Treynor Ratio | (0.24) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Xtrackers California'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.
Xtrackers California Backtested Returns
Xtrackers California shows Sharpe Ratio of -0.1, which attests that the etf had a -0.1% return per unit of risk over the last 3 months. Xtrackers California exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Xtrackers California's Mean Deviation of 0.1786, standard deviation of 0.2521, and Market Risk Adjusted Performance of (0.23) to validate the risk estimate we provide. The entity maintains a market beta of 0.0777, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Xtrackers California's returns are expected to increase less than the market. However, during the bear market, the loss of holding Xtrackers California is expected to be smaller as well.
Auto-correlation | 0.40 |
Average predictability
Xtrackers California Municipal has average predictability. Overlapping area represents the amount of predictability between Xtrackers California time series from 2nd of April 2024 to 17th of April 2024 and 17th of April 2024 to 2nd 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 Xtrackers California price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Xtrackers California price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.4 | |
Spearman Rank Test | 0.15 | |
Residual Average | 0.0 | |
Price Variance | 0.0 |
Xtrackers California lagged returns against current returns
Autocorrelation, which is Xtrackers California 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 Xtrackers California's etf expected returns. We can calculate the autocorrelation of Xtrackers California returns to help us make a trade decision. For example, suppose you find that Xtrackers California 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 |
Xtrackers California 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 Xtrackers California etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Xtrackers California etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Xtrackers California etf over time.
Current vs Lagged Prices |
Timeline |
Xtrackers California Lagged Returns
When evaluating Xtrackers California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Xtrackers California etf have on its future price. Xtrackers California 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, Xtrackers California autocorrelation shows the relationship between Xtrackers California etf current value and its past values and can show if there is a momentum factor associated with investing in Xtrackers California Municipal.
Regressed Prices |
Timeline |
Pair Trading with Xtrackers California
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Xtrackers California position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Xtrackers California will appreciate offsetting losses from the drop in the long position's value.Moving together with Xtrackers Etf
0.83 | BND | Vanguard Total Bond | PairCorr |
Moving against Xtrackers Etf
0.61 | CIRC | JPMorgan | PairCorr |
0.47 | GLDX | USCF Gold Strategy Symbol Change | PairCorr |
The ability to find closely correlated positions to Xtrackers California could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Xtrackers California when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Xtrackers California - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Xtrackers California Municipal to buy it.
The correlation of Xtrackers California is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Xtrackers California moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xtrackers California moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Xtrackers California can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Xtrackers California Correlation, Xtrackers California Volatility and Xtrackers California Alpha and Beta module to complement your research on Xtrackers California. Note that the Xtrackers California information on this page should be used as a complementary analysis to other Xtrackers California's 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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Xtrackers California 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.