Weekly Performance Report for ERX ETF: Week 47, 2024
Summary: The Weekly started with ERX ETF opening at $69.04 and closing at $70.39. The ETF showed resilience throughout the Weekly, with the highest price observed at $70.45 and the lowest at $68.4. The underlying asset had a trading range of $2.05 Overall, it was a positive trading Weekly for ERX ETF, reflecting investor optimism and market activity.
Change in Closing Price: There was a net increase of $1.35 or 1.96% in the closing price from the opening to the closing price over the Weekly.
Volume Analysis: Trading volume for ERX ETF was 1,206,518 units during Week 47, indicating active market participation and investor interest.
Opening Price: The Weekly started at $69.04.
Highest Price: The highest price observed during the Weekly was $70.45.
Lowest Price: The lowest price observed during the Weekly was $68.4.
Closing Price: The Weekly ended at $70.39.
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
13.31%
Represents the percentage change in asset value over the past month.
15.93%
Indicates the percentage change in asset value over the last three months.
28.57%
The highest percentage drop from the peak value to the lowest point during the observed period.
35.34%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
0.79
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
0.98
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
Type/Period | |
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SMA | |
EMA | |
WMA | |
WEMA |
Pivot Points are used to determine potential support and resistance levels. Here’s a breakdown of the latest Pivot Points for various methods:
Type | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
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Technical Indicators are tools used to analyze market trends and make predictions. Here’s a summary of some key indicators:
Indicator | Value | Details |
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Candlestick patterns are crucial in technical analysis, providing visual insights into market sentiment and potential price movements. This section analyzes various candlestick patterns over a specified range of recent candles to identify any significant formations that might indicate future market trends. Each pattern is evaluated based on the latest candle data to determine if it matches known patterns of bullish or bearish signals.
The tool utilizes real-time price data to scan for these patterns, displaying results with timestamps to help understand the context of each detected pattern.
Timestamp | Pattern | Found |
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Pattern | Support |
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This section provides a detailed overview of historical price data for the selected asset. The table below captures key metrics such as open, high, low, and close prices as well as volume and vwap for each trading period. Analyzing historical prices helps in understanding past market trends and volatility, enabling better-informed decisions for future trading strategies.
Timestamp | Open | High | Low | Close | Volume | VWAP | Change |
---|---|---|---|---|---|---|---|
11/20/2024 08:00 PM | 69.77 | 70.45 | 69.77 | 70.38 | 72,643 | 70.27 | +0.61 +0.87% |
11/20/2024 07:00 PM | 69.51 | 70.00 | 69.46 | 69.82 | 13,306 | 69.74 | +0.31 +0.45% |
11/20/2024 06:00 PM | 69.55 | 69.61 | 69.47 | 69.49 | 9,557 | 69.54 | -0.06 -0.09% |
11/20/2024 05:00 PM | 69.35 | 69.70 | 69.14 | 69.50 | 41,285 | 69.55 | +0.15 +0.22% |
11/20/2024 04:00 PM | 69.25 | 69.61 | 69.12 | 69.59 | 64,026 | 69.27 | +0.34 +0.49% |
11/20/2024 03:00 PM | 70.08 | 70.22 | 69.27 | 69.32 | 50,797 | 69.92 | -0.76 -1.08% |
11/19/2024 08:00 PM | 68.60 | 69.06 | 68.60 | 68.98 | 58,815 | 68.86 | +0.38 +0.55% |
11/19/2024 07:00 PM | 68.83 | 68.94 | 68.63 | 68.68 | 22,467 | 68.80 | -0.15 -0.22% |
11/19/2024 06:00 PM | 69.20 | 69.20 | 68.57 | 68.87 | 37,820 | 68.83 | -0.33 -0.48% |
11/19/2024 05:00 PM | 69.28 | 69.47 | 69.17 | 69.26 | 29,090 | 69.29 | -0.02 -0.03% |
11/19/2024 04:00 PM | 69.18 | 69.35 | 69.04 | 69.35 | 40,809 | 69.14 | +0.17 +0.25% |
11/19/2024 03:00 PM | 69.54 | 69.78 | 69.00 | 69.22 | 55,057 | 69.21 | -0.32 -0.46% |
11/18/2024 08:00 PM | 69.95 | 70.10 | 69.80 | 69.87 | 78,924 | 69.96 | -0.08 -0.11% |
11/18/2024 07:00 PM | 70.07 | 70.16 | 69.82 | 69.98 | 24,576 | 70.00 | -0.09 -0.13% |
11/18/2024 06:00 PM | 69.95 | 70.05 | 69.78 | 70.05 | 42,270 | 69.94 | +0.10 +0.14% |
11/18/2024 05:00 PM | 69.38 | 69.99 | 69.36 | 69.94 | 83,432 | 69.65 | +0.56 +0.81% |
11/18/2024 04:00 PM | 69.19 | 69.51 | 69.03 | 69.40 | 33,409 | 69.35 | +0.21 +0.30% |
11/18/2024 03:00 PM | 68.86 | 69.26 | 68.76 | 69.18 | 72,604 | 69.04 | +0.32 +0.46% |
11/15/2024 08:00 PM | 67.87 | 68.17 | 67.80 | 68.02 | 61,508 | 68.06 | +0.15 +0.22% |
11/15/2024 07:00 PM | 67.90 | 68.04 | 67.68 | 67.88 | 26,176 | 67.83 | -0.02 -0.03% |
11/15/2024 06:00 PM | 68.13 | 68.17 | 67.80 | 67.89 | 13,061 | 67.99 | -0.24 -0.35% |
11/15/2024 05:00 PM | 68.07 | 68.07 | 67.63 | 67.93 | 25,970 | 67.83 | -0.14 -0.21% |
11/15/2024 04:00 PM | 68.68 | 68.85 | 67.73 | 68.23 | 45,031 | 68.21 | -0.45 -0.66% |
11/15/2024 03:00 PM | 69.08 | 69.13 | 68.55 | 68.64 | 50,478 | 68.81 | -0.44 -0.64% |
11/14/2024 08:00 PM | 68.10 | 68.40 | 67.85 | 68.38 | 68,537 | 68.21 | +0.28 +0.41% |
11/14/2024 07:00 PM | 67.88 | 68.25 | 67.88 | 68.20 | 20,257 | 68.08 | +0.32 +0.47% |
11/14/2024 06:00 PM | 67.75 | 67.82 | 67.70 | 67.80 | 15,151 | 67.79 | +0.05 +0.07% |
11/14/2024 05:00 PM | 67.85 | 67.86 | 67.47 | 67.74 | 22,376 | 67.61 | -0.11 -0.16% |
11/14/2024 04:00 PM | 68.08 | 68.23 | 67.90 | 67.90 | 12,911 | 68.09 | -0.18 -0.26% |
11/14/2024 03:00 PM | 68.36 | 68.52 | 67.93 | 68.04 | 14,512 | 68.23 | -0.32 -0.47% |
11/13/2024 08:00 PM | 68.11 | 68.25 | 67.79 | 67.86 | 61,333 | 68.01 | -0.25 -0.37% |
11/13/2024 07:00 PM | 68.24 | 68.37 | 68.10 | 68.18 | 23,195 | 68.23 | -0.06 -0.09% |
11/13/2024 06:00 PM | 67.93 | 68.32 | 67.90 | 68.26 | 20,498 | 68.15 | +0.33 +0.49% |
11/13/2024 05:00 PM | 67.35 | 68.02 | 67.35 | 67.92 | 24,255 | 67.67 | +0.57 +0.85% |
11/13/2024 04:00 PM | 66.35 | 67.47 | 66.26 | 67.31 | 33,141 | 66.83 | +0.96 +1.45% |
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Explore Insights NowERX has an expense ratio of approximately 0.95%. This fee covers the costs associated with managing the fund, including administrative and operational expenses.
Risks include high volatility and the potential for significant losses due to the leveraged nature of the ETF. Leveraged ETFs like ERX are designed for short-term trading and may not perform as expected over longer periods because of compounding and daily rebalancing effects.
ERX typically distributes dividends on a quarterly basis. These dividends are derived from income produced by the fund’s underlying securities and any net investment income.
Key performance metrics for ERX include its net asset value (NAV), daily percentage returns, expense ratio, and tracking error. NAV reflects the per-share value of the ETF, daily returns show the leveraged performance relative to the Energy Select Sector Index, the expense ratio covers management fees, and tracking error measures deviation from the ETF’s target performance.
ERX adjusts its holdings and leverage daily to reflect changes in the Energy Select Sector Index. The ETF uses derivatives to achieve its 3x leverage ratio and rebalances frequently to maintain this exposure.
Similar ETFs to ERX include: DIG (Direxion Daily Energy Bull 2X Shares), which seeks to provide twice (2x) the daily performance of the Energy Select Sector Index; XOP (SPDR S&P Oil & Gas Exploration & Production ETF), which provides exposure to the oil and gas exploration and production sector but without leverage; and XLE (Energy Select Sector SPDR Fund), which provides exposure to the energy sector, including integrated oil, gas, and consumable fuels.
ERX aims to deliver three times the daily performance of the Energy Select Sector Index. Due to its leveraged nature, its performance can vary significantly from the index over longer periods due to daily compounding effects and rebalancing.
Factors influencing ERX’s performance include the volatility and performance of the energy sector, overall market conditions, and the effectiveness of the leveraged strategy. Daily rebalancing and compounding effects can also impact performance.
ERX is managed by Direxion and utilizes financial derivatives such as futures contracts, options, and swaps to achieve its goal of delivering three times the daily performance of the Energy Select Sector Index. The ETF is rebalanced daily to maintain this leverage.
Investors can buy shares of ERX through a brokerage account. It is traded on major stock exchanges under the ticker symbol "ERX" and can be purchased and sold like other stocks and ETFs.
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