Aam Sp Developed Etf Market Value
| DMDV Etf | USD 22.18 0.11 0.50% |
| Symbol | AAM |
The market value of AAM SP Developed is measured differently than its book value, which is the value of AAM that is recorded on the company's balance sheet. Investors also form their own opinion of AAM SP's value that differs from its market value or its book value, called intrinsic value, which is AAM 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 AAM SP's market value can be influenced by many factors that don't directly affect AAM 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 AAM SP's value and its price as these two are different measures arrived at by different means. Investors typically determine if AAM SP is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AAM 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.
AAM 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 AAM 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 AAM SP.
| 03/29/2024 |
| 04/28/2024 |
If you would invest 0.00 in AAM SP on March 29, 2024 and sell it all today you would earn a total of 0.00 from holding AAM SP Developed or generate 0.0% return on investment in AAM SP over 30 days. AAM SP is related to or competes with AAM SP, Xtrackers MSCI, Global X, Invesco SP, and AAM SP. The index is designed to provide exposure to the constituents of the SP Developed BMI Ex-U.S More
AAM 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 AAM 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 AAM SP Developed upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6955 | |||
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 2.9 | |||
| Value At Risk | (1.28) | |||
| Potential Upside | 0.9375 |
AAM SP Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AAM SP's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AAM SP's standard deviation. In reality, there are many statistical measures that can use AAM SP historical prices to predict the future AAM SP's volatility.| Risk Adjusted Performance | 0.0043 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.12) | |||
| Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of AAM 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.
AAM SP Developed Backtested Returns
AAM SP Developed secures Sharpe Ratio (or Efficiency) of -0.0097, which signifies that the etf had a -0.0097% return per unit of return volatility over the last 3 months. AAM SP Developed exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm AAM SP's Mean Deviation of 0.5071, coefficient of variation of 15725.38, and Downside Deviation of 0.6955 to double-check the risk estimate we provide. The entity shows a Beta (market volatility) of 0.84, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, AAM SP's returns are expected to increase less than the market. However, during the bear market, the loss of holding AAM SP is expected to be smaller as well.
Auto-correlation | -0.31 |
Poor reverse predictability
AAM SP Developed has poor reverse predictability. Overlapping area represents the amount of predictability between AAM SP time series from 29th of March 2024 to 13th of April 2024 and 13th of April 2024 to 28th 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 AAM SP Developed price movement. The serial correlation of -0.31 indicates that nearly 31.0% of current AAM SP price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.31 | |
| Spearman Rank Test | -0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
AAM SP Developed lagged returns against current returns
Autocorrelation, which is AAM 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 AAM SP's etf expected returns. We can calculate the autocorrelation of AAM SP returns to help us make a trade decision. For example, suppose you find that AAM 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 |
AAM 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 AAM SP etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AAM SP etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AAM SP etf over time.
Current vs Lagged Prices |
| Timeline |
AAM SP Lagged Returns
When evaluating AAM SP's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AAM SP etf have on its future price. AAM 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, AAM SP autocorrelation shows the relationship between AAM SP etf current value and its past values and can show if there is a momentum factor associated with investing in AAM SP Developed.
Regressed Prices |
| Timeline |
Pair Trading with AAM SP
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 AAM SP 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 AAM SP will appreciate offsetting losses from the drop in the long position's value.Moving together with AAM Etf
| 0.72 | EFV | iShares MSCI EAFE | PairCorr |
| 0.69 | FNDF | Schwab Fundamental | PairCorr |
| 0.73 | VYMI | Vanguard International | PairCorr |
| 0.75 | IDV | iShares International | PairCorr |
The ability to find closely correlated positions to AAM SP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AAM SP 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 AAM SP - 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 AAM SP Developed to buy it.
The correlation of AAM SP 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 AAM SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AAM SP Developed 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 AAM SP 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 AAM SP Correlation, AAM SP Volatility and AAM SP Alpha and Beta module to complement your research on AAM SP. Note that the AAM SP Developed information on this page should be used as a complementary analysis to other AAM SP'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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
AAM 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.