Ishares Transportation Average Etf Market Value
| IYT Etf | USD 68.23 0.31 0.45% |
| Symbol | IShares |
The market value of iShares Transportation is measured differently than its book value, which is the value of IShares that is recorded on the company's balance sheet. Investors also form their own opinion of IShares Transportation's value that differs from its market value or its book value, called intrinsic value, which is IShares Transportation'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 IShares Transportation's market value can be influenced by many factors that don't directly affect IShares Transportation'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 IShares Transportation's value and its price as these two are different measures arrived at by different means. Investors typically determine if IShares Transportation is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, IShares Transportation'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.
IShares Transportation '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 IShares Transportation'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 IShares Transportation.
| 07/01/2024 |
| 12/28/2024 |
If you would invest 0.00 in IShares Transportation on July 1, 2024 and sell it all today you would earn a total of 0.00 from holding iShares Transportation Average or generate 0.0% return on investment in IShares Transportation over 180 days. IShares Transportation is related to or competes with Invesco DWA, Invesco DWA, Invesco DWA, Invesco DWA, and Invesco DWA. The fund generally will invest at least 80 percent of its assets in the component securities of its underlying index and... More
IShares Transportation 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 IShares Transportation'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 iShares Transportation Average upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.11 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 7.43 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 1.73 |
IShares Transportation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares Transportation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares Transportation's standard deviation. In reality, there are many statistical measures that can use IShares Transportation historical prices to predict the future IShares Transportation's volatility.| Risk Adjusted Performance | 0.0104 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0038 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of IShares Transportation'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.
iShares Transportation Backtested Returns
iShares Transportation holds Efficiency (Sharpe) Ratio of -0.0035, which attests that the entity had a -0.0035% return per unit of risk over the last 3 months. iShares Transportation exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out IShares Transportation's Downside Deviation of 1.11, risk adjusted performance of 0.0104, and Market Risk Adjusted Performance of 0.0138 to validate the risk estimate we provide. The etf retains a Market Volatility (i.e., Beta) of 0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, IShares Transportation's returns are expected to increase less than the market. However, during the bear market, the loss of holding IShares Transportation is expected to be smaller as well.
Auto-correlation | -0.02 |
Very weak reverse predictability
iShares Transportation Average has very weak reverse predictability. Overlapping area represents the amount of predictability between IShares Transportation time series from 1st of July 2024 to 29th of September 2024 and 29th of September 2024 to 28th 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 iShares Transportation price movement. The serial correlation of -0.02 indicates that only 2.0% of current IShares Transportation price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 4.95 |
iShares Transportation lagged returns against current returns
Autocorrelation, which is IShares Transportation 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 IShares Transportation's etf expected returns. We can calculate the autocorrelation of IShares Transportation returns to help us make a trade decision. For example, suppose you find that IShares Transportation 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 |
IShares Transportation 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 IShares Transportation etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares Transportation etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares Transportation etf over time.
Current vs Lagged Prices |
| Timeline |
IShares Transportation Lagged Returns
When evaluating IShares Transportation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares Transportation etf have on its future price. IShares Transportation 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, IShares Transportation autocorrelation shows the relationship between IShares Transportation etf current value and its past values and can show if there is a momentum factor associated with investing in iShares Transportation Average.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Check out IShares Transportation Correlation, IShares Transportation Volatility and IShares Transportation Alpha and Beta module to complement your research on IShares Transportation. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.
IShares Transportation 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.