Evolve Active Canadian Etf Probability Of Bankruptcy
| DIVS Etf | CAD 16.21 0.04 0.25% |
Evolve |
Evolve Active Canadian ETF odds of distress Analysis
Evolve Active's Probability Of Bankruptcy is a relative measure of the likelihood of financial distress. For stocks, the Probability Of Bankruptcy is the normalized value of Z-Score. For funds and ETFs, it is derived from a multi-factor model developed by Macroaxis. The score is used to predict the probability of a firm or a fund experiencing financial distress within the next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100, indicating the firm's actual probability it will be financially distressed in the next 2 fiscal years.
More About Probability Of Bankruptcy | All Equity Analysis
Probability Of Bankruptcy | = | Normalized | | Z-Score |
Current Evolve Active Probability Of Bankruptcy | Less than 9% |
Most of Evolve Active's fundamental indicators, such as Probability Of Bankruptcy, 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.
Our calculation of Evolve Active probability of bankruptcy is based on Altman Z-Score and Piotroski F-Score, but not limited to these measures. To be applied to a broader range of industries and markets, we use several other techniques to enhance the accuracy of predicting Evolve Active odds of financial distress. These include financial statement analysis, different types of price predictions, earning estimates, analysis consensus, and basic intrinsic valuation. Please use the options below to get a better understanding of different measures that drive the calculation of Evolve Active Canadian financial health.
The Probability of Bankruptcy SHOULD NOT be confused with the actual chance of a company to file for chapter 7, 11, 12, or 13 bankruptcy protection. Macroaxis simply defines Financial Distress as an operational condition where a company is having difficulty meeting its current financial obligations towards its creditors or delivering on the expectations of its investors. Macroaxis derives these conditions daily from both public financial statements as well as analysis of stock prices reacting to market conditions or economic downturns, including short-term and long-term historical volatility. Other factors taken into account include analysis of liquidity, revenue patterns, R&D expenses, and commitments, as well as public headlines and social sentiment.
| Competition |
Based on the latest financial disclosure, Evolve Active Canadian has a Probability Of Bankruptcy of 9.0%. 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 probability of bankruptcy for all Canada etfs is notably lower than that of the firm.
Evolve Probability Of Bankruptcy 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 Probability Of Bankruptcy 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 one of the top ETFs in probability of bankruptcy as compared to similar ETFs.
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.
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.