Guardian Canadian Bond Etf Market Value
| GCBD Etf | 18.72 0.06 0.32% |
| Symbol | Guardian |
Guardian Canadian '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 Guardian Canadian'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 Guardian Canadian.
| 05/16/2024 |
| 12/12/2024 |
If you would invest 0.00 in Guardian Canadian on May 16, 2024 and sell it all today you would earn a total of 0.00 from holding Guardian Canadian Bond or generate 0.0% return on investment in Guardian Canadian over 210 days. Guardian Canadian is related to or competes with IShares Core, IShares Core, IShares Canadian, IShares Canadian, and IShares Canadian. Guardian Canadian is entity of Canada. It is traded as Etf on TO exchange. More
Guardian Canadian 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 Guardian Canadian'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 Guardian Canadian Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4061 | |||
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 1.84 | |||
| Value At Risk | (0.54) | |||
| Potential Upside | 0.7654 |
Guardian Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Guardian Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Guardian Canadian's standard deviation. In reality, there are many statistical measures that can use Guardian Canadian historical prices to predict the future Guardian Canadian's volatility.| Risk Adjusted Performance | 0.0302 | |||
| Jensen Alpha | 0.0093 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.26) | |||
| Treynor Ratio | 1.23 |
Guardian Canadian Bond Backtested Returns
As of now, Guardian Etf is very steady. Guardian Canadian Bond holds Efficiency (Sharpe) Ratio of 0.0429, which attests that the entity had a 0.0429% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Guardian Canadian Bond, which you can use to evaluate the volatility of the entity. Please check out Guardian Canadian's risk adjusted performance of 0.0302, and Market Risk Adjusted Performance of 1.24 to validate if the risk estimate we provide is consistent with the expected return of 0.016%. The etf retains a Market Volatility (i.e., Beta) of 0.0083, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Guardian Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Guardian Canadian is expected to be smaller as well.
Auto-correlation | 0.24 |
Weak predictability
Guardian Canadian Bond has weak predictability. Overlapping area represents the amount of predictability between Guardian Canadian time series from 16th of May 2024 to 29th of August 2024 and 29th of August 2024 to 12th 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 Guardian Canadian Bond price movement. The serial correlation of 0.24 indicates that over 24.0% of current Guardian Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Guardian Canadian Bond lagged returns against current returns
Autocorrelation, which is Guardian Canadian 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 Guardian Canadian's etf expected returns. We can calculate the autocorrelation of Guardian Canadian returns to help us make a trade decision. For example, suppose you find that Guardian Canadian 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 |
Guardian Canadian 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 Guardian Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Guardian Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Guardian Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
Guardian Canadian Lagged Returns
When evaluating Guardian Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Guardian Canadian etf have on its future price. Guardian Canadian 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, Guardian Canadian autocorrelation shows the relationship between Guardian Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in Guardian Canadian Bond.
Regressed Prices |
| Timeline |
Pair Trading with Guardian Canadian
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 Guardian Canadian 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 Guardian Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Guardian Etf
| 0.88 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.87 | XBB | iShares Canadian Universe | PairCorr |
| 0.87 | ZCPB | BMO Core Plus | PairCorr |
| 0.88 | ZDB | BMO Discount Bond | PairCorr |
| 0.87 | XGB | iShares Canadian Gov | PairCorr |
The ability to find closely correlated positions to Guardian Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardian Canadian 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 Guardian Canadian - 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 Guardian Canadian Bond to buy it.
The correlation of Guardian Canadian 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 Guardian Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian Canadian 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 Guardian Canadian 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 Guardian Etf
Guardian Canadian financial ratios help investors to determine whether Guardian 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 Guardian with respect to the benefits of owning Guardian Canadian security.