Evolve Banks Enhanced Etf Market Value
| CALL Etf | CAD 14.38 0.11 0.76% |
| Symbol | Evolve |
Evolve Banks 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Evolve Banks' etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Evolve Banks.
| 10/05/2024 |
| 12/04/2024 |
If you would invest 0.00 in Evolve Banks on October 5, 2024 and sell it all today you would earn a total of 0.00 from holding Evolve Banks Enhanced or generate 0.0% return on investment in Evolve Banks over 60 days. Evolve Banks is related to or competes with First Asset, CI Gold, Harvest Equal, First Asset, and Harvest Healthcare. CALL seeks to replicate, to the extent reasonably possible before fees and expenses, the performance of the Solactive Eq... More
Evolve Banks Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Evolve Banks' etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Evolve Banks Enhanced upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.09 | |||
| Information Ratio | 0.0353 | |||
| Maximum Drawdown | 12.11 | |||
| Value At Risk | (1.86) | |||
| Potential Upside | 2.12 |
Evolve Banks Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evolve Banks' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evolve Banks' standard deviation. In reality, there are many statistical measures that can use Evolve Banks historical prices to predict the future Evolve Banks' volatility.| Risk Adjusted Performance | 0.0846 | |||
| Jensen Alpha | 0.1089 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0537 | |||
| Treynor Ratio | 0.3161 |
Evolve Banks Enhanced Backtested Returns
Evolve Banks appears to be not too volatile, given 3 months investment horizon. Evolve Banks Enhanced secures Sharpe Ratio (or Efficiency) of 0.12, which denotes the etf had a 0.12% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Evolve Banks Enhanced, which you can use to evaluate the volatility of the entity. Please utilize Evolve Banks' Downside Deviation of 1.09, coefficient of variation of 962.61, and Mean Deviation of 1.03 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.51, which means possible diversification benefits within a given portfolio. As returns on the market increase, Evolve Banks' returns are expected to increase less than the market. However, during the bear market, the loss of holding Evolve Banks is expected to be smaller as well.
Auto-correlation | 0.66 |
Good predictability
Evolve Banks Enhanced has good predictability. Overlapping area represents the amount of predictability between Evolve Banks time series from 5th of October 2024 to 4th of November 2024 and 4th of November 2024 to 4th of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Evolve Banks Enhanced price movement. The serial correlation of 0.66 indicates that around 66.0% of current Evolve Banks price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Evolve Banks Enhanced lagged returns against current returns
Autocorrelation, which is Evolve Banks etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Evolve Banks' etf expected returns. We can calculate the autocorrelation of Evolve Banks returns to help us make a trade decision. For example, suppose you find that Evolve Banks has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Evolve Banks regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Evolve Banks etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evolve Banks etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evolve Banks etf over time.
Current vs Lagged Prices |
| Timeline |
Evolve Banks Lagged Returns
When evaluating Evolve Banks' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evolve Banks etf have on its future price. Evolve Banks autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Evolve Banks autocorrelation shows the relationship between Evolve Banks etf current value and its past values and can show if there is a momentum factor associated with investing in Evolve Banks Enhanced.
Regressed Prices |
| Timeline |
Pair Trading with Evolve Banks
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 Banks 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 Banks will appreciate offsetting losses from the drop in the long position's value.Moving together with Evolve Etf
| 0.87 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.9 | XFN | iShares SPTSX Capped | PairCorr |
| 0.99 | ZBK | BMO Equal Weight | PairCorr |
| 0.81 | HCA | Hamilton Canadian Bank | PairCorr |
| 1.0 | ZUB | BMO Equal Weight | PairCorr |
Moving against Evolve Etf
The ability to find closely correlated positions to Evolve Banks 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 Banks 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 Banks - 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 Banks Enhanced to buy it.
The correlation of Evolve Banks 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 Banks moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve Banks Enhanced 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 Banks 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 Banks 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 Banks security.