Consumer Discretionary Select Etf Market Value

XLY Etf  USD 184.46  2.11  1.16%   
Consumer Discretionary's market value is the price at which a share of Consumer Discretionary trades on a public exchange. It measures the collective expectations of Consumer Discretionary Select investors about its performance. Consumer Discretionary is trading at 184.46 as of the 28th of March 2024; that is 1.16 percent increase since the beginning of the trading day. The etf's open price was 182.35.
With this module, you can estimate the performance of a buy and hold strategy of Consumer Discretionary Select and determine expected loss or profit from investing in Consumer Discretionary over a given investment horizon. Check out Consumer Discretionary Correlation, Consumer Discretionary Volatility and Consumer Discretionary Alpha and Beta module to complement your research on Consumer Discretionary.
Symbol

The market value of Consumer Discretionary is measured differently than its book value, which is the value of Consumer that is recorded on the company's balance sheet. Investors also form their own opinion of Consumer Discretionary's value that differs from its market value or its book value, called intrinsic value, which is Consumer Discretionary'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 Consumer Discretionary's market value can be influenced by many factors that don't directly affect Consumer Discretionary'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 Consumer Discretionary's value and its price as these two are different measures arrived at by different means. Investors typically determine if Consumer Discretionary is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Consumer Discretionary'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.

Consumer Discretionary '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 Consumer Discretionary'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 Consumer Discretionary.
0.00
02/27/2024
No Change 0.00  0.0 
In 30 days
03/28/2024
0.00
If you would invest  0.00  in Consumer Discretionary on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Consumer Discretionary Select or generate 0.0% return on investment in Consumer Discretionary over 30 days. Consumer Discretionary is related to or competes with First Trust, First Trust, Direxion Daily, and VanEck Mortgage. The fund generally invests substantially all, but at least 95, of its total assets in the securities comprising the inde... More

Consumer Discretionary 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 Consumer Discretionary'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 Consumer Discretionary Select upside and downside potential and time the market with a certain degree of confidence.

Consumer Discretionary Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Consumer Discretionary's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Consumer Discretionary's standard deviation. In reality, there are many statistical measures that can use Consumer Discretionary historical prices to predict the future Consumer Discretionary's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Consumer Discretionary'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.
Hype
Prediction
LowEstimatedHigh
183.58184.55185.52
Details
Intrinsic
Valuation
LowRealHigh
168.73169.70202.91
Details
Naive
Forecast
LowNextHigh
186.53187.50188.48
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
180.87182.98185.08
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Consumer Discretionary. Your research has to be compared to or analyzed against Consumer Discretionary's peers to derive any actionable benefits. When done correctly, Consumer Discretionary's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Consumer Discretionary.

Consumer Discretionary Backtested Returns

We consider Consumer Discretionary very steady. Consumer Discretionary secures Sharpe Ratio (or Efficiency) of 0.0609, which signifies that the etf had a 0.0609% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Consumer Discretionary Select, which you can use to evaluate the volatility of the entity. Please confirm Consumer Discretionary's Downside Deviation of 0.9299, mean deviation of 0.7816, and Risk Adjusted Performance of 0.0264 to double-check if the risk estimate we provide is consistent with the expected return of 0.0593%. The etf shows a Beta (market volatility) of 1.25, which signifies 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, Consumer Discretionary will likely underperform.

Auto-correlation

    
  -0.87  

Excellent reverse predictability

Consumer Discretionary Select has excellent reverse predictability. Overlapping area represents the amount of predictability between Consumer Discretionary time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th of March 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 Consumer Discretionary price movement. The serial correlation of -0.87 indicates that approximately 87.0% of current Consumer Discretionary price fluctuation can be explain by its past prices.
Correlation Coefficient-0.87
Spearman Rank Test-0.4
Residual Average0.0
Price Variance4.48

Consumer Discretionary lagged returns against current returns

Autocorrelation, which is Consumer Discretionary 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 Consumer Discretionary's etf expected returns. We can calculate the autocorrelation of Consumer Discretionary returns to help us make a trade decision. For example, suppose you find that Consumer Discretionary 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  

Consumer Discretionary 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 Consumer Discretionary etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Consumer Discretionary etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Consumer Discretionary etf over time.
   Current vs Lagged Prices   
       Timeline  

Consumer Discretionary Lagged Returns

When evaluating Consumer Discretionary's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Consumer Discretionary etf have on its future price. Consumer Discretionary 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, Consumer Discretionary autocorrelation shows the relationship between Consumer Discretionary etf current value and its past values and can show if there is a momentum factor associated with investing in Consumer Discretionary Select.
   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 Consumer Discretionary offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Consumer Discretionary's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Consumer Discretionary Select Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Consumer Discretionary Select Etf:
Check out Consumer Discretionary Correlation, Consumer Discretionary Volatility and Consumer Discretionary Alpha and Beta module to complement your research on Consumer Discretionary.
You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.

Complementary Tools for Consumer Etf analysis

When running Consumer Discretionary's price analysis, check to measure Consumer Discretionary's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Consumer Discretionary is operating at the current time. Most of Consumer Discretionary's value examination focuses on studying past and present price action to predict the probability of Consumer Discretionary's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Consumer Discretionary's price. Additionally, you may evaluate how the addition of Consumer Discretionary to your portfolios can decrease your overall portfolio volatility.
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Consumer Discretionary 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.
A focus of Consumer Discretionary technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Consumer Discretionary trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...