Sprott Uranium Miners Etf Market Value
| URNM Etf | USD 42.05 1.25 2.89% |
| Symbol | Sprott |
The market value of Sprott Uranium Miners 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 Uranium's value that differs from its market value or its book value, called intrinsic value, which is Sprott Uranium'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 Uranium's market value can be influenced by many factors that don't directly affect Sprott Uranium'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 Uranium's value and its price as these two are different measures arrived at by different means. Investors typically determine if Sprott Uranium is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Sprott Uranium'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 Uranium '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 Uranium'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 Uranium.
| 10/23/2023 |
| 12/16/2024 |
If you would invest 0.00 in Sprott Uranium on October 23, 2023 and sell it all today you would earn a total of 0.00 from holding Sprott Uranium Miners or generate 0.0% return on investment in Sprott Uranium over 420 days. Sprott Uranium is related to or competes with Global X, Sprott Physical, Energy Fuels, and NexGen Energy. The fund will normally invest at least 80 percent of its total assets in securities of the index More
Sprott Uranium 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 Uranium'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 Uranium Miners upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.92 | |||
| Information Ratio | 0.004 | |||
| Maximum Drawdown | 10.31 | |||
| Value At Risk | (3.13) | |||
| Potential Upside | 3.81 |
Sprott Uranium Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sprott Uranium's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sprott Uranium's standard deviation. In reality, there are many statistical measures that can use Sprott Uranium historical prices to predict the future Sprott Uranium's volatility.| Risk Adjusted Performance | 0.0429 | |||
| Jensen Alpha | 0.048 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0046 | |||
| Treynor Ratio | 0.1751 |
Sprott Uranium Miners Backtested Returns
As of now, Sprott Etf is very steady. Sprott Uranium Miners owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0662, which indicates the etf had a 0.0662% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Sprott Uranium Miners, which you can use to evaluate the volatility of the etf. Please validate Sprott Uranium's Risk Adjusted Performance of 0.0429, coefficient of variation of 2001.67, and Semi Deviation of 1.83 to confirm if the risk estimate we provide is consistent with the expected return of 0.14%. The entity has a beta of 0.56, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Sprott Uranium's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sprott Uranium is expected to be smaller as well.
Auto-correlation | -0.67 |
Very good reverse predictability
Sprott Uranium Miners has very good reverse predictability. Overlapping area represents the amount of predictability between Sprott Uranium time series from 23rd of October 2023 to 20th of May 2024 and 20th of May 2024 to 16th 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 Sprott Uranium Miners price movement. The serial correlation of -0.67 indicates that around 67.0% of current Sprott Uranium price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.67 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 20.75 |
Sprott Uranium Miners lagged returns against current returns
Autocorrelation, which is Sprott Uranium 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 Uranium's etf expected returns. We can calculate the autocorrelation of Sprott Uranium returns to help us make a trade decision. For example, suppose you find that Sprott Uranium 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 Uranium 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 Uranium etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sprott Uranium etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sprott Uranium etf over time.
Current vs Lagged Prices |
| Timeline |
Sprott Uranium Lagged Returns
When evaluating Sprott Uranium's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sprott Uranium etf have on its future price. Sprott Uranium 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 Uranium autocorrelation shows the relationship between Sprott Uranium etf current value and its past values and can show if there is a momentum factor associated with investing in Sprott Uranium Miners.
Regressed Prices |
| Timeline |
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Sprott Uranium 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.