Proshares Sp Global Etf Market Value
| ION Etf | 25.74 0.25 0.98% |
| Symbol | Proshares |
The market value of Proshares SP Global is measured differently than its book value, which is the value of Proshares that is recorded on the company's balance sheet. Investors also form their own opinion of Proshares' value that differs from its market value or its book value, called intrinsic value, which is Proshares' 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 Proshares' market value can be influenced by many factors that don't directly affect Proshares' 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 Proshares' value and its price as these two are different measures arrived at by different means. Investors typically determine if Proshares is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Proshares' 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.
Proshares '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 Proshares' 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 Proshares.
| 12/08/2024 |
| 01/07/2025 |
If you would invest 0.00 in Proshares on December 8, 2024 and sell it all today you would earn a total of 0.00 from holding Proshares SP Global or generate 0.0% return on investment in Proshares over 30 days. Proshares is related to or competes with Principal Small, Consolidated Water, ESCO Technologies, Watts Water, and Franklin Genomic. Proshares is entity of United States. It is traded as Etf on NYSE ARCA exchange. More
Proshares 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 Proshares' 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 Proshares SP Global upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 11.01 | |||
| Value At Risk | (3.13) | |||
| Potential Upside | 3.32 |
Proshares Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Proshares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Proshares' standard deviation. In reality, there are many statistical measures that can use Proshares historical prices to predict the future Proshares' volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | 4.58 |
Proshares SP Global Backtested Returns
Proshares SP Global maintains Sharpe Ratio (i.e., Efficiency) of -0.14, which implies the entity had a -0.14% return per unit of risk over the last 3 months. Proshares SP Global exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Proshares' Risk Adjusted Performance of (0.09), variance of 3.59, and Coefficient Of Variation of (809.31) to confirm the risk estimate we provide. The etf holds a Beta of -0.0533, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Proshares are expected to decrease at a much lower rate. During the bear market, Proshares is likely to outperform the market.
Auto-correlation | 0.54 |
Modest predictability
Proshares SP Global has modest predictability. Overlapping area represents the amount of predictability between Proshares time series from 8th of December 2024 to 23rd of December 2024 and 23rd of December 2024 to 7th of January 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 Proshares SP Global price movement. The serial correlation of 0.54 indicates that about 54.0% of current Proshares price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Proshares SP Global lagged returns against current returns
Autocorrelation, which is Proshares 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 Proshares' etf expected returns. We can calculate the autocorrelation of Proshares returns to help us make a trade decision. For example, suppose you find that Proshares 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 |
Proshares 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 Proshares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Proshares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Proshares etf over time.
Current vs Lagged Prices |
| Timeline |
Proshares Lagged Returns
When evaluating Proshares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Proshares etf have on its future price. Proshares 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, Proshares autocorrelation shows the relationship between Proshares etf current value and its past values and can show if there is a momentum factor associated with investing in Proshares SP Global.
Regressed Prices |
| Timeline |
Pair Trading with Proshares
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 Proshares 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 Proshares will appreciate offsetting losses from the drop in the long position's value.Moving together with Proshares Etf
| 0.78 | EV | Mast Global Battery | PairCorr |
| 0.86 | XLB | Materials Select Sector | PairCorr |
| 0.8 | VAW | Vanguard Materials Index | PairCorr |
| 0.61 | XME | SPDR SP Metals | PairCorr |
Moving against Proshares Etf
The ability to find closely correlated positions to Proshares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Proshares 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 Proshares - 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 Proshares SP Global to buy it.
The correlation of Proshares 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 Proshares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Proshares SP Global 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 Proshares 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 Proshares Correlation, Proshares Volatility and Proshares Alpha and Beta module to complement your research on Proshares. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Proshares 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.