Graniteshares 2x Long Etf Market Value
| PTIR Etf | 141.32 20.11 16.59% |
| Symbol | GraniteShares |
The market value of GraniteShares 2x Long is measured differently than its book value, which is the value of GraniteShares that is recorded on the company's balance sheet. Investors also form their own opinion of GraniteShares' value that differs from its market value or its book value, called intrinsic value, which is GraniteShares' 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 GraniteShares' market value can be influenced by many factors that don't directly affect GraniteShares' 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 GraniteShares' value and its price as these two are different measures arrived at by different means. Investors typically determine if GraniteShares is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GraniteShares' 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.
GraniteShares '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 GraniteShares' 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 GraniteShares.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in GraniteShares on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding GraniteShares 2x Long or generate 0.0% return on investment in GraniteShares over 90 days. GraniteShares is related to or competes with Freedom Day, IShares MSCI, Tidal Trust, IShares Dividend, SmartETFs Dividend, Listed Funds, and Martin Currie. GraniteShares is entity of United States More
GraniteShares 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 GraniteShares' 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 GraniteShares 2x Long upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 10.05 | |||
| Information Ratio | 0.0653 | |||
| Maximum Drawdown | 68.78 | |||
| Value At Risk | (19.98) | |||
| Potential Upside | 16.59 |
GraniteShares Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GraniteShares' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GraniteShares' standard deviation. In reality, there are many statistical measures that can use GraniteShares historical prices to predict the future GraniteShares' volatility.| Risk Adjusted Performance | 0.0582 | |||
| Jensen Alpha | 1.1 | |||
| Total Risk Alpha | 1.98 | |||
| Sortino Ratio | 0.0711 | |||
| Treynor Ratio | 0.1331 |
GraniteShares 2x Long Backtested Returns
GraniteShares appears to be very steady, given 3 months investment horizon. GraniteShares 2x Long holds Efficiency (Sharpe) Ratio of 0.0611, which attests that the entity had a 0.0611 % return per unit of standard deviation over the last 3 months. By evaluating GraniteShares' technical indicators, you can evaluate if the expected return of 0.69% is justified by implied risk. Please utilize GraniteShares' risk adjusted performance of 0.0582, and Market Risk Adjusted Performance of 0.1431 to validate if our risk estimates are consistent with your expectations. The etf retains a Market Volatility (i.e., Beta) of 4.55, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, GraniteShares will likely underperform.
Auto-correlation | 0.36 |
Below average predictability
GraniteShares 2x Long has below average predictability. Overlapping area represents the amount of predictability between GraniteShares time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 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 GraniteShares 2x Long price movement. The serial correlation of 0.36 indicates that just about 36.0% of current GraniteShares price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 4142.72 |
GraniteShares 2x Long lagged returns against current returns
Autocorrelation, which is GraniteShares 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 GraniteShares' etf expected returns. We can calculate the autocorrelation of GraniteShares returns to help us make a trade decision. For example, suppose you find that GraniteShares 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 |
GraniteShares 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 GraniteShares etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GraniteShares etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GraniteShares etf over time.
Current vs Lagged Prices |
| Timeline |
GraniteShares Lagged Returns
When evaluating GraniteShares' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GraniteShares etf have on its future price. GraniteShares 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, GraniteShares autocorrelation shows the relationship between GraniteShares etf current value and its past values and can show if there is a momentum factor associated with investing in GraniteShares 2x Long.
Regressed Prices |
| Timeline |
Pair Trading with GraniteShares
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 GraniteShares 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 GraniteShares will appreciate offsetting losses from the drop in the long position's value.Moving against GraniteShares Etf
The ability to find closely correlated positions to GraniteShares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GraniteShares 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 GraniteShares - 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 GraniteShares 2x Long to buy it.
The correlation of GraniteShares 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 GraniteShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares 2x Long 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 GraniteShares 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 GraniteShares Correlation, GraniteShares Volatility and GraniteShares Alpha and Beta module to complement your research on GraniteShares. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
GraniteShares 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.