Sprott Junior Uranium Etf Market Value
| URNJ Etf | 23.45 0.34 1.47% |
| Symbol | Sprott |
The market value of Sprott Junior Uranium is measured differently than its book value, which is the value of Sprott that is recorded on the company's balance sheet. Investors also form their own opinion of Sprott Junior's value that differs from its market value or its book value, called intrinsic value, which is Sprott Junior'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 Sprott Junior's market value can be influenced by many factors that don't directly affect Sprott Junior'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 Sprott Junior's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sprott Junior is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sprott Junior'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.
Sprott Junior '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 Sprott Junior'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 Sprott Junior.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Sprott Junior on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Sprott Junior Uranium or generate 0.0% return on investment in Sprott Junior over 30 days. Sprott Junior is related to or competes with Mast Global, Materials Select, Vanguard Materials, SPDR SP, First Trust, and First Trust. Sprott Junior is entity of United States More
Sprott Junior 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 Sprott Junior'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 Sprott Junior Uranium upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.99 | |||
| Information Ratio | 0.0524 | |||
| Maximum Drawdown | 13.15 | |||
| Value At Risk | (4.16) | |||
| Potential Upside | 6.96 |
Sprott Junior Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sprott Junior's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sprott Junior's standard deviation. In reality, there are many statistical measures that can use Sprott Junior historical prices to predict the future Sprott Junior's volatility.| Risk Adjusted Performance | 0.0799 | |||
| Jensen Alpha | 0.1602 | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | 0.0574 | |||
| Treynor Ratio | 0.2746 |
Sprott Junior Uranium Backtested Returns
Sprott Junior appears to be not too volatile, given 3 months investment horizon. Sprott Junior Uranium owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.16, which indicates the etf had a 0.16% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Sprott Junior Uranium, which you can use to evaluate the volatility of the etf. Please review Sprott Junior's Semi Deviation of 2.76, risk adjusted performance of 0.0799, and Coefficient Of Variation of 1058.9 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 1.09, which indicates a somewhat significant risk relative to the market. Sprott Junior returns are very sensitive to returns on the market. As the market goes up or down, Sprott Junior is expected to follow.
Auto-correlation | -0.18 |
Insignificant reverse predictability
Sprott Junior Uranium has insignificant reverse predictability. Overlapping area represents the amount of predictability between Sprott Junior time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 Sprott Junior Uranium price movement. The serial correlation of -0.18 indicates that over 18.0% of current Sprott Junior price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.18 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.44 |
Sprott Junior Uranium lagged returns against current returns
Autocorrelation, which is Sprott Junior 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 Sprott Junior's etf expected returns. We can calculate the autocorrelation of Sprott Junior returns to help us make a trade decision. For example, suppose you find that Sprott Junior 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 |
Sprott Junior 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 Sprott Junior etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sprott Junior etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sprott Junior etf over time.
Current vs Lagged Prices |
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Sprott Junior Lagged Returns
When evaluating Sprott Junior's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sprott Junior etf have on its future price. Sprott Junior 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, Sprott Junior autocorrelation shows the relationship between Sprott Junior etf current value and its past values and can show if there is a momentum factor associated with investing in Sprott Junior Uranium.
Regressed Prices |
| Timeline |
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Sprott Junior 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.