Ishares Convertible Bond Etf Market Value
| CVD Etf | CAD 17.37 0.08 0.46% |
| Symbol | IShares |
IShares Convertible '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 IShares Convertible's 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 IShares Convertible.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in IShares Convertible on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding iShares Convertible Bond or generate 0.0% return on investment in IShares Convertible over 30 days. IShares Convertible is related to or competes with IShares 1, CI Canadian, IShares Floating, IShares JP, and IShares 1. The investment seeks to replicate, net of expenses, the FTSE TMX Canada Convertible Bondindex More
IShares Convertible 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 IShares Convertible's 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 iShares Convertible Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4914 | |||
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 2.43 | |||
| Value At Risk | (0.80) | |||
| Potential Upside | 0.8102 |
IShares Convertible Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares Convertible's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares Convertible's standard deviation. In reality, there are many statistical measures that can use IShares Convertible historical prices to predict the future IShares Convertible's volatility.| Risk Adjusted Performance | 0.0296 | |||
| Jensen Alpha | (0.0007) | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.19) | |||
| Treynor Ratio | 0.0979 |
iShares Convertible Bond Backtested Returns
As of now, IShares Etf is very steady. iShares Convertible Bond holds Efficiency (Sharpe) Ratio of 0.0708, which attests that the entity had a 0.0708% return per unit of risk over the last 3 months. We have found thirty technical indicators for iShares Convertible Bond, which you can use to evaluate the volatility of the entity. Please check out IShares Convertible's Risk Adjusted Performance of 0.0296, downside deviation of 0.4914, and Market Risk Adjusted Performance of 0.1079 to validate if the risk estimate we provide is consistent with the expected return of 0.0338%. The etf retains a Market Volatility (i.e., Beta) of 0.12, which attests to not very significant fluctuations relative to the market. As returns on the market increase, IShares Convertible's returns are expected to increase less than the market. However, during the bear market, the loss of holding IShares Convertible is expected to be smaller as well.
Auto-correlation | 0.31 |
Below average predictability
iShares Convertible Bond has below average predictability. Overlapping area represents the amount of predictability between IShares Convertible time series from 4th of November 2024 to 19th of November 2024 and 19th 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 iShares Convertible Bond price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current IShares Convertible price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
iShares Convertible Bond lagged returns against current returns
Autocorrelation, which is IShares Convertible 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 IShares Convertible's etf expected returns. We can calculate the autocorrelation of IShares Convertible returns to help us make a trade decision. For example, suppose you find that IShares Convertible 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 |
IShares Convertible 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 IShares Convertible etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares Convertible etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares Convertible etf over time.
Current vs Lagged Prices |
| Timeline |
IShares Convertible Lagged Returns
When evaluating IShares Convertible's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares Convertible etf have on its future price. IShares Convertible 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, IShares Convertible autocorrelation shows the relationship between IShares Convertible etf current value and its past values and can show if there is a momentum factor associated with investing in iShares Convertible Bond.
Regressed Prices |
| Timeline |
Pair Trading with IShares Convertible
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 IShares Convertible 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 IShares Convertible will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to IShares Convertible could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Convertible 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 IShares Convertible - 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 iShares Convertible Bond to buy it.
The correlation of IShares Convertible 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 IShares Convertible moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Convertible Bond 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 IShares Convertible 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.Check out IShares Convertible Correlation, IShares Convertible Volatility and IShares Convertible Alpha and Beta module to complement your research on IShares Convertible. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
IShares Convertible technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.