Zillow Group Class Etf Market Value
| Z Etf | USD 42.24 0.42 1.00% |
| Symbol | Zillow |
The market value of Zillow Group Class is measured differently than its book value, which is the value of Zillow that is recorded on the company's balance sheet. Investors also form their own opinion of Zillow Group's value that differs from its market value or its book value, called intrinsic value, which is Zillow Group'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 Zillow Group's market value can be influenced by many factors that don't directly affect Zillow Group'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 Zillow Group's value and its price as these two are different measures arrived at by different means. Investors typically determine if Zillow Group is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Zillow Group'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.
Zillow Group '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 Zillow Group'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 Zillow Group.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Zillow Group on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding Zillow Group Class or generate 0.0% return on investment in Zillow Group over 30 days. Zillow Group is related to or competes with Pinterest, Snap, Spotify Technology, Twilio, Match, YY, and DoorDash. Zillow Group, Inc., a digital real estate company, operates real estate brands on mobile applications and Websites in th... More
Zillow Group 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 Zillow Group'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 Zillow Group Class upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 21.25 | |||
| Value At Risk | (4.97) | |||
| Potential Upside | 3.47 |
Zillow Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zillow Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zillow Group's standard deviation. In reality, there are many statistical measures that can use Zillow Group historical prices to predict the future Zillow Group's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.48) | |||
| Total Risk Alpha | (0.65) | |||
| Treynor Ratio | (0.12) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Zillow Group'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.
Zillow Group Class Backtested Returns
Zillow Group Class shows Sharpe Ratio of -0.12, which attests that the etf had a -0.12% return per unit of risk over the last 3 months. Zillow Group Class exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Zillow Group's Standard Deviation of 2.88, mean deviation of 1.99, and Market Risk Adjusted Performance of (0.11) to validate the risk estimate we provide. The entity maintains a market beta of 2.47, which attests to 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, Zillow Group will likely underperform.
Auto-correlation | 0.72 |
Good predictability
Zillow Group Class has good predictability. Overlapping area represents the amount of predictability between Zillow Group time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 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 Zillow Group Class price movement. The serial correlation of 0.72 indicates that around 72.0% of current Zillow Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 4.45 |
Zillow Group Class lagged returns against current returns
Autocorrelation, which is Zillow Group 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 Zillow Group's etf expected returns. We can calculate the autocorrelation of Zillow Group returns to help us make a trade decision. For example, suppose you find that Zillow Group 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 |
Zillow Group 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 Zillow Group etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zillow Group etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zillow Group etf over time.
Current vs Lagged Prices |
| Timeline |
Zillow Group Lagged Returns
When evaluating Zillow Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zillow Group etf have on its future price. Zillow Group 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, Zillow Group autocorrelation shows the relationship between Zillow Group etf current value and its past values and can show if there is a momentum factor associated with investing in Zillow Group Class.
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.Check out Zillow Group Correlation, Zillow Group Volatility and Zillow Group Alpha and Beta module to complement your research on Zillow Group. For more information on how to buy Zillow Etf please use our How to Invest in Zillow Group guide.Note that the Zillow Group Class information on this page should be used as a complementary analysis to other Zillow Group'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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Zillow Group 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.