Consumer Discretionary Select Etf Market Value
| XLY Etf | USD 180.00 4.09 2.33% |
| Symbol | Consumer |
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.
| 03/30/2024 |
| 04/29/2024 |
If you would invest 0.00 in Consumer Discretionary on March 30, 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 ProShares Long, WisdomTree Cloud, and Global X. 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.
| Downside Deviation | 1.05 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 3.91 | |||
| Value At Risk | (1.62) | |||
| Potential Upside | 1.49 |
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.| Risk Adjusted Performance | 0.0246 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.10) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0194 |
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.
Consumer Discretionary Backtested Returns
We consider Consumer Discretionary very steady. Consumer Discretionary secures Sharpe Ratio (or Efficiency) of 0.0252, which signifies that the etf had a 0.0252% 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 Risk Adjusted Performance of 0.0246, downside deviation of 1.05, and Mean Deviation of 0.828 to double-check if the risk estimate we provide is consistent with the expected return of 0.0247%. The etf shows a Beta (market volatility) of 1.19, 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 | -0.6 |
Good reverse predictability
Consumer Discretionary Select has good reverse predictability. Overlapping area represents the amount of predictability between Consumer Discretionary time series from 30th of March 2024 to 14th of April 2024 and 14th of April 2024 to 29th 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 Consumer Discretionary price movement. The serial correlation of -0.6 indicates that roughly 60.0% of current Consumer Discretionary price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.6 | |
| Spearman Rank Test | 0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 7.27 |
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 |
Consumer Discretionary Implied Volatility | 24.53 |
Consumer Discretionary's implied volatility exposes the market's sentiment of Consumer Discretionary Select stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Consumer Discretionary's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Consumer Discretionary stock will not fluctuate a lot when Consumer Discretionary's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Consumer Discretionary in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Consumer Discretionary's short interest history, or implied volatility extrapolated from Consumer Discretionary options trading.
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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.