Proshares Bitcoin Strategy Etf Market Value
| BITO Etf | USD 18.87 1.02 5.71% |
| Symbol | ProShares |
The market value of ProShares Bitcoin is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Bitcoin's value that differs from its market value or its book value, called intrinsic value, which is ProShares Bitcoin'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 ProShares Bitcoin's market value can be influenced by many factors that don't directly affect ProShares Bitcoin'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 ProShares Bitcoin's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Bitcoin is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Bitcoin'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.
ProShares Bitcoin '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 ProShares Bitcoin'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 ProShares Bitcoin.
| 12/15/2024 |
| 03/15/2025 |
If you would invest 0.00 in ProShares Bitcoin on December 15, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Bitcoin Strategy or generate 0.0% return on investment in ProShares Bitcoin over 90 days. ProShares Bitcoin is related to or competes with Grayscale Bitcoin, Coinbase Global, Valkyrie Bitcoin, and Robinhood Markets. The fund adviser seeks to provide capital appreciation primarily through managed exposure to bitcoin futures contracts More
ProShares Bitcoin 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 ProShares Bitcoin'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 ProShares Bitcoin Strategy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 16.03 | |||
| Value At Risk | (5.89) | |||
| Potential Upside | 4.47 |
ProShares Bitcoin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Bitcoin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Bitcoin's standard deviation. In reality, there are many statistical measures that can use ProShares Bitcoin historical prices to predict the future ProShares Bitcoin's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | 0.2202 | |||
| Treynor Ratio | (1.13) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Bitcoin'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.
ProShares Bitcoin Backtested Returns
ProShares Bitcoin maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the entity had a -0.11 % return per unit of risk over the last 3 months. ProShares Bitcoin exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check ProShares Bitcoin's Risk Adjusted Performance of (0.07), variance of 10.04, and Coefficient Of Variation of (1,043) to confirm the risk estimate we provide. The etf holds a Beta of 0.28, which implies not very significant fluctuations relative to the market. As returns on the market increase, ProShares Bitcoin's returns are expected to increase less than the market. However, during the bear market, the loss of holding ProShares Bitcoin is expected to be smaller as well.
Auto-correlation | -0.24 |
Weak reverse predictability
ProShares Bitcoin Strategy has weak reverse predictability. Overlapping area represents the amount of predictability between ProShares Bitcoin time series from 15th of December 2024 to 29th of January 2025 and 29th of January 2025 to 15th of March 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 ProShares Bitcoin price movement. The serial correlation of -0.24 indicates that over 24.0% of current ProShares Bitcoin price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.24 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 2.41 |
ProShares Bitcoin lagged returns against current returns
Autocorrelation, which is ProShares Bitcoin 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 ProShares Bitcoin's etf expected returns. We can calculate the autocorrelation of ProShares Bitcoin returns to help us make a trade decision. For example, suppose you find that ProShares Bitcoin 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 |
ProShares Bitcoin 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 ProShares Bitcoin etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Bitcoin etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Bitcoin etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Bitcoin Lagged Returns
When evaluating ProShares Bitcoin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Bitcoin etf have on its future price. ProShares Bitcoin 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, ProShares Bitcoin autocorrelation shows the relationship between ProShares Bitcoin etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Bitcoin Strategy.
Regressed Prices |
| Timeline |
Pair Trading with ProShares Bitcoin
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 ProShares Bitcoin 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 ProShares Bitcoin will appreciate offsetting losses from the drop in the long position's value.Moving together with ProShares Etf
| 1.0 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.88 | BLOK | Amplify Transformational | PairCorr |
| 0.89 | BLCN | Siren Nasdaq NexGen | PairCorr |
Moving against ProShares Etf
| 0.59 | BND | Vanguard Total Bond Sell-off Trend | PairCorr |
| 0.56 | INTF | iShares Edge MSCI | PairCorr |
| 0.56 | GLD | SPDR Gold Shares | PairCorr |
| 0.49 | VEA | Vanguard FTSE Developed | PairCorr |
| 0.32 | LEGR | First Trust Indxx | PairCorr |
The ability to find closely correlated positions to ProShares Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Bitcoin 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 ProShares Bitcoin - 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 ProShares Bitcoin Strategy to buy it.
The correlation of ProShares Bitcoin 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 ProShares Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Bitcoin 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 ProShares Bitcoin 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 ProShares Bitcoin Correlation, ProShares Bitcoin Volatility and ProShares Bitcoin Alpha and Beta module to complement your research on ProShares Bitcoin. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
ProShares Bitcoin 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.