Ssga Active Trust Etf Market Value
| MBNE Etf | USD 29.57 0.01 0.03% |
| Symbol | SSGA |
The market value of SSGA Active Trust is measured differently than its book value, which is the value of SSGA that is recorded on the company's balance sheet. Investors also form their own opinion of SSGA Active's value that differs from its market value or its book value, called intrinsic value, which is SSGA Active'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 SSGA Active's market value can be influenced by many factors that don't directly affect SSGA Active'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 SSGA Active's value and its price as these two are different measures arrived at by different means. Investors typically determine if SSGA Active is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SSGA Active'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.
SSGA Active '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 SSGA Active'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 SSGA Active.
| 10/03/2024 |
| 11/02/2024 |
If you would invest 0.00 in SSGA Active on October 3, 2024 and sell it all today you would earn a total of 0.00 from holding SSGA Active Trust or generate 0.0% return on investment in SSGA Active over 30 days. SSGA Active is related to or competes with SSGA Active, SPDR MarketAxess, and SSGA Active. Under normal circumstances, the fund invests at least 80 percent of its net assets in municipal bonds that pay income th... More
SSGA Active 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 SSGA Active'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 SSGA Active Trust upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.40) | |||
| Maximum Drawdown | 1.11 | |||
| Value At Risk | (0.20) | |||
| Potential Upside | 0.2355 |
SSGA Active Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SSGA Active's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SSGA Active's standard deviation. In reality, there are many statistical measures that can use SSGA Active historical prices to predict the future SSGA Active's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.02) | |||
| Treynor Ratio | 0.2379 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SSGA Active'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.
SSGA Active Trust Backtested Returns
SSGA Active Trust owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0872, which indicates the etf had a -0.0872% return per unit of volatility over the last 3 months. SSGA Active Trust exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SSGA Active's risk adjusted performance of (0.05), and Variance of 0.0286 to confirm the risk estimate we provide. The entity has a beta of -0.0522, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SSGA Active are expected to decrease at a much lower rate. During the bear market, SSGA Active is likely to outperform the market.
Auto-correlation | 0.93 |
Excellent predictability
SSGA Active Trust has excellent predictability. Overlapping area represents the amount of predictability between SSGA Active time series from 3rd of October 2024 to 18th of October 2024 and 18th of October 2024 to 2nd 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 SSGA Active Trust price movement. The serial correlation of 0.93 indicates that approximately 93.0% of current SSGA Active price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.93 | |
| Spearman Rank Test | 0.8 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
SSGA Active Trust lagged returns against current returns
Autocorrelation, which is SSGA Active 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 SSGA Active's etf expected returns. We can calculate the autocorrelation of SSGA Active returns to help us make a trade decision. For example, suppose you find that SSGA Active 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 |
SSGA Active 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 SSGA Active etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SSGA Active etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SSGA Active etf over time.
Current vs Lagged Prices |
| Timeline |
SSGA Active Lagged Returns
When evaluating SSGA Active's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SSGA Active etf have on its future price. SSGA Active 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, SSGA Active autocorrelation shows the relationship between SSGA Active etf current value and its past values and can show if there is a momentum factor associated with investing in SSGA Active Trust.
Regressed Prices |
| Timeline |
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Check out SSGA Active Correlation, SSGA Active Volatility and SSGA Active Alpha and Beta module to complement your research on SSGA Active. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
SSGA Active 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.