Vaneck Oil Services Etf Market Value
| OIH Etf | USD 325.95 0.21 0.06% |
| Symbol | VanEck |
The market value of VanEck Oil Services is measured differently than its book value, which is the value of VanEck that is recorded on the company's balance sheet. Investors also form their own opinion of VanEck Oil's value that differs from its market value or its book value, called intrinsic value, which is VanEck Oil'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 VanEck Oil's market value can be influenced by many factors that don't directly affect VanEck Oil'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 VanEck Oil's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Oil is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Oil'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.
VanEck Oil '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 VanEck Oil'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 VanEck Oil.
| 03/28/2024 |
| 04/27/2024 |
If you would invest 0.00 in VanEck Oil on March 28, 2024 and sell it all today you would earn a total of 0.00 from holding VanEck Oil Services or generate 0.0% return on investment in VanEck Oil over 30 days. VanEck Oil is related to or competes with IShares Basic, IShares Utilities, IShares Financials, and IShares Healthcare. The fund normally invests at least 80 percent of its total assets in securities that comprise the funds benchmark index More
VanEck Oil 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 VanEck Oil'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 VanEck Oil Services upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.16 | |||
| Information Ratio | 0.0339 | |||
| Maximum Drawdown | 5.53 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 2.21 |
VanEck Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for VanEck Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as VanEck Oil's standard deviation. In reality, there are many statistical measures that can use VanEck Oil historical prices to predict the future VanEck Oil's volatility.| Risk Adjusted Performance | 0.0713 | |||
| Jensen Alpha | 0.0363 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0359 | |||
| Treynor Ratio | 0.1132 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of VanEck Oil'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.
VanEck Oil Services Backtested Returns
We consider VanEck Oil very steady. VanEck Oil Services owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0838, which indicates the etf had a 0.0838% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for VanEck Oil Services, which you can use to evaluate the volatility of the etf. Please validate VanEck Oil's Semi Deviation of 1.06, risk adjusted performance of 0.0713, and Coefficient Of Variation of 939.31 to confirm if the risk estimate we provide is consistent with the expected return of 0.1%. The entity has a beta of 1.07, which indicates a somewhat significant risk relative to the market. VanEck Oil returns are very sensitive to returns on the market. As the market goes up or down, VanEck Oil is expected to follow.
Auto-correlation | -0.71 |
Almost perfect reverse predictability
VanEck Oil Services has almost perfect reverse predictability. Overlapping area represents the amount of predictability between VanEck Oil time series from 28th of March 2024 to 12th of April 2024 and 12th of April 2024 to 27th 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 VanEck Oil Services price movement. The serial correlation of -0.71 indicates that around 71.0% of current VanEck Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.71 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 12.81 |
VanEck Oil Services lagged returns against current returns
Autocorrelation, which is VanEck Oil 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 VanEck Oil's etf expected returns. We can calculate the autocorrelation of VanEck Oil returns to help us make a trade decision. For example, suppose you find that VanEck Oil 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 |
VanEck Oil 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 VanEck Oil etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if VanEck Oil etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in VanEck Oil etf over time.
Current vs Lagged Prices |
| Timeline |
VanEck Oil Lagged Returns
When evaluating VanEck Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of VanEck Oil etf have on its future price. VanEck Oil 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, VanEck Oil autocorrelation shows the relationship between VanEck Oil etf current value and its past values and can show if there is a momentum factor associated with investing in VanEck Oil Services.
Regressed Prices |
| Timeline |
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VanEck Oil 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.