Graniteshares Etf Trust Etf Fundamentals
| DRUP Etf | 55.83 0.30 0.54% |
GraniteShares ETF Trust fundamentals help investors to digest information that contributes to GraniteShares ETF's financial success or failures. It also enables traders to predict the movement of GraniteShares Etf. The fundamental analysis module provides a way to measure GraniteShares ETF's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to GraniteShares ETF etf.
GraniteShares |
GraniteShares ETF Trust ETF Beta Analysis
GraniteShares ETF's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current GraniteShares ETF Beta | 1.12 |
Most of GraniteShares ETF's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, GraniteShares ETF Trust is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
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In accordance with the recently published financial statements, GraniteShares ETF Trust has a Beta of 1.12. This is much higher than that of the family and significantly higher than that of the Large Growth category. The beta for all United States etfs is notably lower than that of the firm.
GraniteShares Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses GraniteShares ETF's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of GraniteShares ETF could also be used in its relative valuation, which is a method of valuing GraniteShares ETF by comparing valuation metrics of similar companies.GraniteShares ETF is currently under evaluation in beta as compared to similar ETFs.
GraniteShares ETF returns are very sensitive to returns on the market. As the market goes up or down, GraniteShares ETF is expected to follow.
GraniteShares Fundamentals
| Beta | 1.12 | |||
| One Year Return | 33.80 % | |||
| Three Year Return | 7.10 % | |||
| Five Year Return | 15.70 % |
About GraniteShares ETF Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze GraniteShares ETF Trust's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of GraniteShares ETF using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of GraniteShares ETF Trust based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.GraniteShares ETF is entity of United States. It is traded as Etf on NYSE ARCA exchange.
Pair Trading with GraniteShares ETF
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 GraniteShares ETF 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 GraniteShares ETF will appreciate offsetting losses from the drop in the long position's value.Moving together with GraniteShares Etf
| 0.98 | VUG | Vanguard Growth Index Sell-off Trend | PairCorr |
| 0.97 | IWF | iShares Russell 1000 | PairCorr |
| 0.97 | IVW | iShares SP 500 Sell-off Trend | PairCorr |
| 0.97 | SPYG | SPDR Portfolio SP Sell-off Trend | PairCorr |
| 0.97 | IUSG | iShares Core SP | PairCorr |
Moving against GraniteShares Etf
The ability to find closely correlated positions to GraniteShares ETF could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GraniteShares ETF 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 GraniteShares ETF - 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 GraniteShares ETF Trust to buy it.
The correlation of GraniteShares ETF 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 GraniteShares ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares ETF Trust 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 GraniteShares ETF 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 GraniteShares ETF Piotroski F Score and GraniteShares ETF Altman Z Score analysis. To learn how to invest in GraniteShares Etf, please use our How to Invest in GraniteShares ETF guide.You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
The market value of GraniteShares ETF Trust is measured differently than its book value, which is the value of GraniteShares that is recorded on the company's balance sheet. Investors also form their own opinion of GraniteShares ETF's value that differs from its market value or its book value, called intrinsic value, which is GraniteShares ETF'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 GraniteShares ETF's market value can be influenced by many factors that don't directly affect GraniteShares ETF'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 GraniteShares ETF's value and its price as these two are different measures arrived at by different means. Investors typically determine if GraniteShares ETF is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GraniteShares ETF'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.