Spdr Bofa Merrill Etf Market Value
| XOVR Etf | USD 18.42 1.09 5.59% |
| Symbol | SPDR |
The market value of SPDR BOFA MERRILL is measured differently than its book value, which is the value of SPDR that is recorded on the company's balance sheet. Investors also form their own opinion of SPDR BOFA's value that differs from its market value or its book value, called intrinsic value, which is SPDR BOFA'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 SPDR BOFA's market value can be influenced by many factors that don't directly affect SPDR BOFA'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 SPDR BOFA's value and its price as these two are different measures arrived at by different means. Investors typically determine if SPDR BOFA is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, SPDR BOFA'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.
SPDR BOFA '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 SPDR BOFA'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 SPDR BOFA.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in SPDR BOFA on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding SPDR BOFA MERRILL or generate 0.0% return on investment in SPDR BOFA over 180 days. SPDR BOFA is related to or competes with Invesco Actively, IShares Trust, Xtrackers MSCI, IShares MSCI, IShares MSCI, IShares ESG, and Global X. SPDR BOFA is entity of United States. It is traded as Etf on NYSE exchange. More
SPDR BOFA 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 SPDR BOFA'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 SPDR BOFA MERRILL upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.1 | |||
| Information Ratio | 0.0964 | |||
| Maximum Drawdown | 6.53 | |||
| Value At Risk | (2.35) | |||
| Potential Upside | 2.84 |
SPDR BOFA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SPDR BOFA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SPDR BOFA's standard deviation. In reality, there are many statistical measures that can use SPDR BOFA historical prices to predict the future SPDR BOFA's volatility.| Risk Adjusted Performance | 0.1439 | |||
| Jensen Alpha | 0.1572 | |||
| Total Risk Alpha | 0.0134 | |||
| Sortino Ratio | 0.0744 | |||
| Treynor Ratio | 0.2864 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SPDR BOFA'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.
SPDR BOFA MERRILL Backtested Returns
SPDR BOFA appears to be very steady, given 3 months investment horizon. SPDR BOFA MERRILL owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.2, which indicates the etf had a 0.2% return per unit of volatility over the last 3 months. We have found twenty-eight technical indicators for SPDR BOFA MERRILL, which you can use to evaluate the volatility of the etf. Please review SPDR BOFA's coefficient of variation of 551.26, and Risk Adjusted Performance of 0.1439 to confirm if our risk estimates are consistent with your expectations. The entity has a beta of 0.99, which indicates possible diversification benefits within a given portfolio. SPDR BOFA returns are very sensitive to returns on the market. As the market goes up or down, SPDR BOFA is expected to follow.
Auto-correlation | 0.04 |
Virtually no predictability
SPDR BOFA MERRILL has virtually no predictability. Overlapping area represents the amount of predictability between SPDR BOFA time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 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 SPDR BOFA MERRILL price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current SPDR BOFA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 1.13 |
SPDR BOFA MERRILL lagged returns against current returns
Autocorrelation, which is SPDR BOFA 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 SPDR BOFA's etf expected returns. We can calculate the autocorrelation of SPDR BOFA returns to help us make a trade decision. For example, suppose you find that SPDR BOFA 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 |
SPDR BOFA 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 SPDR BOFA etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SPDR BOFA etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SPDR BOFA etf over time.
Current vs Lagged Prices |
| Timeline |
SPDR BOFA Lagged Returns
When evaluating SPDR BOFA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SPDR BOFA etf have on its future price. SPDR BOFA 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, SPDR BOFA autocorrelation shows the relationship between SPDR BOFA etf current value and its past values and can show if there is a momentum factor associated with investing in SPDR BOFA MERRILL.
Regressed Prices |
| Timeline |
Pair Trading with SPDR BOFA
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 SPDR BOFA 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 SPDR BOFA will appreciate offsetting losses from the drop in the long position's value.Moving together with SPDR Etf
| 0.96 | VUG | Vanguard Growth Index | PairCorr |
| 0.96 | IWF | iShares Russell 1000 | PairCorr |
| 0.94 | IVW | iShares SP 500 | PairCorr |
| 0.94 | SPYG | SPDR Portfolio SP | PairCorr |
| 0.95 | IUSG | iShares Core SP | PairCorr |
The ability to find closely correlated positions to SPDR BOFA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR BOFA 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 SPDR BOFA - 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 SPDR BOFA MERRILL to buy it.
The correlation of SPDR BOFA 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 SPDR BOFA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR BOFA MERRILL 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 SPDR BOFA 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 SPDR BOFA Correlation, SPDR BOFA Volatility and SPDR BOFA Alpha and Beta module to complement your research on SPDR BOFA. You can also try the Bonds Directory module to find actively traded corporate debentures issued by US companies.
SPDR BOFA 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.