Microsectors Travel 3x Etf Market Value
| FLYU Etf | USD 65.06 1.34 2.10% |
| Symbol | MicroSectors |
The market value of MicroSectors Travel is measured differently than its book value, which is the value of MicroSectors that is recorded on the company's balance sheet. Investors also form their own opinion of MicroSectors Travel's value that differs from its market value or its book value, called intrinsic value, which is MicroSectors Travel'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 MicroSectors Travel's market value can be influenced by many factors that don't directly affect MicroSectors Travel'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 MicroSectors Travel's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectors Travel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectors Travel'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.
MicroSectors Travel '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 MicroSectors Travel'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 MicroSectors Travel.
| 10/31/2023 |
| 11/24/2024 |
If you would invest 0.00 in MicroSectors Travel on October 31, 2023 and sell it all today you would earn a total of 0.00 from holding MicroSectors Travel 3X or generate 0.0% return on investment in MicroSectors Travel over 390 days. MicroSectors Travel is related to or competes with Direxion Daily, Direxion Daily, and Direxion Daily. MicroSectors Travel is entity of United States More
MicroSectors Travel 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 MicroSectors Travel'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 MicroSectors Travel 3X upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.58 | |||
| Information Ratio | 0.2971 | |||
| Maximum Drawdown | 15.38 | |||
| Value At Risk | (4.18) | |||
| Potential Upside | 7.48 |
MicroSectors Travel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MicroSectors Travel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MicroSectors Travel's standard deviation. In reality, there are many statistical measures that can use MicroSectors Travel historical prices to predict the future MicroSectors Travel's volatility.| Risk Adjusted Performance | 0.265 | |||
| Jensen Alpha | 0.7155 | |||
| Total Risk Alpha | 0.5964 | |||
| Sortino Ratio | 0.3921 | |||
| Treynor Ratio | 0.3277 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of MicroSectors Travel'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.
MicroSectors Travel Backtested Returns
MicroSectors Travel is very steady given 3 months investment horizon. MicroSectors Travel has Sharpe Ratio of 0.33, which conveys that the entity had a 0.33% return per unit of risk over the last 3 months. We have analyzed and interpolated thirty different technical indicators, which can help you to evaluate if expected returns of 1.09% are justified by taking the suggested risk. Use MicroSectors Travel Mean Deviation of 2.65, downside deviation of 2.58, and Risk Adjusted Performance of 0.265 to evaluate company specific risk that cannot be diversified away. The etf secures a Beta (Market Risk) of 3.46, which conveys 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, MicroSectors Travel will likely underperform.
Auto-correlation | 0.02 |
Virtually no predictability
MicroSectors Travel 3X has virtually no predictability. Overlapping area represents the amount of predictability between MicroSectors Travel time series from 31st of October 2023 to 13th of May 2024 and 13th of May 2024 to 24th of November 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 MicroSectors Travel price movement. The serial correlation of 0.02 indicates that only 2.0% of current MicroSectors Travel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 73.91 |
MicroSectors Travel lagged returns against current returns
Autocorrelation, which is MicroSectors Travel 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 MicroSectors Travel's etf expected returns. We can calculate the autocorrelation of MicroSectors Travel returns to help us make a trade decision. For example, suppose you find that MicroSectors Travel 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 |
MicroSectors Travel 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 MicroSectors Travel etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MicroSectors Travel etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MicroSectors Travel etf over time.
Current vs Lagged Prices |
| Timeline |
MicroSectors Travel Lagged Returns
When evaluating MicroSectors Travel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MicroSectors Travel etf have on its future price. MicroSectors Travel 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, MicroSectors Travel autocorrelation shows the relationship between MicroSectors Travel etf current value and its past values and can show if there is a momentum factor associated with investing in MicroSectors Travel 3X.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out MicroSectors Travel Correlation, MicroSectors Travel Volatility and MicroSectors Travel Alpha and Beta module to complement your research on MicroSectors Travel. You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
MicroSectors Travel 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.