Betapro Gold Bullion Etf Market Value
| HBD Etf | CAD 26.08 0.02 0.08% |
| Symbol | BetaPro |
BetaPro Gold '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 BetaPro Gold'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 BetaPro Gold.
| 09/03/2024 |
| 12/02/2024 |
If you would invest 0.00 in BetaPro Gold on September 3, 2024 and sell it all today you would earn a total of 0.00 from holding BetaPro Gold Bullion or generate 0.0% return on investment in BetaPro Gold over 90 days. BetaPro Gold is related to or competes with BetaPro Gold, BetaPro SP, BetaPro SPTSX, BetaPro Silver, and BetaPro Canadian. HBD seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction co... More
BetaPro Gold 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 BetaPro Gold'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 BetaPro Gold Bullion upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.8 | |||
| Information Ratio | 0.1159 | |||
| Maximum Drawdown | 9.37 | |||
| Value At Risk | (3.08) | |||
| Potential Upside | 5.06 |
BetaPro Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BetaPro Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BetaPro Gold's standard deviation. In reality, there are many statistical measures that can use BetaPro Gold historical prices to predict the future BetaPro Gold's volatility.| Risk Adjusted Performance | 0.1013 | |||
| Jensen Alpha | 4.85 | |||
| Total Risk Alpha | (1.74) | |||
| Sortino Ratio | 2.36 | |||
| Treynor Ratio | (1.18) |
BetaPro Gold Bullion Backtested Returns
BetaPro Gold is risky given 3 months investment horizon. BetaPro Gold Bullion secures Sharpe Ratio (or Efficiency) of 0.12, which signifies that the etf had a 0.12% return per unit of risk over the last 3 months. We were able to break down twenty-eight different technical indicators, which can help you to evaluate if expected returns of 4.5% are justified by taking the suggested risk. Use BetaPro Gold Coefficient Of Variation of 835.5, risk adjusted performance of 0.1013, and Mean Deviation of 9.0 to evaluate company specific risk that cannot be diversified away. The etf shows a Beta (market volatility) of -3.72, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning BetaPro Gold are expected to decrease by larger amounts. On the other hand, during market turmoil, BetaPro Gold is expected to outperform it.
Auto-correlation | -0.39 |
Poor reverse predictability
BetaPro Gold Bullion has poor reverse predictability. Overlapping area represents the amount of predictability between BetaPro Gold time series from 3rd of September 2024 to 18th of October 2024 and 18th of October 2024 to 2nd 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 BetaPro Gold Bullion price movement. The serial correlation of -0.39 indicates that just about 39.0% of current BetaPro Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 33.15 |
BetaPro Gold Bullion lagged returns against current returns
Autocorrelation, which is BetaPro Gold 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 BetaPro Gold's etf expected returns. We can calculate the autocorrelation of BetaPro Gold returns to help us make a trade decision. For example, suppose you find that BetaPro Gold 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 |
BetaPro Gold 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 BetaPro Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BetaPro Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BetaPro Gold etf over time.
Current vs Lagged Prices |
| Timeline |
BetaPro Gold Lagged Returns
When evaluating BetaPro Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BetaPro Gold etf have on its future price. BetaPro Gold 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, BetaPro Gold autocorrelation shows the relationship between BetaPro Gold etf current value and its past values and can show if there is a momentum factor associated with investing in BetaPro Gold Bullion.
Regressed Prices |
| Timeline |
Pair Trading with BetaPro Gold
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 BetaPro Gold 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 BetaPro Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with BetaPro Etf
The ability to find closely correlated positions to BetaPro Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BetaPro Gold 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 BetaPro Gold - 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 BetaPro Gold Bullion to buy it.
The correlation of BetaPro Gold 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 BetaPro Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro Gold Bullion 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 BetaPro Gold 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 BetaPro Etf
BetaPro Gold financial ratios help investors to determine whether BetaPro 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 BetaPro with respect to the benefits of owning BetaPro Gold security.