Daily Performance Report for QID ETF: Nov 6, 2024
Summary: The day started with QID ETF opening at $35.74 and closing at $33.84. The ETF showed weakness throughout the day, with the highest price observed at $35.81 and the lowest at $33.65. The underlying asset had a trading range of $2.16 Overall, it was a negative trading day for QID ETF, reflecting investor pessimism and market activity.
Change in Closing Price: There was a net decrease of $-1.90 or -5.32% in the closing price from the opening to the closing price over the day.
Volume Analysis: Trading volume for QID ETF was 7,364,277 units during Nov 6, 2024, indicating active market participation and investor interest.
Opening Price: The day started at $35.74.
Highest Price: The highest price observed during the day was $35.81.
Lowest Price: The lowest price observed during the day was $33.65.
Closing Price: The day ended at $33.84.
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.
-3.64%
Represents the percentage change in asset value over the past month.
-20.99%
Indicates the percentage change in asset value over the last three months.
32.72%
The highest percentage drop from the peak value to the lowest point during the observed period.
445.79%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
0.98
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
13.32
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 | |
---|---|
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 |
---|---|---|---|---|---|---|---|
Technical Indicators are tools used to analyze market trends and make predictions. Here’s a summary of some key indicators:
Indicator | Value | Details |
---|---|---|
|
|
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 |
---|---|---|
Pattern | Support |
---|---|
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 |
---|---|---|---|---|---|---|---|
11/06/2024 08:00 PM | 33.88 | 33.90 | 33.72 | 33.84 | 1,499,400 | 33.83 | -0.04 -0.12% |
11/06/2024 07:00 PM | 33.95 | 34.01 | 33.85 | 33.86 | 296,638 | 33.92 | -0.09 -0.27% |
11/06/2024 06:00 PM | 34.14 | 34.14 | 33.91 | 33.98 | 362,530 | 34.00 | -0.16 -0.47% |
11/06/2024 05:00 PM | 34.20 | 34.25 | 34.10 | 34.13 | 277,636 | 34.16 | -0.07 -0.20% |
11/06/2024 04:00 PM | 34.44 | 34.54 | 34.15 | 34.20 | 535,691 | 34.30 | -0.24 -0.70% |
11/06/2024 03:00 PM | 34.58 | 34.63 | 34.10 | 34.44 | 1,499,091 | 34.34 | -0.14 -0.40% |
11/05/2024 08:00 PM | 35.96 | 35.98 | 35.74 | 35.76 | 487,980 | 35.82 | -0.20 -0.56% |
11/05/2024 07:00 PM | 35.88 | 35.98 | 35.80 | 35.93 | 184,428 | 35.88 | +0.05 +0.14% |
11/05/2024 06:00 PM | 35.73 | 35.96 | 35.69 | 35.88 | 211,835 | 35.84 | +0.15 +0.42% |
11/05/2024 05:00 PM | 35.78 | 35.82 | 35.66 | 35.76 | 233,149 | 35.73 | -0.02 -0.06% |
11/05/2024 04:00 PM | 36.08 | 36.17 | 35.76 | 35.78 | 498,995 | 35.92 | -0.30 -0.83% |
11/05/2024 03:00 PM | 35.95 | 36.13 | 35.86 | 36.08 | 846,278 | 35.99 | +0.13 +0.36% |
11/04/2024 08:00 PM | 36.51 | 36.74 | 36.49 | 36.70 | 773,923 | 36.66 | +0.19 +0.52% |
11/04/2024 07:00 PM | 36.46 | 36.56 | 36.40 | 36.50 | 177,482 | 36.47 | +0.04 +0.11% |
11/04/2024 06:00 PM | 36.54 | 36.69 | 36.38 | 36.45 | 508,267 | 36.48 | -0.09 -0.25% |
11/04/2024 05:00 PM | 36.72 | 36.89 | 36.48 | 36.52 | 339,563 | 36.69 | -0.20 -0.54% |
11/04/2024 04:00 PM | 36.33 | 36.81 | 36.18 | 36.72 | 624,012 | 36.47 | +0.39 +1.07% |
11/04/2024 03:00 PM | 36.53 | 36.57 | 36.25 | 36.34 | 475,112 | 36.39 | -0.19 -0.52% |
11/01/2024 07:00 PM | 36.40 | 36.56 | 36.26 | 36.46 | 747,447 | 36.43 | +0.06 +0.16% |
11/01/2024 06:00 PM | 36.43 | 36.51 | 36.35 | 36.40 | 287,767 | 36.42 | -0.03 -0.08% |
11/01/2024 05:00 PM | 36.23 | 36.43 | 36.09 | 36.42 | 457,072 | 36.29 | +0.19 +0.52% |
11/01/2024 04:00 PM | 36.20 | 36.30 | 36.08 | 36.24 | 249,976 | 36.17 | +0.04 +0.11% |
11/01/2024 03:00 PM | 36.15 | 36.24 | 35.96 | 36.18 | 558,258 | 36.10 | +0.03 +0.08% |
11/01/2024 02:00 PM | 36.36 | 36.53 | 36.00 | 36.17 | 1,119,242 | 36.24 | -0.19 -0.52% |
10/31/2024 07:00 PM | 36.83 | 36.97 | 36.56 | 36.95 | 955,753 | 36.78 | +0.12 +0.33% |
10/31/2024 06:00 PM | 36.88 | 36.97 | 36.83 | 36.85 | 990,748 | 36.90 | -0.03 -0.08% |
10/31/2024 05:00 PM | 36.71 | 36.91 | 36.62 | 36.87 | 720,878 | 36.78 | +0.16 +0.44% |
10/31/2024 04:00 PM | 36.77 | 36.83 | 36.65 | 36.70 | 446,383 | 36.72 | -0.07 -0.19% |
10/31/2024 03:00 PM | 36.71 | 36.91 | 36.61 | 36.77 | 1,474,616 | 36.75 | +0.06 +0.16% |
10/31/2024 02:00 PM | 36.46 | 36.76 | 36.32 | 36.70 | 1,706,148 | 36.53 | +0.24 +0.66% |
10/30/2024 07:00 PM | 34.95 | 35.24 | 34.95 | 35.17 | 812,099 | 35.11 | +0.22 +0.63% |
10/30/2024 06:00 PM | 35.02 | 35.02 | 34.88 | 34.94 | 377,515 | 34.93 | -0.08 -0.23% |
10/30/2024 05:00 PM | 34.81 | 35.09 | 34.79 | 35.03 | 357,963 | 34.93 | +0.22 +0.63% |
10/30/2024 04:00 PM | 34.73 | 34.84 | 34.69 | 34.80 | 167,854 | 34.76 | +0.07 +0.20% |
10/30/2024 03:00 PM | 34.79 | 34.93 | 34.68 | 34.72 | 531,467 | 34.80 | -0.07 -0.20% |
Transform your approach to trading with RankMyTrade Online. Our automated system offers detailed metrics and technical analysis for QID, tailored to enhance your trading performance. Enhance your market performance today and elevate your strategy today!
Discover More NowQID 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.
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.
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."
Key performance metrics for QID include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely QID follows its inverse leverage goal relative to the NASDAQ-100 Index.
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.
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 distributes dividends on a quarterly basis. These dividends are paid from the income generated by the underlying securities and derivative contracts in the ETF’s portfolio.
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.
Similar ETFs to QID include ProShares UltraPro Short QQQ (SQQQ), which seeks to provide -3x the daily return of the NASDAQ-100 Index, and ProShares Short QQQ (PSQ), which aims for -1x the daily return of the index. These ETFs offer different levels of inverse exposure to the NASDAQ-100 Index.
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.
Discover our curated selection of top-performing exchange-traded funds (ETFs) that represent a diverse range of investment opportunities.
SPY is an exchange-traded fund (ETF) that aims to replicate the performance of the S&P 500 Index. The S&P 500 Index includes 500 of the largest publicly traded companies in the United States, representing a broad cross-section of the U.S. economy.
QQQ is an exchange-traded fund (ETF) that tracks the performance of the Nasdaq-100 Index. This index includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, primarily focusing on technology and innovation sectors.
DIA is an exchange-traded fund (ETF) that aims to track the performance of the Dow Jones Industrial Average (DJIA). The DJIA is a stock market index consisting of 30 large, publicly traded companies in the United States, representing a broad range of industries.
IWM is an exchange-traded fund (ETF) that seeks to track the performance of the Russell 2000 Index. The Russell 2000 Index measures the performance of the 2,000 smallest stocks in the Russell 3000 Index, representing a broad segment of small-cap U.S. companies.
Achieve superior trading results with RankMyTrade Platform. Our platform provides expert analysis and actionable insights for QID, utilizing the latest technology to refine your investment approach. Transform your trading strategy now now and see the impact on your trading success!
The information displayed on this site is sourced from third-party providers and is believed to be reliable. RankMyTrade (RMT) has not independently verified this data and does not guarantee its accuracy. The information and calculations provided by RankMyTrade are for educational and informational purposes only and should not be construed as financial or investment advice.
With any investment, your capital is at risk. The value of your portfolio go down as well as up. Past performance is no guarantee of future results. By using this website, you accept our Terms of Service, Privacy Policy, and Payment Agreement.
Market data is provided in near real-time when available, but we do not guarantee its accuracy or timeliness.
Securities products are: Not FDIC insured · Not bank guaranteed · May lose value
Trademarks and logos are the property of their respective owners and do not represent endorsements of any kind. Unless otherwise noted, RankMyTrade and its affiliates are not partners, affiliates, or licensees of these companies.