Asset Summary
Daily Performance Report for SDS ETF: Sep 16, 2024
Summary: The day started with SDS ETF opening at $21.9 and closing at $21.87. The ETF showed weakness throughout the day, with the highest price observed at $22.09 and the lowest at $21.85. The underlying asset had a trading range of $0.24 Overall, it was a negative trading day for SDS ETF, reflecting investor pessimism and market activity.
Change in Closing Price: There was a net decrease of $-0.03 or -0.14% in the closing price from the opening to the closing price over the day.
Volume Analysis: Trading volume for SDS ETF was 5,597,772 units during Sep 16, 2024, indicating active market participation and investor interest.
Opening Price: The day started at $21.9.
Highest Price: The highest price observed during the day was $22.09.
Lowest Price: The lowest price observed during the day was $21.85.
Closing Price: The day ended at $21.87.
Asset Performance Metrics and Risk Characteristics:
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.
1 Month Trailing Return
-2.06%
Represents the percentage change in asset value over the past month.
3 Month Trailing Return
-5.88%
Indicates the percentage change in asset value over the last three months.
Period Max Drawdown
30.61%
The highest percentage drop from the peak value to the lowest point during the observed period.
Standard Deviation
25.72%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
Sharpe Ratio
-1.66
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
Calmar Ratio
-1.39
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Asset Technical Analysis
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
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 |
- SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
- EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
- WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
- WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.
Pivot Support and Resistance Levels
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 |
|---|---|---|---|---|---|---|---|
- Classic Pivot Points: Derived from the high, low, and close of the previous period to predict support and resistance.
- Fibonacci Pivot Points: Uses Fibonacci levels to calculate support and resistance.
- Camarilla Pivot Points: Uses a different formula to calculate levels based on the previous period’s high, low, and close.
- Floor Pivot Points: Based on the floor theory, with adjustments for support and resistance levels.
- Woodies Pivot Points: Uses a formula incorporating the previous period's open price.
- DeMark Pivot Points: Employs DeMark's method which varies depending on the closing price relative to the opening price.
Technical Indicators
Technical Indicators are tools used to analyze market trends and make predictions. Here’s a summary of some key indicators:
| Indicator | Value | Details |
|---|---|---|
|
|
|
- ADL (Accumulation/Distribution Line): Measures the cumulative flow of money into and out of a security.
- ForceIndex: Combines price and volume to gauge the power of price movements.
- MFI (Money Flow Index): Indicates the direction of money flow into and out of a security.
- OBV (On-Balance Volume): Uses volume flow to predict changes in stock price.
- VWAP (Volume Weighted Average Price): Shows the average price a security has traded at throughout the day, based on volume and price.
- VolumeProfile: Analyzes trading volume at different price levels over a specific period.
- ADX (Average Directional Index): Measures the strength of a trend.
- ATR (Average True Range): Reflects market volatility by measuring the average range of price movement.
- Ichimoku Cloud: Provides information about support and resistance levels, trend direction, and momentum.
- KST (Know Sure Thing): A momentum indicator that combines four different momentum measurements.
- PSAR (Parabolic SAR): Indicates potential reversals in the market.
- ROC (Rate of Change): Measures the percentage change in price over a specific period.
- Stochastic: Measures the level of the closing price relative to the high-low range over a period.
- StochasticRSI: Combines RSI with Stochastic Oscillator to gauge the RSI level’s relative position.
- TRIX: Shows the percentage change in a triple-smoothed moving average.
- WilliamR: Indicates overbought and oversold conditions.
- MACD (Moving Average Convergence Divergence): Shows the relationship between two moving averages of a security's price.
- AO (Awesome Oscillator): Measures market momentum by comparing a 34-period and a 5-period simple moving average.
- CCI (Commodity Channel Index): Measures the deviation of the price from its average over a period.
- RSI (Relative Strength Index): Indicates overbought or oversold conditions by comparing recent gains and losses.
- BB (Bollinger Bands): Indicates volatility and potential overbought or oversold conditions based on price bands.
- Keltner Channels: Similar to Bollinger Bands but uses average true range for bands.
Candlestick Patterns Analysis
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.
Scanned Candlestick Patterns
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.
Patterns Detected
| Timestamp | Pattern | Found |
|---|---|---|
Detectable Candlestick Patterns
| Pattern | Support |
|---|---|
Historical Prices
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 |
|---|---|---|---|---|---|---|---|
| 09/16/2024 07:00 PM | 21.87 | 21.93 | 21.86 | 21.87 | 554,906 | 21.89 | 0.00 0.00% |
| 09/16/2024 06:00 PM | 21.88 | 21.93 | 21.86 | 21.87 | 677,090 | 21.90 | -0.01 -0.05% |
| 09/16/2024 05:00 PM | 21.96 | 21.99 | 21.88 | 21.88 | 685,068 | 21.94 | -0.08 -0.36% |
| 09/16/2024 04:00 PM | 21.97 | 22.05 | 21.95 | 21.96 | 782,476 | 21.99 | -0.01 -0.05% |
| 09/16/2024 03:00 PM | 22.02 | 22.06 | 21.96 | 21.98 | 976,294 | 22.00 | -0.04 -0.18% |
| 09/16/2024 02:00 PM | 21.89 | 22.09 | 21.86 | 22.02 | 1,309,512 | 21.97 | +0.13 +0.59% |
| 09/13/2024 07:00 PM | 21.96 | 21.99 | 21.89 | 21.92 | 2,007,294 | 21.92 | -0.04 -0.18% |
| 09/13/2024 06:00 PM | 21.86 | 21.98 | 21.84 | 21.95 | 1,856,603 | 21.92 | +0.09 +0.41% |
| 09/13/2024 05:00 PM | 21.89 | 21.90 | 21.83 | 21.87 | 656,954 | 21.86 | -0.02 -0.09% |
| 09/13/2024 04:00 PM | 21.85 | 21.97 | 21.83 | 21.90 | 1,001,507 | 21.91 | +0.05 +0.23% |
| 09/13/2024 03:00 PM | 21.93 | 21.95 | 21.84 | 21.85 | 964,233 | 21.90 | -0.08 -0.36% |
| 09/13/2024 02:00 PM | 21.98 | 22.07 | 21.86 | 21.92 | 2,104,510 | 21.96 | -0.06 -0.27% |
| 09/12/2024 07:00 PM | 22.15 | 22.19 | 22.11 | 22.12 | 2,789,702 | 22.15 | -0.03 -0.14% |
| 09/12/2024 06:00 PM | 22.11 | 22.31 | 22.09 | 22.15 | 2,009,948 | 22.17 | +0.04 +0.18% |
| 09/12/2024 05:00 PM | 22.27 | 22.29 | 22.09 | 22.11 | 1,117,701 | 22.18 | -0.16 -0.72% |
| 09/12/2024 04:00 PM | 22.49 | 22.50 | 22.26 | 22.28 | 907,548 | 22.41 | -0.21 -0.93% |
| 09/12/2024 03:00 PM | 22.50 | 22.52 | 22.32 | 22.49 | 1,237,687 | 22.43 | -0.01 -0.04% |
| 09/12/2024 02:00 PM | 22.54 | 22.58 | 22.34 | 22.49 | 1,468,319 | 22.43 | -0.05 -0.22% |
| 09/11/2024 07:00 PM | 22.72 | 22.75 | 22.40 | 22.50 | 2,502,467 | 22.58 | -0.22 -0.97% |
| 09/11/2024 06:00 PM | 22.86 | 22.88 | 22.62 | 22.71 | 1,581,308 | 22.75 | -0.15 -0.66% |
| 09/11/2024 05:00 PM | 23.07 | 23.08 | 22.78 | 22.87 | 1,511,740 | 22.93 | -0.20 -0.87% |
| 09/11/2024 04:00 PM | 23.32 | 23.33 | 23.06 | 23.08 | 1,881,048 | 23.16 | -0.24 -1.03% |
| 09/11/2024 03:00 PM | 23.60 | 23.64 | 23.26 | 23.31 | 2,656,708 | 23.42 | -0.29 -1.23% |
| 09/11/2024 02:00 PM | 23.30 | 23.70 | 23.30 | 23.60 | 2,945,359 | 23.55 | +0.30 +1.29% |
| 09/10/2024 07:00 PM | 23.00 | 23.01 | 22.92 | 22.93 | 1,159,711 | 22.96 | -0.07 -0.30% |
| 09/10/2024 06:00 PM | 23.10 | 23.10 | 22.99 | 23.00 | 758,328 | 23.03 | -0.10 -0.43% |
| 09/10/2024 05:00 PM | 23.26 | 23.26 | 23.08 | 23.10 | 1,600,652 | 23.13 | -0.16 -0.69% |
| 09/10/2024 04:00 PM | 23.34 | 23.41 | 23.19 | 23.26 | 1,628,562 | 23.33 | -0.08 -0.34% |
| 09/10/2024 03:00 PM | 23.14 | 23.34 | 23.04 | 23.33 | 1,334,565 | 23.15 | +0.19 +0.82% |
| 09/10/2024 02:00 PM | 23.03 | 23.22 | 23.00 | 23.14 | 2,653,973 | 23.14 | +0.11 +0.48% |
| 09/09/2024 07:00 PM | 23.26 | 23.31 | 23.14 | 23.14 | 1,847,583 | 23.22 | -0.12 -0.52% |
| 09/09/2024 06:00 PM | 23.20 | 23.33 | 23.20 | 23.26 | 2,183,201 | 23.24 | +0.06 +0.26% |
| 09/09/2024 05:00 PM | 23.05 | 23.21 | 23.02 | 23.20 | 1,071,981 | 23.09 | +0.15 +0.65% |
| 09/09/2024 04:00 PM | 23.18 | 23.20 | 23.03 | 23.04 | 933,000 | 23.10 | -0.14 -0.60% |
| 09/09/2024 03:00 PM | 23.41 | 23.47 | 23.17 | 23.18 | 1,335,835 | 23.32 | -0.23 -0.98% |
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Take Action NowFrequently Asked Questions
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Yes, SDS can be held in retirement accounts such as IRAs or 401(k)s. Investors should consider their investment goals and risk tolerance due to the leveraged and inverse nature of the fund.
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SDS rebalance its portfolio daily to maintain its -2x leverage ratio relative to the S&P 500 Index. This daily rebalancing is necessary to meet the fund’s objective of providing twice the inverse daily return.
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Investors can purchase shares of SDS through a brokerage account, similar to other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "SDS."
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SDS distributes dividends on a quarterly basis. These dividends come from the income generated by the underlying securities in the fund’s portfolio, adjusted for the ETF’s leveraged and inverse position.
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SDS aims to provide twice the inverse of the daily return of the S&P 500 Index. This means that if the S&P 500 Index decreases by 1% in a day, SDS seeks to increase by 2%. Conversely, if the S&P 500 Index increases, SDS aims to decrease by twice that amount. Due to daily rebalancing and compounding effects, the long-term performance may deviate from -2x the cumulative return of the S&P 500.
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SDS is managed by ProShares. The fund uses leverage and financial derivatives such as futures contracts and swaps to achieve its goal of providing twice the inverse of the daily return of the S&P 500 Index. The ETF is rebalanced daily to maintain the -2x leverage ratio.
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As of the latest update, SDS has an expense ratio of approximately 0.89%. This fee covers the costs associated with managing the fund, including the costs of leveraging and maintaining the inverse exposure.
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Risks associated with SDS include leverage risk, market risk, and tracking error. The use of leverage can amplify both gains and losses, leading to increased volatility. Daily rebalancing and compounding effects can result in performance deviations from the intended -2x return over longer periods.
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Similar ETFs to SDS include ProShares UltraPro Short S&P 500 ETF (SPXU), which seeks to provide three times (3x) the inverse daily return of the S&P 500 Index, and Direxion Daily S&P 500 Bear 3x Shares (SPXS), which also aims to deliver three times the inverse daily performance of the S&P 500 Index.
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The historical performance of SDS reflects its objective to provide twice the inverse of the daily return of the S&P 500 Index. While it can achieve this over short periods, the long-term performance may vary due to the effects of leverage, daily rebalancing, and compounding.
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