New America High Etf Market Value
| HYB Etf | USD 8.33 0.03 0.36% |
| Symbol | New |
The market value of New America High is measured differently than its book value, which is the value of New that is recorded on the company's balance sheet. Investors also form their own opinion of New America's value that differs from its market value or its book value, called intrinsic value, which is New America'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 New America's market value can be influenced by many factors that don't directly affect New America'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 New America's value and its price as these two are different measures arrived at by different means. Investors typically determine if New America is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, New America'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.
New America '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 New America'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 New America.
| 12/09/2023 |
| 12/03/2024 |
If you would invest 0.00 in New America on December 9, 2023 and sell it all today you would earn a total of 0.00 from holding New America High or generate 0.0% return on investment in New America over 360 days. New America is related to or competes with Advent Claymore, Blackstone Gso, Western Asset, Pioneer Floating, Gabelli Equity, Pioneer Municipal, and Pgim High. The New America High Income Fund Inc. is a closed-ended fixed income mutual fund launched and managed by T More
New America 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 New America'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 New America High upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5429 | |||
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 2.32 | |||
| Value At Risk | (0.74) | |||
| Potential Upside | 0.7299 |
New America Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New America's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New America's standard deviation. In reality, there are many statistical measures that can use New America historical prices to predict the future New America's volatility.| Risk Adjusted Performance | 0.0343 | |||
| Jensen Alpha | 0.0205 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.18) | |||
| Treynor Ratio | (0.31) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of New America'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.
New America High Backtested Returns
At this point, New America is very steady. New America High has Sharpe Ratio of 0.0737, which conveys that the entity had a 0.0737% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for New America, which you can use to evaluate the volatility of the etf. Please verify New America's Risk Adjusted Performance of 0.0343, downside deviation of 0.5429, and Mean Deviation of 0.3641 to check out if the risk estimate we provide is consistent with the expected return of 0.0353%. The etf secures a Beta (Market Risk) of -0.0481, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning New America are expected to decrease at a much lower rate. During the bear market, New America is likely to outperform the market.
Auto-correlation | 0.63 |
Good predictability
New America High has good predictability. Overlapping area represents the amount of predictability between New America time series from 9th of December 2023 to 6th of June 2024 and 6th of June 2024 to 3rd 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 New America High price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current New America price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.21 |
New America High lagged returns against current returns
Autocorrelation, which is New America 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 New America's etf expected returns. We can calculate the autocorrelation of New America returns to help us make a trade decision. For example, suppose you find that New America 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 |
New America 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 New America etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New America etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New America etf over time.
Current vs Lagged Prices |
| Timeline |
New America Lagged Returns
When evaluating New America's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New America etf have on its future price. New America 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, New America autocorrelation shows the relationship between New America etf current value and its past values and can show if there is a momentum factor associated with investing in New America High.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in New Etf
New America financial ratios help investors to determine whether New Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in New with respect to the benefits of owning New America security.