Fidelity Advantage Ether Etf Market Value
| FETH Etf | 35.04 1.05 3.09% |
| Symbol | Fidelity |
The market value of Fidelity Advantage Ether is measured differently than its book value, which is the value of Fidelity that is recorded on the company's balance sheet. Investors also form their own opinion of Fidelity Advantage's value that differs from its market value or its book value, called intrinsic value, which is Fidelity Advantage'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 Fidelity Advantage's market value can be influenced by many factors that don't directly affect Fidelity Advantage'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 Fidelity Advantage's value and its price as these two are different measures arrived at by different means. Investors typically determine if Fidelity Advantage is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fidelity Advantage'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.
Fidelity Advantage '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 Fidelity Advantage'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 Fidelity Advantage.
| 11/26/2024 |
| 12/26/2024 |
If you would invest 0.00 in Fidelity Advantage on November 26, 2024 and sell it all today you would earn a total of 0.00 from holding Fidelity Advantage Ether or generate 0.0% return on investment in Fidelity Advantage over 30 days. Fidelity Advantage is related to or competes with Simplify Equity, VanEck Digital, and First Trust. Fidelity Advantage is entity of United States More
Fidelity Advantage 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 Fidelity Advantage'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 Fidelity Advantage Ether upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.57 | |||
| Information Ratio | 0.1035 | |||
| Maximum Drawdown | 22.94 | |||
| Value At Risk | (5.57) | |||
| Potential Upside | 9.31 |
Fidelity Advantage Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fidelity Advantage's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fidelity Advantage's standard deviation. In reality, there are many statistical measures that can use Fidelity Advantage historical prices to predict the future Fidelity Advantage's volatility.| Risk Adjusted Performance | 0.099 | |||
| Jensen Alpha | 0.3967 | |||
| Total Risk Alpha | 0.3018 | |||
| Sortino Ratio | 0.1291 | |||
| Treynor Ratio | 0.1748 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fidelity Advantage'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.
Fidelity Advantage Ether Backtested Returns
Fidelity Advantage appears to be not too volatile, given 3 months investment horizon. Fidelity Advantage Ether secures Sharpe Ratio (or Efficiency) of 0.0933, which denotes the etf had a 0.0933% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fidelity Advantage Ether, which you can use to evaluate the volatility of the entity. Please utilize Fidelity Advantage's Coefficient Of Variation of 880.56, mean deviation of 3.35, and Downside Deviation of 3.57 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 2.83, which means 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, Fidelity Advantage will likely underperform.
Auto-correlation | -0.62 |
Very good reverse predictability
Fidelity Advantage Ether has very good reverse predictability. Overlapping area represents the amount of predictability between Fidelity Advantage time series from 26th of November 2024 to 11th of December 2024 and 11th of December 2024 to 26th 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 Fidelity Advantage Ether price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current Fidelity Advantage price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 5.65 |
Fidelity Advantage Ether lagged returns against current returns
Autocorrelation, which is Fidelity Advantage 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 Fidelity Advantage's etf expected returns. We can calculate the autocorrelation of Fidelity Advantage returns to help us make a trade decision. For example, suppose you find that Fidelity Advantage 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 |
Fidelity Advantage 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 Fidelity Advantage etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fidelity Advantage etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fidelity Advantage etf over time.
Current vs Lagged Prices |
| Timeline |
Fidelity Advantage Lagged Returns
When evaluating Fidelity Advantage's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fidelity Advantage etf have on its future price. Fidelity Advantage 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, Fidelity Advantage autocorrelation shows the relationship between Fidelity Advantage etf current value and its past values and can show if there is a momentum factor associated with investing in Fidelity Advantage Ether.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
When determining whether Fidelity Advantage Ether offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Fidelity Advantage's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Fidelity Advantage Ether Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Fidelity Advantage Ether Etf:Check out Fidelity Advantage Correlation, Fidelity Advantage Volatility and Fidelity Advantage Alpha and Beta module to complement your research on Fidelity Advantage. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Fidelity Advantage 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.