Evolve Active Canadian Etf Market Value
| DIVS Etf | CAD 16.21 0.01 0.06% |
| Symbol | Evolve |
Evolve Active '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 Active'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 Evolve Active.
| 07/01/2024 |
| 12/28/2024 |
If you would invest 0.00 in Evolve Active on July 1, 2024 and sell it all today you would earn a total of 0.00 from holding Evolve Active Canadian or generate 0.0% return on investment in Evolve Active over 180 days. Evolve Active is related to or competes with IShares SPTSX, Global X, and CI Preferred. The investment objective of CAPS is to seek to provide holders of Units with long-term capital appreciation by investing... More
Evolve Active 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 Active'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 Evolve Active Canadian upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3228 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 1.25 | |||
| Value At Risk | (0.44) | |||
| Potential Upside | 0.44 |
Evolve Active Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evolve Active's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evolve Active's standard deviation. In reality, there are many statistical measures that can use Evolve Active historical prices to predict the future Evolve Active's volatility.| Risk Adjusted Performance | 0.0642 | |||
| Jensen Alpha | 0.0197 | |||
| Total Risk Alpha | 0.0105 | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.19) |
Evolve Active Canadian Backtested Returns
As of now, Evolve Etf is very steady. Evolve Active Canadian secures Sharpe Ratio (or Efficiency) of 0.097, which denotes the etf had a 0.097% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Evolve Active Canadian, which you can use to evaluate the volatility of the entity. Please confirm Evolve Active's Coefficient Of Variation of 938.74, downside deviation of 0.3228, and Mean Deviation of 0.1934 to check if the risk estimate we provide is consistent with the expected return of 0.0254%. The etf shows a Beta (market volatility) of -0.0911, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Evolve Active are expected to decrease at a much lower rate. During the bear market, Evolve Active is likely to outperform the market.
Auto-correlation | 0.60 |
Good predictability
Evolve Active Canadian has good predictability. Overlapping area represents the amount of predictability between Evolve Active time series from 1st of July 2024 to 29th of September 2024 and 29th of September 2024 to 28th 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 Active Canadian price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current Evolve Active price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Evolve Active Canadian lagged returns against current returns
Autocorrelation, which is Evolve Active 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 Active's etf expected returns. We can calculate the autocorrelation of Evolve Active returns to help us make a trade decision. For example, suppose you find that Evolve Active 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 Active 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 Active etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evolve Active etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evolve Active etf over time.
Current vs Lagged Prices |
| Timeline |
Evolve Active Lagged Returns
When evaluating Evolve Active's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evolve Active etf have on its future price. Evolve Active 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 Active autocorrelation shows the relationship between Evolve Active etf current value and its past values and can show if there is a momentum factor associated with investing in Evolve Active Canadian.
Regressed Prices |
| Timeline |
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.