Daily Performance Report for QID ETF: Nov 21, 2024
Summary: The day started with QID ETF opening at $34.36 and closing at $34.58. The ETF showed resilience throughout the day, with the highest price observed at $34.73 and the lowest at $34.34. The underlying asset had a trading range of $0.39 Overall, it was a positive trading day for QID ETF, reflecting investor optimism and market activity.
Change in Closing Price: There was a net increase of $0.22 or 0.64% in the closing price from the opening to the closing price over the day.
Volume Analysis: Trading volume for QID ETF was 48,654 units during Nov 21, 2024, indicating active market participation and investor interest.
Opening Price: The day started at $34.36.
Highest Price: The highest price observed during the day was $34.73.
Lowest Price: The lowest price observed during the day was $34.34.
Closing Price: The day ended at $34.58.
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.
-2.89%
Represents the percentage change in asset value over the past month.
-8.72%
Indicates the percentage change in asset value over the last three months.
36.38%
The highest percentage drop from the peak value to the lowest point during the observed period.
434.85%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
0.94
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
11.28
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 | 34.70 | 34.73 | 34.19 | 34.22 | 1,049,037 | 34.35 | -0.48 -1.38% |
11/20/2024 07:00 PM | 34.77 | 34.86 | 34.64 | 34.70 | 293,168 | 34.73 | -0.07 -0.20% |
11/20/2024 06:00 PM | 34.71 | 34.87 | 34.63 | 34.76 | 392,954 | 34.73 | +0.05 +0.14% |
11/20/2024 05:00 PM | 34.44 | 34.79 | 34.39 | 34.70 | 644,720 | 34.56 | +0.26 +0.75% |
11/20/2024 04:00 PM | 34.64 | 34.89 | 34.38 | 34.42 | 1,119,604 | 34.65 | -0.22 -0.64% |
11/20/2024 03:00 PM | 34.68 | 35.12 | 34.58 | 34.64 | 2,058,823 | 34.89 | -0.04 -0.12% |
11/19/2024 08:00 PM | 34.28 | 34.31 | 34.15 | 34.19 | 622,764 | 34.21 | -0.09 -0.26% |
11/19/2024 07:00 PM | 34.13 | 34.38 | 34.12 | 34.27 | 365,527 | 34.27 | +0.14 +0.41% |
11/19/2024 06:00 PM | 34.44 | 34.48 | 34.12 | 34.14 | 452,262 | 34.29 | -0.30 -0.87% |
11/19/2024 05:00 PM | 34.52 | 34.60 | 34.39 | 34.43 | 254,773 | 34.47 | -0.09 -0.26% |
11/19/2024 04:00 PM | 34.62 | 34.62 | 34.42 | 34.52 | 487,501 | 34.51 | -0.10 -0.29% |
11/19/2024 03:00 PM | 34.90 | 35.00 | 34.56 | 34.62 | 679,406 | 34.76 | -0.28 -0.80% |
11/18/2024 08:00 PM | 34.64 | 34.71 | 34.57 | 34.65 | 504,017 | 34.65 | +0.01 +0.03% |
11/18/2024 07:00 PM | 34.57 | 34.79 | 34.56 | 34.63 | 191,055 | 34.69 | +0.06 +0.17% |
11/18/2024 06:00 PM | 34.56 | 34.77 | 34.53 | 34.56 | 329,012 | 34.64 | 0.00 0.00% |
11/18/2024 05:00 PM | 34.55 | 34.69 | 34.52 | 34.56 | 225,187 | 34.59 | +0.01 +0.03% |
11/18/2024 04:00 PM | 34.49 | 34.63 | 34.34 | 34.56 | 486,107 | 34.45 | +0.07 +0.20% |
11/18/2024 03:00 PM | 35.00 | 35.02 | 34.44 | 34.50 | 826,870 | 34.66 | -0.50 -1.43% |
11/15/2024 08:00 PM | 35.22 | 35.26 | 35.07 | 35.14 | 1,434,868 | 35.16 | -0.08 -0.23% |
11/15/2024 07:00 PM | 35.32 | 35.35 | 35.11 | 35.23 | 504,078 | 35.23 | -0.09 -0.25% |
11/15/2024 06:00 PM | 35.14 | 35.39 | 35.13 | 35.32 | 494,765 | 35.24 | +0.18 +0.51% |
11/15/2024 05:00 PM | 35.11 | 35.26 | 35.06 | 35.14 | 688,301 | 35.14 | +0.03 +0.09% |
11/15/2024 04:00 PM | 34.91 | 35.16 | 34.81 | 35.11 | 660,216 | 34.95 | +0.20 +0.57% |
11/15/2024 03:00 PM | 34.49 | 34.95 | 34.48 | 34.90 | 1,266,241 | 34.76 | +0.41 +1.19% |
11/14/2024 08:00 PM | 33.30 | 33.60 | 33.30 | 33.48 | 869,381 | 33.49 | +0.18 +0.54% |
11/14/2024 07:00 PM | 33.42 | 33.42 | 33.23 | 33.30 | 274,489 | 33.30 | -0.12 -0.36% |
11/14/2024 06:00 PM | 33.25 | 33.43 | 33.14 | 33.42 | 215,214 | 33.25 | +0.17 +0.51% |
11/14/2024 05:00 PM | 33.21 | 33.45 | 33.16 | 33.24 | 566,885 | 33.32 | +0.03 +0.09% |
11/14/2024 04:00 PM | 33.22 | 33.23 | 33.07 | 33.19 | 206,209 | 33.15 | -0.03 -0.09% |
11/14/2024 03:00 PM | 33.24 | 33.37 | 33.08 | 33.22 | 555,574 | 33.25 | -0.02 -0.06% |
11/13/2024 08:00 PM | 32.94 | 33.12 | 32.83 | 33.02 | 808,652 | 32.95 | +0.08 +0.24% |
11/13/2024 07:00 PM | 32.70 | 32.98 | 32.70 | 32.93 | 487,677 | 32.85 | +0.23 +0.70% |
11/13/2024 06:00 PM | 32.79 | 32.85 | 32.66 | 32.71 | 517,600 | 32.75 | -0.08 -0.24% |
11/13/2024 05:00 PM | 33.00 | 33.00 | 32.77 | 32.79 | 383,892 | 32.89 | -0.21 -0.64% |
11/13/2024 04:00 PM | 33.14 | 33.20 | 32.95 | 32.99 | 463,796 | 33.08 | -0.15 -0.45% |
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Start Optimizing NowThe historical performance of QID reflects its objective to deliver twice the inverse daily return of the NASDAQ-100 Index. Due to the effects of daily rebalancing and compounding, the ETF's long-term performance may differ significantly from -2x the index’s performance. Reviewing historical performance data can provide insights into how the ETF has behaved over various time frames.
QID carries several risks including leverage risk, volatility risk, and tracking error. Leverage can amplify gains but also magnify losses. The ETF’s performance can be highly volatile and may deviate significantly from -2x the performance of the NASDAQ-100 Index over longer periods due to the effects of daily rebalancing and compounding.
As of the latest update, QID has an expense ratio of approximately 0.95%. This fee is deducted from the fund’s assets and covers the cost of managing the ETF and maintaining leverage.
QID is an inverse leveraged ETF that seeks to provide -2x the daily return of the NASDAQ-100 Index, meaning it benefits from declines in the index. In contrast, leveraged ETFs like QLD aim to provide positive leverage, specifically 2x the daily return of the index. While QLD seeks to amplify gains in a rising market, QID aims to amplify gains in a declining market.
QID rebalances its portfolio daily to maintain its leverage ratio of -2x the daily return of the NASDAQ-100 Index. This daily rebalancing involves adjusting its derivative positions to ensure it meets its performance objective.
QID is managed by ProShares. The fund uses financial derivatives, such as futures contracts and swaps, to achieve its objective of providing -2x the daily return of the NASDAQ-100 Index. Management involves rebalancing these derivatives daily to maintain the leverage ratio and ensure it meets its performance target.
Factors that can affect the performance of QID include market volatility, changes in the NASDAQ-100 Index, the effectiveness of leverage implementation, and the costs associated with maintaining leverage. Additionally, overall market conditions and macroeconomic factors can influence the ETF’s performance.
Investors can purchase shares of QID through a brokerage account, just like other stocks and ETFs. It is traded on the NASDAQ stock exchange under the ticker symbol "QID."
Yes, QID can be held in retirement accounts such as IRAs or 401(k)s. However, due to its leveraged inverse nature and higher risk profile, it is important for investors to carefully consider their investment goals and risk tolerance before including QID in a retirement portfolio.
QID aims to deliver twice the inverse daily performance of the NASDAQ-100 Index. For example, if the NASDAQ-100 Index decreases by 1% in a day, QID seeks to increase by approximately 2%. Due to the daily resetting of leverage, long-term performance may differ significantly from -2x the index’s performance because of compounding effects.
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