Procure Space Etf Market Value
| UFO Etf | USD 23.21 0.17 0.73% |
| Symbol | Procure |
The market value of Procure Space ETF is measured differently than its book value, which is the value of Procure that is recorded on the company's balance sheet. Investors also form their own opinion of Procure Space's value that differs from its market value or its book value, called intrinsic value, which is Procure Space'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 Procure Space's market value can be influenced by many factors that don't directly affect Procure Space'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 Procure Space's value and its price as these two are different measures arrived at by different means. Investors typically determine if Procure Space is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Procure Space'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.
Procure Space '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 Procure Space'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 Procure Space.
| 11/17/2024 |
| 12/17/2024 |
If you would invest 0.00 in Procure Space on November 17, 2024 and sell it all today you would earn a total of 0.00 from holding Procure Space ETF or generate 0.0% return on investment in Procure Space over 30 days. Procure Space is related to or competes with SPDR SP, ARK Space, Iridium Communications, and 3D Printing. The fund invests, under normal circumstances, at least 80 percent of its net assets in companies of the underlying index... More
Procure Space 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 Procure Space'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 Procure Space ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.19 | |||
| Information Ratio | 0.1699 | |||
| Maximum Drawdown | 6.43 | |||
| Value At Risk | (1.71) | |||
| Potential Upside | 3.51 |
Procure Space Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Procure Space's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Procure Space's standard deviation. In reality, there are many statistical measures that can use Procure Space historical prices to predict the future Procure Space's volatility.| Risk Adjusted Performance | 0.1672 | |||
| Jensen Alpha | 0.2444 | |||
| Total Risk Alpha | 0.1785 | |||
| Sortino Ratio | 0.2255 | |||
| Treynor Ratio | 0.2626 |
Procure Space ETF Backtested Returns
Procure Space appears to be very steady, given 3 months investment horizon. Procure Space ETF maintains Sharpe Ratio (i.e., Efficiency) of 0.24, which implies the entity had a 0.24% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Procure Space ETF, which you can use to evaluate the volatility of the etf. Please evaluate Procure Space's Coefficient Of Variation of 446.31, semi deviation of 0.8493, and Risk Adjusted Performance of 0.1672 to confirm if our risk estimates are consistent with your expectations. The etf holds a Beta of 1.31, which implies 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, Procure Space will likely underperform.
Auto-correlation | -0.69 |
Very good reverse predictability
Procure Space ETF has very good reverse predictability. Overlapping area represents the amount of predictability between Procure Space time series from 17th of November 2024 to 2nd of December 2024 and 2nd of December 2024 to 17th 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 Procure Space ETF price movement. The serial correlation of -0.69 indicates that around 69.0% of current Procure Space price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Procure Space ETF lagged returns against current returns
Autocorrelation, which is Procure Space 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 Procure Space's etf expected returns. We can calculate the autocorrelation of Procure Space returns to help us make a trade decision. For example, suppose you find that Procure Space 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 |
Procure Space 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 Procure Space etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Procure Space etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Procure Space etf over time.
Current vs Lagged Prices |
| Timeline |
Procure Space Lagged Returns
When evaluating Procure Space's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Procure Space etf have on its future price. Procure Space 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, Procure Space autocorrelation shows the relationship between Procure Space etf current value and its past values and can show if there is a momentum factor associated with investing in Procure Space ETF.
Regressed Prices |
| Timeline |
Pair Trading with Procure Space
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 Procure Space 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 Procure Space will appreciate offsetting losses from the drop in the long position's value.Moving together with Procure Etf
| 0.78 | XLI | Industrial Select Sector | PairCorr |
| 0.93 | DRVN | Driven Brands Holdings | PairCorr |
| 0.84 | VIS | Vanguard Industrials | PairCorr |
| 0.86 | JETS | US Global Jets | PairCorr |
The ability to find closely correlated positions to Procure Space could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Procure Space 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 Procure Space - 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 Procure Space ETF to buy it.
The correlation of Procure Space 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 Procure Space moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Procure Space ETF 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 Procure Space 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 Procure Space Correlation, Procure Space Volatility and Procure Space Alpha and Beta module to complement your research on Procure Space. You can also try the CEOs Directory module to screen CEOs from public companies around the world.
Procure Space 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.