Clearshares Ultra Short Maturity Etf Market Value
| OPER Etf | USD 100.30 0.05 0.05% |
| Symbol | ClearShares |
The market value of ClearShares Ultra Short is measured differently than its book value, which is the value of ClearShares that is recorded on the company's balance sheet. Investors also form their own opinion of ClearShares Ultra's value that differs from its market value or its book value, called intrinsic value, which is ClearShares Ultra'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 ClearShares Ultra's market value can be influenced by many factors that don't directly affect ClearShares Ultra'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 ClearShares Ultra's value and its price as these two are different measures arrived at by different means. Investors typically determine if ClearShares Ultra is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ClearShares Ultra'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.
ClearShares Ultra '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 ClearShares Ultra'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 ClearShares Ultra.
| 12/19/2024 |
| 01/18/2025 |
If you would invest 0.00 in ClearShares Ultra on December 19, 2024 and sell it all today you would earn a total of 0.00 from holding ClearShares Ultra Short Maturity or generate 0.0% return on investment in ClearShares Ultra over 30 days. ClearShares Ultra is related to or competes with Valued Advisers, Columbia Diversified, Principal Exchange, Doubleline Etf, Virtus Newfleet, Vident Core, and PIMCO Enhanced. The fund is an actively-managed exchange-traded fund that seeks to achieve its investment objective primarily by investi... More
ClearShares Ultra 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 ClearShares Ultra'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 ClearShares Ultra Short Maturity upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.68) | |||
| Maximum Drawdown | 0.0704 | |||
| Potential Upside | 0.0404 |
ClearShares Ultra Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ClearShares Ultra's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ClearShares Ultra's standard deviation. In reality, there are many statistical measures that can use ClearShares Ultra historical prices to predict the future ClearShares Ultra's volatility.| Risk Adjusted Performance | 0.4909 | |||
| Jensen Alpha | 0.0091 | |||
| Total Risk Alpha | 0.0086 | |||
| Treynor Ratio | (3.33) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ClearShares Ultra'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.
ClearShares Ultra Short Backtested Returns
Currently, ClearShares Ultra Short Maturity is very steady. ClearShares Ultra Short secures Sharpe Ratio (or Efficiency) of 1.2, which signifies that the etf had a 1.2% return per unit of standard deviation over the last 3 months. We have found twenty-two technical indicators for ClearShares Ultra Short Maturity, which you can use to evaluate the volatility of the entity. Please confirm ClearShares Ultra's mean deviation of 0.0127, and Risk Adjusted Performance of 0.4909 to double-check if the risk estimate we provide is consistent with the expected return of 0.0189%. The etf shows a Beta (market volatility) of -0.0027, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning ClearShares Ultra are expected to decrease at a much lower rate. During the bear market, ClearShares Ultra is likely to outperform the market.
Auto-correlation | 0.98 |
Excellent predictability
ClearShares Ultra Short Maturity has excellent predictability. Overlapping area represents the amount of predictability between ClearShares Ultra time series from 19th of December 2024 to 3rd of January 2025 and 3rd of January 2025 to 18th 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 ClearShares Ultra Short price movement. The serial correlation of 0.98 indicates that 98.0% of current ClearShares Ultra price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.98 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
ClearShares Ultra Short lagged returns against current returns
Autocorrelation, which is ClearShares Ultra 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 ClearShares Ultra's etf expected returns. We can calculate the autocorrelation of ClearShares Ultra returns to help us make a trade decision. For example, suppose you find that ClearShares Ultra 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 |
ClearShares Ultra 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 ClearShares Ultra etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ClearShares Ultra etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ClearShares Ultra etf over time.
Current vs Lagged Prices |
| Timeline |
ClearShares Ultra Lagged Returns
When evaluating ClearShares Ultra's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ClearShares Ultra etf have on its future price. ClearShares Ultra 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, ClearShares Ultra autocorrelation shows the relationship between ClearShares Ultra etf current value and its past values and can show if there is a momentum factor associated with investing in ClearShares Ultra Short Maturity.
Regressed Prices |
| Timeline |
Pair Trading with ClearShares Ultra
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 ClearShares Ultra 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 ClearShares Ultra will appreciate offsetting losses from the drop in the long position's value.Moving together with ClearShares Etf
| 1.0 | BIL | SPDR Bloomberg 1 | PairCorr |
| 1.0 | SHV | iShares Short Treasury | PairCorr |
| 0.99 | JPST | JPMorgan Ultra Short | PairCorr |
| 1.0 | USFR | WisdomTree Floating Rate | PairCorr |
| 1.0 | ICSH | iShares Ultra Short | PairCorr |
Moving against ClearShares Etf
| 0.9 | FNGD | MicroSectors FANG Index | PairCorr |
| 0.77 | EMC | Global X Funds | PairCorr |
| 0.56 | VXX | iPath Series B | PairCorr |
| 0.45 | INTL | Main International ETF | PairCorr |
The ability to find closely correlated positions to ClearShares Ultra could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ClearShares Ultra 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 ClearShares Ultra - 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 ClearShares Ultra Short Maturity to buy it.
The correlation of ClearShares Ultra 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 ClearShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ClearShares Ultra Short 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 ClearShares Ultra 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 ClearShares Ultra Correlation, ClearShares Ultra Volatility and ClearShares Ultra Alpha and Beta module to complement your research on ClearShares Ultra. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
ClearShares Ultra 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.