Graniteshares Etf Trust Etf Market Value
| CONL Etf | USD 53.38 5.76 9.74% |
| Symbol | GraniteShares |
The market value of GraniteShares ETF Trust is measured differently than its book value, which is the value of GraniteShares that is recorded on the company's balance sheet. Investors also form their own opinion of GraniteShares ETF's value that differs from its market value or its book value, called intrinsic value, which is GraniteShares ETF'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 GraniteShares ETF's market value can be influenced by many factors that don't directly affect GraniteShares ETF'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 GraniteShares ETF's value and its price as these two are different measures arrived at by different means. Investors typically determine if GraniteShares ETF is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GraniteShares ETF'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.
GraniteShares ETF '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 GraniteShares ETF'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 GraniteShares ETF.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in GraniteShares ETF on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding GraniteShares ETF Trust or generate 0.0% return on investment in GraniteShares ETF over 30 days. GraniteShares ETF is related to or competes with GraniteShares ETF, Direxion Shares, Direxion Daily, Direxion Daily, and Direxion Daily. GraniteShares ETF Trust - GraniteShares 1.5x Long COIN Daily ETF is an exchange traded fund launched by GraniteShares In... More
GraniteShares ETF 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 GraniteShares ETF'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 GraniteShares ETF Trust upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 10.06 | |||
| Information Ratio | 0.116 | |||
| Maximum Drawdown | 83.09 | |||
| Value At Risk | (15.52) | |||
| Potential Upside | 19.81 |
GraniteShares ETF Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GraniteShares ETF's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GraniteShares ETF's standard deviation. In reality, there are many statistical measures that can use GraniteShares ETF historical prices to predict the future GraniteShares ETF's volatility.| Risk Adjusted Performance | 0.106 | |||
| Jensen Alpha | 0.3477 | |||
| Total Risk Alpha | (0.55) | |||
| Sortino Ratio | 0.1532 | |||
| Treynor Ratio | 0.1612 |
GraniteShares ETF Trust Backtested Returns
GraniteShares ETF is somewhat reliable given 3 months investment horizon. GraniteShares ETF Trust holds Efficiency (Sharpe) Ratio of 0.16, which attests that the entity had a 0.16% return per unit of standard deviation over the last 3 months. We were able to interpolate thirty different technical indicators, which can help you to evaluate if expected returns of 2.09% are justified by taking the suggested risk. Use GraniteShares ETF Trust market risk adjusted performance of 0.1712, and Risk Adjusted Performance of 0.106 to evaluate company specific risk that cannot be diversified away. The etf retains a Market Volatility (i.e., Beta) of 10.36, which attests to 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, GraniteShares ETF will likely underperform.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
GraniteShares ETF Trust has almost perfect reverse predictability. Overlapping area represents the amount of predictability between GraniteShares ETF time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 GraniteShares ETF Trust price movement. The serial correlation of -0.76 indicates that around 76.0% of current GraniteShares ETF price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 25.33 |
GraniteShares ETF Trust lagged returns against current returns
Autocorrelation, which is GraniteShares ETF 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 GraniteShares ETF's etf expected returns. We can calculate the autocorrelation of GraniteShares ETF returns to help us make a trade decision. For example, suppose you find that GraniteShares ETF 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 |
GraniteShares ETF 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 GraniteShares ETF etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GraniteShares ETF etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GraniteShares ETF etf over time.
Current vs Lagged Prices |
| Timeline |
GraniteShares ETF Lagged Returns
When evaluating GraniteShares ETF's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GraniteShares ETF etf have on its future price. GraniteShares ETF 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, GraniteShares ETF autocorrelation shows the relationship between GraniteShares ETF etf current value and its past values and can show if there is a momentum factor associated with investing in GraniteShares ETF Trust.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectCheck out GraniteShares ETF Correlation, GraniteShares ETF Volatility and GraniteShares ETF Alpha and Beta module to complement your research on GraniteShares ETF. For more information on how to buy GraniteShares Etf please use our How to buy in GraniteShares Etf guide.You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
GraniteShares ETF 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.