Australian Dollar's market value is the price at which a share of Australian Dollar trades on a public exchange. It measures the collective expectations of Australian Dollar Currency investors about its performance. Australian Dollar is listed at 59.70 as of the 28th of December 2024, which is a 0.33% down since the beginning of the trading day. The index's lowest day price was 59.7. With this module, you can estimate the performance of a buy and hold strategy of Australian Dollar Currency and determine expected loss or profit from investing in Australian Dollar over a given investment horizon. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any index could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.
Symbol
Australian
Australian Dollar '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 Australian Dollar's index 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 Australian Dollar.
0.00
07/01/2024
No Change 0.00
0.0
In 5 months and 29 days
12/28/2024
0.00
If you would invest 0.00 in Australian Dollar on July 1, 2024 and sell it all today you would earn a total of 0.00 from holding Australian Dollar Currency or generate 0.0% return on investment in Australian Dollar over 180 days.
Australian Dollar 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 Australian Dollar's index 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 Australian Dollar Currency upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Australian Dollar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Australian Dollar's standard deviation. In reality, there are many statistical measures that can use Australian Dollar historical prices to predict the future Australian Dollar's volatility.
Australian Dollar secures Sharpe Ratio (or Efficiency) of -0.2, which signifies that the index had a -0.2% return per unit of risk over the last 3 months. Australian Dollar Currency exposes eighteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. The index shows a Beta (market volatility) of 0.0, which signifies not very significant fluctuations relative to the market. the returns on MARKET and Australian Dollar are completely uncorrelated.
Auto-correlation
0.56
Modest predictability
Australian Dollar Currency has modest predictability. Overlapping area represents the amount of predictability between Australian Dollar time series from 1st of July 2024 to 29th of September 2024 and 29th of September 2024 to 28th of December 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 Australian Dollar price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current Australian Dollar price fluctuation can be explain by its past prices.
Correlation Coefficient
0.56
Spearman Rank Test
0.4
Residual Average
0.0
Price Variance
0.7
Australian Dollar lagged returns against current returns
Autocorrelation, which is Australian Dollar index'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 Australian Dollar's index expected returns. We can calculate the autocorrelation of Australian Dollar returns to help us make a trade decision. For example, suppose you find that Australian Dollar has exhibited high autocorrelation historically, and you observe that the index 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
Australian Dollar 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 Australian Dollar index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Australian Dollar index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Australian Dollar index over time.
Current vs Lagged Prices
Timeline
Australian Dollar Lagged Returns
When evaluating Australian Dollar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Australian Dollar index have on its future price. Australian Dollar 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, Australian Dollar autocorrelation shows the relationship between Australian Dollar index current value and its past values and can show if there is a momentum factor associated with investing in Australian Dollar Currency.
Regressed Prices
Timeline
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