Spdr Gold Minishares Etf Market Value
| GLDM Etf | USD 57.17 0.86 1.48% |
| Symbol | SPDR |
The market value of SPDR Gold MiniShares is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR Gold's value that differs from its market value or its book value, called intrinsic value, which is SPDR Gold'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 SPDR Gold's market value can be influenced by many factors that don't directly affect SPDR Gold'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 SPDR Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR Gold'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.
SPDR Gold '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 SPDR Gold'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 SPDR Gold.
| 02/28/2023 |
| 02/17/2025 |
If you would invest 0.00 in SPDR Gold on February 28, 2023 and sell it all today you would earn a total of 0.00 from holding SPDR Gold MiniShares or generate 0.0% return on investment in SPDR Gold over 720 days. SPDR Gold is related to or competes with MicroSectors Gold, Franklin Responsibly, ProShares Ultra, GraniteShares Gold, Invesco DB, DB Gold, and DB Gold. The Shares are designed for investors who want a cost-effective and convenient way to invest in gold More
SPDR Gold 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 SPDR Gold'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 SPDR Gold MiniShares upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.17 | |||
| Information Ratio | 0.1033 | |||
| Maximum Drawdown | 4.84 | |||
| Value At Risk | (1.81) | |||
| Potential Upside | 1.51 |
SPDR Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR Gold's standard deviation. In reality, there are many statistical measures that can use SPDR Gold historical prices to predict the future SPDR Gold's volatility.| Risk Adjusted Performance | 0.084 | |||
| Jensen Alpha | 0.1035 | |||
| Total Risk Alpha | 0.1021 | |||
| Sortino Ratio | 0.0873 | |||
| Treynor Ratio | 0.7216 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR Gold'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.
SPDR Gold MiniShares Backtested Returns
As of now, SPDR Etf is very steady. SPDR Gold MiniShares owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.17, which indicates the etf had a 0.17 % return per unit of volatility over the last 3 months. We have found thirty technical indicators for SPDR Gold MiniShares, which you can use to evaluate the volatility of the etf. Please validate SPDR Gold's risk adjusted performance of 0.084, and Coefficient Of Variation of 873.46 to confirm if the risk estimate we provide is consistent with the expected return of 0.15%. The entity has a beta of 0.14, which indicates not very significant fluctuations relative to the market. As returns on the market increase, SPDR Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding SPDR Gold is expected to be smaller as well.
Auto-correlation | 0.36 |
Below average predictability
SPDR Gold MiniShares has below average predictability. Overlapping area represents the amount of predictability between SPDR Gold time series from 28th of February 2023 to 23rd of February 2024 and 23rd of February 2024 to 17th of February 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 SPDR Gold MiniShares price movement. The serial correlation of 0.36 indicates that just about 36.0% of current SPDR Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 15.97 |
SPDR Gold MiniShares lagged returns against current returns
Autocorrelation, which is SPDR Gold 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 SPDR Gold's etf expected returns. We can calculate the autocorrelation of SPDR Gold returns to help us make a trade decision. For example, suppose you find that SPDR Gold 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 |
SPDR Gold 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 SPDR Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR Gold etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR Gold Lagged Returns
When evaluating SPDR Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR Gold etf have on its future price. SPDR Gold 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, SPDR Gold autocorrelation shows the relationship between SPDR Gold etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR Gold MiniShares.
Regressed Prices |
| Timeline |
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