Wisdomtree Efficient Gold Etf Market Value
| GDMN Etf | USD 39.69 0.25 0.63% |
| Symbol | WisdomTree |
The market value of WisdomTree Efficient Gold is measured differently than its book value, which is the value of WisdomTree that is recorded on the company's balance sheet. Investors also form their own opinion of WisdomTree Efficient's value that differs from its market value or its book value, called intrinsic value, which is WisdomTree Efficient'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 WisdomTree Efficient's market value can be influenced by many factors that don't directly affect WisdomTree Efficient'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 WisdomTree Efficient's value and its price as these two are different measures arrived at by different means. Investors typically determine if WisdomTree Efficient is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, WisdomTree Efficient'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.
WisdomTree Efficient '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 WisdomTree Efficient'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 WisdomTree Efficient.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in WisdomTree Efficient on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding WisdomTree Efficient Gold or generate 0.0% return on investment in WisdomTree Efficient over 90 days. WisdomTree Efficient is related to or competes with WisdomTree Efficient, WisdomTree Alternative, US Global, WisdomTree International, and IShares Gold. The fund invests, either directly or through a wholly-owned subsidiary, in a portfolio comprised of U.S More
WisdomTree Efficient 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 WisdomTree Efficient'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 WisdomTree Efficient Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.84 | |||
| Information Ratio | 0.2048 | |||
| Maximum Drawdown | 9.81 | |||
| Value At Risk | (4.21) | |||
| Potential Upside | 4.8 |
WisdomTree Efficient Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WisdomTree Efficient's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WisdomTree Efficient's standard deviation. In reality, there are many statistical measures that can use WisdomTree Efficient historical prices to predict the future WisdomTree Efficient's volatility.| Risk Adjusted Performance | 0.1515 | |||
| Jensen Alpha | 0.4328 | |||
| Total Risk Alpha | 0.7422 | |||
| Sortino Ratio | 0.186 | |||
| Treynor Ratio | 3.35 |
WisdomTree Efficient Gold Backtested Returns
WisdomTree Efficient appears to be very steady, given 3 months investment horizon. WisdomTree Efficient Gold shows Sharpe Ratio of 0.19, which attests that the etf had a 0.19 % return per unit of risk over the last 3 months. We have found thirty technical indicators for WisdomTree Efficient Gold, which you can use to evaluate the volatility of the etf. Please utilize WisdomTree Efficient's Downside Deviation of 2.84, market risk adjusted performance of 3.36, and Mean Deviation of 2.05 to validate if our risk estimates are consistent with your expectations. The entity maintains a market beta of 0.13, which attests to not very significant fluctuations relative to the market. As returns on the market increase, WisdomTree Efficient's returns are expected to increase less than the market. However, during the bear market, the loss of holding WisdomTree Efficient is expected to be smaller as well.
Auto-correlation | 0.18 |
Very weak predictability
WisdomTree Efficient Gold has very weak predictability. Overlapping area represents the amount of predictability between WisdomTree Efficient time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th 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 WisdomTree Efficient Gold price movement. The serial correlation of 0.18 indicates that over 18.0% of current WisdomTree Efficient price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 1.67 |
WisdomTree Efficient Gold lagged returns against current returns
Autocorrelation, which is WisdomTree Efficient 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 WisdomTree Efficient's etf expected returns. We can calculate the autocorrelation of WisdomTree Efficient returns to help us make a trade decision. For example, suppose you find that WisdomTree Efficient 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 |
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WisdomTree Efficient 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 WisdomTree Efficient etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WisdomTree Efficient etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WisdomTree Efficient etf over time.
Current vs Lagged Prices |
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WisdomTree Efficient Lagged Returns
When evaluating WisdomTree Efficient's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WisdomTree Efficient etf have on its future price. WisdomTree Efficient 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, WisdomTree Efficient autocorrelation shows the relationship between WisdomTree Efficient etf current value and its past values and can show if there is a momentum factor associated with investing in WisdomTree Efficient Gold.
Regressed Prices |
| Timeline |
Pair Trading with WisdomTree Efficient
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 WisdomTree Efficient 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 WisdomTree Efficient will appreciate offsetting losses from the drop in the long position's value.Moving together with WisdomTree Etf
| 0.99 | GLD | SPDR Gold Shares | PairCorr |
| 0.99 | IAU | iShares Gold Trust | PairCorr |
| 0.94 | SLV | iShares Silver Trust Sell-off Trend | PairCorr |
| 0.99 | GLDM | SPDR Gold MiniShares | PairCorr |
| 0.99 | SGOL | abrdn Physical Gold | PairCorr |
The ability to find closely correlated positions to WisdomTree Efficient could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WisdomTree Efficient 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 WisdomTree Efficient - 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 WisdomTree Efficient Gold to buy it.
The correlation of WisdomTree Efficient 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 WisdomTree Efficient moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Efficient Gold 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 WisdomTree Efficient 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 WisdomTree Efficient Correlation, WisdomTree Efficient Volatility and WisdomTree Efficient Alpha and Beta module to complement your research on WisdomTree Efficient. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
WisdomTree Efficient 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.