NewWave EUR (South Africa) Market Value
| NEWEUR Etf | 1,949 9.00 0.46% |
| Symbol | NewWave |
NewWave EUR '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 NewWave EUR'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 NewWave EUR.
| 12/25/2024 |
| 01/24/2025 |
If you would invest 0.00 in NewWave EUR on December 25, 2024 and sell it all today you would earn a total of 0.00 from holding NewWave EUR Currency or generate 0.0% return on investment in NewWave EUR over 30 days.
NewWave EUR 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 NewWave EUR'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 NewWave EUR Currency upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8297 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 2.61 | |||
| Value At Risk | (0.88) | |||
| Potential Upside | 1.04 |
NewWave EUR Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NewWave EUR's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NewWave EUR's standard deviation. In reality, there are many statistical measures that can use NewWave EUR historical prices to predict the future NewWave EUR's volatility.| Risk Adjusted Performance | 0.0205 | |||
| Jensen Alpha | 0.01 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NewWave EUR'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.
NewWave EUR Currency Backtested Returns
At this point, NewWave EUR is very steady. NewWave EUR Currency has Sharpe Ratio of 0.0406, which conveys that the entity had a 0.0406 % return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for NewWave EUR, which you can use to evaluate the volatility of the etf. Please verify NewWave EUR's Risk Adjusted Performance of 0.0205, downside deviation of 0.8297, and Mean Deviation of 0.2499 to check out if the risk estimate we provide is consistent with the expected return of 0.0182%. The etf secures a Beta (Market Risk) of -0.11, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NewWave EUR are expected to decrease at a much lower rate. During the bear market, NewWave EUR is likely to outperform the market.
Auto-correlation | 0.02 |
Virtually no predictability
NewWave EUR Currency has virtually no predictability. Overlapping area represents the amount of predictability between NewWave EUR time series from 25th of December 2024 to 9th of January 2025 and 9th of January 2025 to 24th 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 NewWave EUR Currency price movement. The serial correlation of 0.02 indicates that only 2.0% of current NewWave EUR price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 56.54 |
NewWave EUR Currency lagged returns against current returns
Autocorrelation, which is NewWave EUR 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 NewWave EUR's etf expected returns. We can calculate the autocorrelation of NewWave EUR returns to help us make a trade decision. For example, suppose you find that NewWave EUR 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 |
NewWave EUR 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 NewWave EUR etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NewWave EUR etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NewWave EUR etf over time.
Current vs Lagged Prices |
| Timeline |
NewWave EUR Lagged Returns
When evaluating NewWave EUR's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NewWave EUR etf have on its future price. NewWave EUR 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, NewWave EUR autocorrelation shows the relationship between NewWave EUR etf current value and its past values and can show if there is a momentum factor associated with investing in NewWave EUR Currency.
Regressed Prices |
| Timeline |