NewWave USD's market value is the price at which a share of NewWave USD trades on a public exchange. It measures the collective expectations of NewWave USD Currency investors about its performance. NewWave USD is trading at 1884.00 as of the 6th of January 2025, a 0.95 percent decrease since the beginning of the trading day. The etf's open price was 1902.0. With this module, you can estimate the performance of a buy and hold strategy of NewWave USD Currency and determine expected loss or profit from investing in NewWave USD over a given investment horizon. Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.
Symbol
NewWave
NewWave USD '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 USD'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 USD.
0.00
12/07/2024
No Change 0.00
0.0
In 31 days
01/06/2025
0.00
If you would invest 0.00 in NewWave USD on December 7, 2024 and sell it all today you would earn a total of 0.00 from holding NewWave USD Currency or generate 0.0% return on investment in NewWave USD over 30 days.
NewWave USD 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 USD'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 USD Currency upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for NewWave USD's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NewWave USD's standard deviation. In reality, there are many statistical measures that can use NewWave USD historical prices to predict the future NewWave USD's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NewWave USD'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 USD Currency Backtested Returns
At this point, NewWave USD is out of control. NewWave USD Currency has Sharpe Ratio of 0.16, which conveys that the entity had a 0.16% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for NewWave USD, which you can use to evaluate the volatility of the etf. Please verify NewWave USD's Downside Deviation of 0.6854, risk adjusted performance of 0.1546, and Mean Deviation of 0.5999 to check out if the risk estimate we provide is consistent with the expected return of 0.12%. The etf secures a Beta (Market Risk) of -0.19, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NewWave USD are expected to decrease at a much lower rate. During the bear market, NewWave USD is likely to outperform the market.
Auto-correlation
-0.09
Very weak reverse predictability
NewWave USD Currency has very weak reverse predictability. Overlapping area represents the amount of predictability between NewWave USD time series from 7th of December 2024 to 22nd of December 2024 and 22nd of December 2024 to 6th 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 USD Currency price movement. The serial correlation of -0.09 indicates that less than 9.0% of current NewWave USD price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.09
Spearman Rank Test
-0.1
Residual Average
0.0
Price Variance
119.23
NewWave USD Currency lagged returns against current returns
Autocorrelation, which is NewWave USD 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 USD's etf expected returns. We can calculate the autocorrelation of NewWave USD returns to help us make a trade decision. For example, suppose you find that NewWave USD 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 USD 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 USD etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NewWave USD etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NewWave USD etf over time.
Current vs Lagged Prices
Timeline
NewWave USD Lagged Returns
When evaluating NewWave USD's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NewWave USD etf have on its future price. NewWave USD 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 USD autocorrelation shows the relationship between NewWave USD etf current value and its past values and can show if there is a momentum factor associated with investing in NewWave USD Currency.
Regressed Prices
Timeline
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