GURU.Markets stock price, segment price, and overall market index valuation
The company's share price eToro Group Ltd
The private valuation of eToro, a social trading platform, depends on retail investor activity. Its value is determined by trading volumes, especially during periods of market volatility, user base growth, and the regulatory environment for crypto and CFD brokers.
Share prices of companies in the market segment - Exchange
The private valuation of eToro, a social trading platform, depends on retail investor activity. We classify the company as belonging to the Exchange sector, and the chart below reflects the overall performance of this market segment.
Broad Market Index - GURU.Markets
eToro is a global social trading platform that allows users to trade stocks, cryptocurrencies, and copy other investors. As part of the GURU.Markets index, it represents the retail online brokerage sector. The chart below represents the entire market. See how eToro stock compares to the overall trend.
Change in the price of a company, segment, and market as a whole per day
ETOR - Daily change in the company's share price eToro Group Ltd
eToro's daily price change is a measure of volatility inherent in the brokerage industry, which is heavily dependent on retail investor activity. Change_co reflects sensitivity to market sentiment and trading volumes. For formulas on System.GURU.Markets, this metric serves as an important indicator of trader engagement in market processes.
Daily change in the price of a set of shares in a market segment - Exchange
The online brokerage sector, in which eToro Group Ltd operates, is highly dynamic. This chart reflects the industry's average daily volatility. It serves as a benchmark for assessing how sensitive eToro's business, with its focus on social investing and cryptocurrencies, is to market fluctuations.
Daily change in the price of a broad market stock, index - GURU.Markets
eToro is a popular social trading platform. Its business is directly dependent on activity in the stock and cryptocurrency markets. The chart below shows overall volatility, which is eToro's environment and primary driver.
Dynamics of market capitalization of the company, segment and the market as a whole over 12 months
Annual dynamics of the company's market capitalization eToro Group Ltd
eToro, a popular social trading platform, has been a barometer of retail investor activity over the past year. Its year-over-year share price performance, shown on the chart, reflects trading volumes in both stocks and cryptocurrencies, which are key to its business.
Annual dynamics of market capitalization of the market segment - Exchange
eToro, a privately held company, is a pioneer of social trading, allowing users to copy each other's trades. Its growth reflects the global trend toward democratizing investing. Its valuation is likely outpacing that of traditional brokerages, but it also carries higher risks associated with the involvement of retail investors.
Annual dynamics of market capitalization of broad market stocks, index - GURU.Markets
eToro is a privately held company, and its plans to go public have been postponed, so its shares are not traded. Market performance analysis is not possible. As a global social investment platform, its performance serves as a barometer of retail investor interest in various assets, from stocks to cryptocurrencies.
Dynamics of market capitalization of the company, segment and the market as a whole for the month
Monthly dynamics of the company's market capitalization eToro Group Ltd
The value of eToro, a social trading platform, depends on retail investor activity. Monthly fluctuations on the chart reflect stock and cryptocurrency trading volumes, which spike during periods of market volatility and hype surrounding certain assets.
Monthly dynamics of market capitalization of the market segment - Exchange
eToro is a global investment platform that has made a name for itself through "social trading," allowing users to copy each other's trades. They democratize access to markets, from stocks to cryptocurrencies. The chart below shows the overall dynamics in the online brokerage sector, where the battle for retail investors is fierce.
Monthly dynamics of market capitalization of broad market stocks, index - GURU.Markets
The stocks of online brokers and trading platforms are cyclical and dependent on retail investor activity, which often increases in volatile markets. The chart below shows the overall sentiment. Does eToro move in sync with the market, or do surges in trading activity create their own dynamics?
Dynamics of market capitalization of the company, segment and the market as a whole for the week
Weekly dynamics of the company's market capitalization eToro Group Ltd
eToro, a popular social trading platform, relies on retail investor activity. Its weekly stock price reflects sentiment in financial markets, trading volumes for popular assets (cryptocurrencies, stocks), and the competitive landscape among online brokers.
Weekly dynamics of market capitalization of the market segment - Exchange
Online brokers and trading platforms like eToro rely on retail investor activity, which is cyclical and follows market volatility. The chart below illustrates this sector-wide trend. It compares how eToro's focus on social trading and cryptocurrencies impacts its popularity relative to traditional brokers.
Weekly dynamics of market capitalization of stocks of the broad market, index - GURU.Markets
eToro is a popular social trading platform offering stock and cryptocurrency trading. Its revenue depends on retail investor activity. The chart shows how the company's shares react to spikes and dips in trading activity, which often coincide with market volatility.
Market capitalization of the company, segment and market as a whole
ETOR - Market capitalization of the company eToro Group Ltd
eToro's market capitalization chart represents investors' valuation of its social trading platform. Its dynamics reflect retail investor activity across global markets, from stocks to cryptocurrencies. The scale of this metric speaks to its significant impact on the democratization of finance and its potential to attract millions of users worldwide.
ETOR - Share of the company's market capitalization eToro Group Ltd within the market segment - Exchange
eToro Group is one of the world's leading social trading platforms, having gained a significant share of the retail investor market. Its market capitalization reflects the popularity of its innovative CopyTrader feature, which allows traders to copy the trades of successful traders.
Market capitalization of the market segment - Exchange
This chart shows the total market capitalization of the entire online brokerage and trading platform sector. For eToro, a pioneer in "social trading," this line is an indicator of global retail investor interest in financial markets. The chart's growth reflects an influx of new, often young, investors attracted by the opportunity to copy trades and trade cryptocurrencies.
Market capitalization of all companies included in a broad market index - GURU.Markets
eToro is a popular social trading platform that allows you to copy other investors' trades. Its market capitalization, relative to the global market, reflects the democratization of finance and the strength of its community. It represents the retail investor's share of global trading.
Book value capitalization of the company, segment and market as a whole
ETOR - Book value capitalization of the company eToro Group Ltd
eToro Group is a social investment platform whose business requires significant financial capital to support operations. Its book value reflects its equity, reserves, and technological infrastructure. This is its foundation of trust. How resilient has this capital been in the volatile world of trading? The chart below will show.
ETOR - Share of the company's book capitalization eToro Group Ltd within the market segment - Exchange
eToro Group Ltd is a global social investment platform powered by a powerful technology foundation. Its physical assets are data centers around the world that process millions of transactions in real time. The chart shows its share of the physical infrastructure supporting fintech brokers.
Market segment balance sheet capitalization - Exchange
eToro is a social investment platform. Compared to the capital-intensive financial sector, it's asset-light. The industry's asset chart reflects bank balance sheets. eToro, however, doesn't need bank capital. It requires a powerful IT infrastructure to support millions of users.
Book value of all companies included in the broad market index - GURU.Markets
eToro has built a global social investing platform on a solid foundation. Its book value is derived from its technological infrastructure, regulatory capital across multiple jurisdictions, and global network of offices. The chart illustrates the material weight that underpins this multi-million-dollar trading ecosystem.
The ratio of market capitalization to book capitalization of a company, segment, and the market as a whole
Market capitalization to book capitalization ratio - eToro Group Ltd
eToro is a fintech platform. Its value lies in its brand and massive user base. The chart shows the premium the market pays for its strong community and network effect. Investors value its ability to attract and retain millions of traders worldwide, not its physical offices.
Market to book capitalization ratio in a market segment - Exchange
eToro is a social trading platform that allows users to copy each other's trades. Its value lies in its brand, user base, and technology, not physical assets. The chart shows how highly investors value its network effect and growth potential in the fintech space.
Market to book capitalization ratio for the market as a whole
eToro Group is a global social investment platform that allows users to trade stocks, cryptocurrencies, and follow other traders. Its value lies in its active user base and network effect. This chart shows the overall market valuation, but how do investors view this next-generation broker that has gamified the investing process?
Debts of the company, segment and market as a whole
ETOR - Company debts eToro Group Ltd
For online broker eToro, a solid capital base is a regulatory requirement and a guarantee of client trust. The company's financial strategy is aimed at maintaining this balance. Borrowed funds can be used to finance international development, marketing, and improvements to the trading platform.
Market segment debts - Exchange
eToro Group is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets. Attracting millions of users in the highly competitive fintech space requires massive marketing budgets. This chart shows how the company funds its growth and technological development.
Market debt in general
Debt to book value of the company, segment and market as a whole
The company's debt to book capitalization ratio eToro Group Ltd
eToro Group is a global social investment platform offering stock, cryptocurrency, and CFD trading. This chart shows its capital structure. For a brokerage platform operating in a competitive and regulated environment, maintaining sufficient capital relative to liabilities is key to client trust and operational stability.
Market segment debt to market segment book capitalization - Exchange
Social trading platforms like eToro require significant investments in marketing and technology to attract and retain clients. This chart shows the overall debt burden in the fintech sector. It allows one to assess how aggressively eToro is using capital to fuel its global growth compared to traditional brokers and other fintech companies.
Debt to book value of all companies in the market
This chart shows the overall debt level for all companies in the market. eToro, a fintech trading platform, is aggressively investing in marketing and technology. Comparing it to the broader market allows us to assess how its rapid growth strategy in a competitive online environment differs from the financial policies of the average company in more traditional sectors.
P/E of the company, segment and market as a whole
P/E - eToro Group Ltd
For the eToro Group fintech platform, this chart shows investor sentiment toward its social trading model. The multiple is based on retail investor activity in the stock and cryptocurrency markets. It reflects expectations regarding user engagement and the company's ability to monetize this activity in a highly competitive environment.
P/E of the market segment - Exchange
eToro's social trading is a modern financial service. This chart shows the average rating for brokerage firms. It helps to understand that eToro, as a private company, is valued by investors at a premium for its innovative platform and global reach compared to traditional online brokers.
P/E of the market as a whole
eToro Group Ltd is a global social investment platform that allows users to trade a variety of assets, from stocks to cryptocurrencies, and copy other traders. This chart reflects overall retail investor activity. It helps us understand whether ETOR's valuation is driven by the overall market hype that attracts new users to the platform or by its own business strategy.
Future P/E of the company, segment and market as a whole
Future (projected) P/E of the company eToro Group Ltd
eToro is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets, as well as copy trades from other traders. This chart reflects market expectations for retail investor activity. Its dynamics depend on market volatility and the influx of new users to the platform.
Future (projected) P/E of the market segment - Exchange
eToro Group is a global social investment platform that allows users to trade a variety of assets, from stocks to cryptocurrencies, and copy trades from other traders. This chart shows the company's expected future profitability compared to other online brokers, evaluating its unique social trading model.
Future (projected) P/E of the market as a whole
eToro Group is a popular social investment platform that allows trading stocks, cryptocurrencies, and other assets. Its revenue depends on user trading activity, which spikes during periods of market volatility. The dynamics visible on this chart can directly stimulate or dampen interest in trading.
Profit of the company, segment and market as a whole
Company profit eToro Group Ltd
eToro Group Ltd is a social investment platform that allows users to trade stocks, cryptocurrencies, and other assets, as well as copy trades from other traders. The company's profits depend on the trading activity of its users and trade volumes. This chart reflects the level of retail investor interest in financial markets, particularly volatile assets.
Profit of companies in the market segment - Exchange
eToro is a social investment platform that allows users to copy other traders' trades and invest in a variety of assets, from stocks to cryptocurrencies. Its success depends on the activity of retail investors. This chart shows the overall profitability of the brokerage sector, which is booming thanks to gamification and simplified market access.
Overall market profit
eToro is a social trading platform that allows you to invest in various assets. Its user activity is directly related to volatility and interest in financial markets. This chart, reflecting the state of the corporate sector, influences retail investor sentiment and their willingness to trade.
Future (predicted) profit of the company, segment and market as a whole
Future (projected) profit of the company eToro Group Ltd
eToro is a popular social investment platform that allows users to trade stocks, cryptocurrencies, and other assets, as well as copy successful traders. The company democratizes access to financial markets. This chart is a summary of analysts' forecasts for future profits, which are influenced by retail investor activity and market volatility.
Future (predicted) profit of companies in the market segment - Exchange
eToro is a social investment platform that allows users to trade various assets, including stocks and cryptocurrencies, and copy trades from other traders. The company has made investing accessible to a wide audience. This chart shows profitability forecasts for the financial services and brokerage sectors, providing context for evaluating eToro's business model.
Future (predicted) profit of the market as a whole
eToro is a global investment platform popular among retail investors. Its revenue from trading fees is directly dependent on user activity and market volatility. This corporate earnings forecast reflects the general sentiment that influences people's willingness to trade. Increased optimism and volatility typically lead to increased revenue for eToro.
P/S of the company, segment and market as a whole
P/S - eToro Group Ltd
eToro Group is a social investment and trading platform. This chart shows how the market values ββits transaction fee revenue. This value is heavily influenced by retail investor activity and financial market volatility, particularly in the cryptocurrency market.
P/S market segment - Exchange
eToro Group Ltd is a global social investment platform that allows users to trade various assets, including stocks and cryptocurrencies, and copy trades from other traders. This chart shows the average revenue estimate for fintech brokers. It helps understand how the market views eToro's innovative model and its ability to attract and monetize users.
P/S of the market as a whole
eToro Group is a popular social investment platform that allows users to trade stocks, cryptocurrencies, and other assets, as well as copy trades from other traders. The company's revenue is determined by trading activity. This chart reflects the average market revenue estimate, which helps gauge how investors view the next-generation brokerage business.
Future P/S of the company, segment and market as a whole
Future (projected) P/S of the company eToro Group Ltd
eToro Group is a global social investment platform that allows users to trade various assets, including stocks and cryptocurrencies, and copy trades from other traders. Its estimated future earnings, shown in the chart, are based on user activity and trading volume. This indicator reflects retail investor interest in financial markets.
Future (projected) P/S of the market segment - Exchange
eToro is a social trading and investing platform that allows users to copy other traders' trades. It's a unique model that combines social networking and brokerage services. This chart shows how investors rate its platform and future commission income compared to other online brokers and crypto exchanges.
Future (projected) P/S of the market as a whole
eToro Group is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets. Its activity is directly dependent on retail investor interest in the markets. This chart, reflecting growth expectations, stimulates this interest. When people see positive forecasts, they are more likely to invest, which increases trading volumes on the eToro platform.
Sales of the company, segment and market as a whole
Company sales eToro Group Ltd
eToro Group is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets, as well as copy trades from other traders. This chart shows the company's revenue, consisting of transaction fees and spreads. The growth reflects increased trading activity and the platform's popularity among retail investors.
Sales of companies in the market segment - Exchange
eToro Group Ltd is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets, as well as copy trades from other traders. Its revenue can be segmented by asset class. This chart shows the revenue generated by one of these segments, reflecting its popularity among retail investors.
Overall market sales
eToro Group Ltd is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets. Its growing user base and trading volumes reflect increased retail investor interest in financial markets. eToro serves as a barometer of retail investor engagement, which intensifies during periods of market activity.
Future sales volume of the company, segment and market as a whole
Future (projected) sales of the company eToro Group Ltd
eToro is a social investment platform that allows users to trade various assets, including stocks and cryptocurrencies, and copy other traders' trades. Its revenue forecast depends on the trading activity of its users and trade volumes, serving as a barometer of retail investor interest in the financial markets.
Future (projected) sales of companies in the market segment - Exchange
eToro Group Ltd is a global investment platform offering trading in stocks, cryptocurrencies, and other assets. This chart shows revenue expectations for the entire retail brokerage sector. It reflects analysts' views on retail investor activity and financial market volatility, which directly impact the platform's revenue.
Future (projected) sales of the market as a whole
eToro, a social trading platform, profits from retail investor activity. This activity increases during periods of market growth and overall economic confidence. This chart of overall sales forecasts is an indicator of sentiment, which encourages people to trade stocks, cryptocurrencies, and other assets more actively.
Marginality of the company, segment and market as a whole
Company marginality eToro Group Ltd
eToro Group Ltd is a global social investment platform that allows users to trade various assets, from stocks to cryptocurrencies, and copy other traders' trades. Its revenue comes from commissions and spreads. This chart shows how trader activity on the platform translates into profit for the company, which is highly dependent on market volatility.
Market segment marginality - Exchange
eToro Group is a social investment platform that allows users to trade various assets, from stocks to cryptocurrencies, and copy trades from other traders. Their business model is based on transaction fees. This chart shows how user engagement and gamification of trading impact the platform's operating profitability in the brokerage industry.
Market marginality as a whole
eToro Group Ltd is a global social investment platform that allows users to trade stocks, cryptocurrencies, and other assets. The company's profitability depends on its clients' trading activity. This chart shows overall profitability, but for ETOR, the growth of retail investing and interest in new asset classes are key business drivers.
Employees in the company, segment and market as a whole
Number of employees in the company eToro Group Ltd
eToro is a social investment platform that allows users to copy trades from other traders. This chart shows the growth of its team of developers, marketers, and support specialists. This growth reflects the growing popularity of retail trading and the company's efforts to attract new users worldwide.
Share of the company's employees eToro Group Ltd within the market segment - Exchange
eToro Group is a popular social investment platform. Although it's a fintech company, it requires a large team to support millions of users worldwide, moderate content, and ensure compliance. This metric reflects its scale as a global employer in the online retail investment space.
Number of employees in the market segment - Exchange
eToro Group is a global social investment platform that allows users to trade a variety of assets, including cryptocurrencies. This chart shows employment at exchanges and brokerage firms. The growth in this sector reflects increased retail investor interest in financial markets, which directly impacts eToro's user base.
Number of employees in the market as a whole
eToro Group is a social investment platform. The growth in employment and income, illustrated by this chart, directly impacts their business. When people have available funds, they become more interested in investing. The eToro platform provides them with an accessible tool for entering the financial markets, attracting new users.
Market capitalization per employee (in thousands of dollars) of the company, segment, and market as a whole
Market capitalization per employee (in thousands of dollars) of the company eToro Group Ltd (ETOR)
eToro is a social investment platform that allows users to copy other traders' trades. The high market cap per employee in this chart suggests the market views it as a technology company rather than a traditional broker. Its value lies in its platform and network effect, which allow it to scale with a relatively small staff.
Market capitalization per employee (in thousands of dollars) in the market segment - Exchange
eToro (ETOR) is a "social" trading platform known for its "copy trading." It's a technology company aiming to serve millions of clients with a minimal staff. This chart shows the market price per employee, testing the effectiveness of its technology model against the "old guard."
Market capitalization per employee (in thousands of dollars) for the overall market
eToro Group Ltd is a global social investment platform that allows users to trade stocks, cryptocurrencies, and copy other traders. Their business is focused on technology and marketing, not physical assets. The chart shows the high market valuation of this scalable financial technology platform.
Profit per employee (in thousands of dollars) for the company, segment, and market as a whole
Profit per employee (in thousands of dollars) of the company eToro Group Ltd (ETOR)
eToro Group Ltd is a global social trading and investing platform that allows users to copy other traders' trades. It's a fintech business built on user engagement. This chart shows how effectively their technology platform and marketing team convert user activity (trading) into spread and commission revenue, generating profit per employee.
Profit per employee (in thousands of dollars) in the market segment - Exchange
eToro is a "social" broker popular in Europe (stocks, crypto, CFDs). This chart shows the benchmark for "Exchange" (Brokers). In this fintech sector, staff profitability is high. The platform (app) is automated and serves millions of traders with the help of an IT team. Profit is generated from commissions ("spreads").
Profit per employee (in thousands of dollars) for the market as a whole
eToro (ETOR) is a global platform for social trading and investing. It allows users to trade stocks, cryptocurrencies, and CFDs, as well as automatically copy other traders' trades. This graph, showing average profit per employee, allows us to assess how much the fintech sector, where platforms and algorithms are more important than headcount, outperforms the "average" labor efficiency.
Sales to employees of the company, segment and market as a whole
Sales per company employee eToro Group Ltd (ETOR)
eToro is a global platform for social trading and investing. This chart demonstrates the effectiveness of its fintech model. Its high revenue per employee demonstrates the platform's ability to serve millions of users worldwide, generating revenue from trading fees through its scalable technology infrastructure.
Sales per employee in the market segment - Exchange
eToro is a popular social trading platform that allows investors to trade stocks, cryptocurrencies, and copy other traders. This chart shows revenue per employee. Comparison with the online brokerage industry helps assess how effective their technology platform and "social investing" model are in generating commissions.
Sales per employee for the market as a whole
eToro is a global investment platform known for its "social trading," which allows you to copy other investors' trades. It's a scalable fintech platform. Revenue is determined by commissions and spreads. This chart shows how much revenue the company generates per employee (developer, marketer, support). The growth of this metric demonstrates the effectiveness of their technology model.
Short shares by company, segment and market as a whole
Shares shorted by company eToro Group Ltd (ETOR)
eToro is a popular fintech platform (broker) known for its "social trading," which allows traders to copy other traders' trades. The company's business thrives when markets (especially crypto) are in high gear. When the market calms, trading volumes drop. This chart shows the number of investors betting that the hype has died down and trading activity will decline.
Shares shorted by market segment - Exchange
eToro Group is a social investment platform that allows users to trade stocks, commodities, and cryptocurrencies, as well as copy other traders. Their earnings depend on their trading activity. This chart shows the odds against the retail online brokerage sector. It rises when investors anticipate a "crypto winter" or a decline in retail trading interest.
Shares shorted by the overall market
eToro (ETOR) is a brokerage platform focused on retail traders. Their business thrives on activity. This Short_All chart shows deep pessimism and fear. This fear paralyzes retail investors, causing them to stop trading. This directly drains eToro's revenue stream.
RSI 14 indicator for a company, segment, and market as a whole
The company's RSI 14 indicator eToro Group Ltd (ETOR)
eToro is a popular social trading platform (stocks, crypto). Its business depends on retail investor activity and market volatility. This chart for eToro stock (if it were trading) would reflect the peaks (>70) and troughs (<30) of retail interest in trading, especially speculative assets.
RSI 14 Market Segment - Exchange
eToro is a social trading platform that allows copy trading and stock/crypto trading. RSI_14_Seg for "Exchange" (brokers) shows the "temperature" in the sector. It helps us understand whether eToro's growth is a unique model or simply a general market overheating leading to increased trading volumes.
RSI 14 for the overall market
For eToro, a brokerage platform, this chart is an indicator of user activity. During periods of market euphoria, crowds of new, often inexperienced investors flock to the platform, lured by easy money, which generates commissions. During periods of panic and oversold markets, these same investors lose money and exit the market, sharply reducing trading volumes.
Analyst consensus forecast for the company's share price, the segment, and the market as a whole
Analyst consensus stock price forecast ETOR (eToro Group Ltd)
eToro is a global social trading platform that allows users to trade stocks, cryptocurrencies, and CFDs, as well as copy trades from other traders. This chart shows the average analyst forecast. Their target prices depend on retail trader activity (especially in the crypto market), new user acquisition, and the regulatory environment.
The difference between the consensus estimate and the actual stock price ETOR (eToro Group Ltd)
eToro (ETOR) is a global social trading platform that allows investors to copy trades across stocks, commodities, and cryptocurrencies. This chart shows the evaluation of their fintech model. It measures the gap between the price and the consensus target, reflecting the potential analysts see for growth and user engagement.
Analyst consensus forecast for stock prices by market segment - Exchange
eToro is a global "social" trading platform. It became known for its "CopyTrader" feature, which allows you to copy other investors' trades, and for its early focus on crypto. This chart shows analysts' overall expectations for the entire exchange sector. It reflects whether experts believe the retail trading boom is returning.
Analysts' consensus forecast for the overall market share price
eToro Group Ltd is a global social trading platform that allows users to copy other traders' trades and invest in stocks, commodities, and cryptocurrencies. This chart shows overall market sentiment. For eToro, whose revenue depends on trader activity, overall market optimism and, more importantly, volatility are key drivers: the more excitement, the more trading.
AKIMA index of the company, segment and market as a whole
AKiMA Company Index eToro Group Ltd
eToro is a global fintech platform known for its social trading feature (CopyTrader), which allows users to copy the trades of successful investors. They offer stocks, commodities, and cryptocurrencies. This chart is a barometer of retail trader activity. It is highly dependent on market volatility (especially in crypto) and their ability to attract new users to their platform.
AKIMA Market Segment Index - Exchange
eToro is a global fintech platform that popularized social trading and copy trading, allowing retail investors to copy the trades of professionals. This composite metric evaluates financial companies. The chart shows the sector average. This benchmark: how does eToro's unique (social trading) model differentiate it from the average broker?
The AKIM Index for the overall market
eToro is a social broker (like Robinhood). The platform is known for copy trading and crypto trading, serving global retail investors. This chart, which reflects the market average, is the backdrop. It helps assess how eToro, whose income depends on volatility (which incentivizes trading), compares to the overall macroeconomic situation.