Spear Alpha Etf Market Value
| SPRX Etf | USD 31.85 0.28 0.89% |
| Symbol | Spear |
The market value of Spear Alpha ETF is measured differently than its book value, which is the value of Spear that is recorded on the company's balance sheet. Investors also form their own opinion of Spear Alpha's value that differs from its market value or its book value, called intrinsic value, which is Spear Alpha'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 Spear Alpha's market value can be influenced by many factors that don't directly affect Spear Alpha'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 Spear Alpha's value and its price as these two are different measures arrived at by different means. Investors typically determine if Spear Alpha is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Spear Alpha'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.
Spear Alpha '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 Spear Alpha'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 Spear Alpha.
| 04/26/2025 |
| 07/25/2025 |
If you would invest 0.00 in Spear Alpha on April 26, 2025 and sell it all today you would earn a total of 0.00 from holding Spear Alpha ETF or generate 0.0% return on investment in Spear Alpha over 90 days. Spear Alpha is related to or competes with Pharming Group, and ETF Series. The fund is an actively-managed exchange-traded fund that will invest primarily in equity securities, including common s... More
Spear Alpha 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 Spear Alpha'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 Spear Alpha ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.48 | |||
| Information Ratio | 0.3093 | |||
| Maximum Drawdown | 10.29 | |||
| Value At Risk | (2.34) | |||
| Potential Upside | 4.75 |
Spear Alpha Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Spear Alpha's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Spear Alpha's standard deviation. In reality, there are many statistical measures that can use Spear Alpha historical prices to predict the future Spear Alpha's volatility.| Risk Adjusted Performance | 0.3634 | |||
| Jensen Alpha | 0.5598 | |||
| Total Risk Alpha | 0.2923 | |||
| Sortino Ratio | 0.4218 | |||
| Treynor Ratio | 0.6722 |
Spear Alpha ETF Backtested Returns
Spear Alpha appears to be very steady, given 3 months investment horizon. Spear Alpha ETF owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.35, which indicates the etf had a 0.35 % return per unit of risk over the last 3 months. By inspecting Spear Alpha's technical indicators, you can evaluate if the expected return of 0.66% is justified by implied risk. Please review Spear Alpha's Coefficient Of Variation of 232.75, risk adjusted performance of 0.3634, and Semi Deviation of 0.7495 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 1.27, which indicates 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, Spear Alpha will likely underperform.
Auto-correlation | 0.90 |
Excellent predictability
Spear Alpha ETF has excellent predictability. Overlapping area represents the amount of predictability between Spear Alpha time series from 26th of April 2025 to 10th of June 2025 and 10th of June 2025 to 25th of July 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Spear Alpha ETF price movement. The serial correlation of 0.9 indicates that approximately 90.0% of current Spear Alpha price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.9 | |
| Spearman Rank Test | 0.91 | |
| Residual Average | 0.0 | |
| Price Variance | 1.96 |
Spear Alpha ETF lagged returns against current returns
Autocorrelation, which is Spear Alpha 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 Spear Alpha's etf expected returns. We can calculate the autocorrelation of Spear Alpha returns to help us make a trade decision. For example, suppose you find that Spear Alpha 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 |
Spear Alpha 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 Spear Alpha etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Spear Alpha etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Spear Alpha etf over time.
Current vs Lagged Prices |
| Timeline |
Spear Alpha Lagged Returns
When evaluating Spear Alpha's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Spear Alpha etf have on its future price. Spear Alpha 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, Spear Alpha autocorrelation shows the relationship between Spear Alpha etf current value and its past values and can show if there is a momentum factor associated with investing in Spear Alpha ETF.
Regressed Prices |
| Timeline |
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Check out Spear Alpha Correlation, Spear Alpha Volatility and Spear Alpha Alpha and Beta module to complement your research on Spear Alpha. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Spear Alpha 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.