Evolve Active Canadian Etf Fundamentals
| DIVS Etf | CAD 16.21 0.01 0.06% |
Evolve Active Canadian fundamentals help investors to digest information that contributes to Evolve Active's financial success or failures. It also enables traders to predict the movement of Evolve Etf. The fundamental analysis module provides a way to measure Evolve Active's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Evolve Active etf.
Evolve |
Evolve Active Canadian ETF Beta Analysis
Evolve Active's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Evolve Active Beta | 0.78 |
Most of Evolve Active's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Evolve Active Canadian is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Evolve Active Canadian has a Beta of 0.78. This is much higher than that of the Evolve Funds Group Inc. family and significantly higher than that of the Preferred Share Fixed Income category. The beta for all Canada etfs is notably lower than that of the firm.
Evolve Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Evolve Active's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Evolve Active could also be used in its relative valuation, which is a method of valuing Evolve Active by comparing valuation metrics of similar companies.Evolve Active is rated # 4 ETF in beta as compared to similar ETFs.
As returns on the market increase, Evolve Active's returns are expected to increase less than the market. However, during the bear market, the loss of holding Evolve Active is expected to be smaller as well.
Evolve Fundamentals
| Beta | 0.78 | |||
| Total Asset | 245.77 M | |||
| One Year Return | 20.60 % | |||
| Three Year Return | 2.60 % | |||
| Five Year Return | 4.80 % | |||
| Net Asset | 245.77 M | |||
| Last Dividend Paid | 0.07 |
About Evolve Active Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Evolve Active Canadian's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Evolve Active using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Evolve Active Canadian based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.The investment objective of CAPS is to seek to provide holders of Units with long-term capital appreciation by investing primarily in equity securities of U.S. listed large-capitalization companies using a selection process that combines quantitative techniques, fundamental analysis and risk management. EVOLVE ACTIVE is traded on Toronto Stock Exchange in Canada.
Pair Trading with Evolve Active
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Evolve Active position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Evolve Active will appreciate offsetting losses from the drop in the long position's value.Moving together with Evolve Etf
| 0.87 | ZPR | BMO Laddered Preferred | PairCorr |
| 0.89 | HPR | Global X Active | PairCorr |
| 0.9 | CPD | iShares SPTSX Canadian | PairCorr |
| 0.86 | RPF | RBC Canadian Preferred | PairCorr |
| 0.92 | DXP | Dynamic Active Preferred | PairCorr |
Moving against Evolve Etf
| 0.72 | NXF | First Asset Energy | PairCorr |
| 0.53 | LIFE | Evolve Global Healthcare | PairCorr |
| 0.38 | PAYF | Purpose Enhanced Premium | PairCorr |
The ability to find closely correlated positions to Evolve Active could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evolve Active when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Evolve Active - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Evolve Active Canadian to buy it.
The correlation of Evolve Active is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Evolve Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve Active Canadian moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Evolve Active can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Evolve Etf
Evolve Active financial ratios help investors to determine whether Evolve Etf is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Evolve with respect to the benefits of owning Evolve Active security.