Wisdomtree Mortgage Plus Etf Market Value
| MTGP Etf | USD 43.69 0.02 0.05% |
| Symbol | WisdomTree |
The market value of WisdomTree Mortgage Plus is measured differently than its book value, which is the value of WisdomTree that is recorded on the company's balance sheet. Investors also form their own opinion of WisdomTree Mortgage's value that differs from its market value or its book value, called intrinsic value, which is WisdomTree Mortgage'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 WisdomTree Mortgage's market value can be influenced by many factors that don't directly affect WisdomTree Mortgage'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 WisdomTree Mortgage's value and its price as these two are different measures arrived at by different means. Investors typically determine if WisdomTree Mortgage is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, WisdomTree Mortgage'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.
WisdomTree Mortgage '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 WisdomTree Mortgage'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 WisdomTree Mortgage.
| 10/22/2024 |
| 11/21/2024 |
If you would invest 0.00 in WisdomTree Mortgage on October 22, 2024 and sell it all today you would earn a total of 0.00 from holding WisdomTree Mortgage Plus or generate 0.0% return on investment in WisdomTree Mortgage over 30 days. WisdomTree Mortgage is related to or competes with MicroAlgo, Morningstar Unconstrained, Thrivent High, SPACE, Via Renewables, Bayview Acquisition, and Aeye. The fund, an actively managed ETF, utilizes an investment process combining both macro and fundamental research by inves... More
WisdomTree Mortgage 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 WisdomTree Mortgage'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 WisdomTree Mortgage Plus upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.35) | |||
| Maximum Drawdown | 1.81 | |||
| Value At Risk | (0.63) | |||
| Potential Upside | 0.4735 |
WisdomTree Mortgage Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WisdomTree Mortgage's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WisdomTree Mortgage's standard deviation. In reality, there are many statistical measures that can use WisdomTree Mortgage historical prices to predict the future WisdomTree Mortgage's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | 5.75 |
WisdomTree Mortgage Plus Backtested Returns
WisdomTree Mortgage Plus shows Sharpe Ratio of -0.0853, which attests that the etf had a -0.0853% return per unit of risk over the last 3 months. WisdomTree Mortgage Plus exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out WisdomTree Mortgage's Standard Deviation of 0.3318, market risk adjusted performance of 5.76, and Mean Deviation of 0.2521 to validate the risk estimate we provide. The entity maintains a market beta of -0.0056, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning WisdomTree Mortgage are expected to decrease at a much lower rate. During the bear market, WisdomTree Mortgage is likely to outperform the market.
Auto-correlation | 0.41 |
Average predictability
WisdomTree Mortgage Plus has average predictability. Overlapping area represents the amount of predictability between WisdomTree Mortgage time series from 22nd of October 2024 to 6th of November 2024 and 6th of November 2024 to 21st 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 WisdomTree Mortgage Plus price movement. The serial correlation of 0.41 indicates that just about 41.0% of current WisdomTree Mortgage price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
WisdomTree Mortgage Plus lagged returns against current returns
Autocorrelation, which is WisdomTree Mortgage 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 WisdomTree Mortgage's etf expected returns. We can calculate the autocorrelation of WisdomTree Mortgage returns to help us make a trade decision. For example, suppose you find that WisdomTree Mortgage 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 |
WisdomTree Mortgage 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 WisdomTree Mortgage etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WisdomTree Mortgage etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WisdomTree Mortgage etf over time.
Current vs Lagged Prices |
| Timeline |
WisdomTree Mortgage Lagged Returns
When evaluating WisdomTree Mortgage's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WisdomTree Mortgage etf have on its future price. WisdomTree Mortgage 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, WisdomTree Mortgage autocorrelation shows the relationship between WisdomTree Mortgage etf current value and its past values and can show if there is a momentum factor associated with investing in WisdomTree Mortgage Plus.
Regressed Prices |
| Timeline |
Pair Trading with WisdomTree Mortgage
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 WisdomTree Mortgage 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 WisdomTree Mortgage will appreciate offsetting losses from the drop in the long position's value.Moving together with WisdomTree Etf
| 0.99 | IUSB | iShares Core Total Sell-off Trend | PairCorr |
| 0.99 | FIXD | First Trust TCW | PairCorr |
| 0.99 | FBND | Fidelity Total Bond Sell-off Trend | PairCorr |
| 0.99 | TOTL | SPDR DoubleLine Total | PairCorr |
| 0.99 | HTRB | Hartford Total Return | PairCorr |
Moving against WisdomTree Etf
| 0.93 | TBT | ProShares UltraShort | PairCorr |
| 0.93 | TMV | Direxion Daily 20 | PairCorr |
| 0.92 | YCS | ProShares UltraShort Yen | PairCorr |
| 0.72 | USD | ProShares Ultra Semi | PairCorr |
| 0.69 | ATMP | Barclays ETN Select Low Volatility | PairCorr |
The ability to find closely correlated positions to WisdomTree Mortgage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WisdomTree Mortgage 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 WisdomTree Mortgage - 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 WisdomTree Mortgage Plus to buy it.
The correlation of WisdomTree Mortgage 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 WisdomTree Mortgage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Mortgage Plus 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 WisdomTree Mortgage 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 WisdomTree Mortgage Correlation, WisdomTree Mortgage Volatility and WisdomTree Mortgage Alpha and Beta module to complement your research on WisdomTree Mortgage. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
WisdomTree Mortgage 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.