SPDR SPASX (Australia) Market Value
| GOVT Etf | 24.43 0.07 0.29% |
| Symbol | SPDR |
SPDR SPASX '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 SPASX'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 SPASX.
| 09/05/2024 |
| 10/05/2024 |
If you would invest 0.00 in SPDR SPASX on September 5, 2024 and sell it all today you would earn a total of 0.00 from holding SPDR SPASX Australian or generate 0.0% return on investment in SPDR SPASX over 30 days. SPDR SPASX is related to or competes with Betashares Asia, BetaShares Australia, Australian High, and Vanguard Australian. SPDR SPASX is entity of Australia. It is traded as Etf on AU exchange. More
SPDR SPASX 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 SPASX'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 SPASX Australian upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3129 | |||
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 1.94 | |||
| Value At Risk | (0.41) | |||
| Potential Upside | 0.4918 |
SPDR SPASX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR SPASX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR SPASX's standard deviation. In reality, there are many statistical measures that can use SPDR SPASX historical prices to predict the future SPDR SPASX's volatility.| Risk Adjusted Performance | 0.13 | |||
| Jensen Alpha | 0.0554 | |||
| Total Risk Alpha | 0.0055 | |||
| Sortino Ratio | (0.18) | |||
| Treynor Ratio | (0.78) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR SPASX'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 SPASX Australian Backtested Returns
Currently, SPDR SPASX Australian is very steady. SPDR SPASX Australian owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.17, which indicates the etf had a 0.17% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for SPDR SPASX Australian, which you can use to evaluate the volatility of the etf. Please validate SPDR SPASX's risk adjusted performance of 0.13, and Coefficient Of Variation of 562.12 to confirm if the risk estimate we provide is consistent with the expected return of 0.0561%. The entity has a beta of -0.0628, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SPDR SPASX are expected to decrease at a much lower rate. During the bear market, SPDR SPASX is likely to outperform the market.
Auto-correlation | -0.36 |
Poor reverse predictability
SPDR SPASX Australian has poor reverse predictability. Overlapping area represents the amount of predictability between SPDR SPASX time series from 5th of September 2024 to 20th of September 2024 and 20th of September 2024 to 5th of October 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 SPASX Australian price movement. The serial correlation of -0.36 indicates that just about 36.0% of current SPDR SPASX price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
SPDR SPASX Australian lagged returns against current returns
Autocorrelation, which is SPDR SPASX 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 SPASX's etf expected returns. We can calculate the autocorrelation of SPDR SPASX returns to help us make a trade decision. For example, suppose you find that SPDR SPASX 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 SPASX 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 SPASX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR SPASX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR SPASX etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR SPASX Lagged Returns
When evaluating SPDR SPASX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR SPASX etf have on its future price. SPDR SPASX 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 SPASX autocorrelation shows the relationship between SPDR SPASX etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR SPASX Australian.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Other Information on Investing in SPDR Etf
SPDR SPASX financial ratios help investors to determine whether SPDR Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in SPDR with respect to the benefits of owning SPDR SPASX security.