Harvest Brand Leaders Etf Market Value
| HBF Etf | CAD 10.20 0.05 0.49% |
| Symbol | Harvest |
Harvest Brand '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 Harvest Brand'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 Harvest Brand.
| 05/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Harvest Brand on May 6, 2024 and sell it all today you would earn a total of 0.00 from holding Harvest Brand Leaders or generate 0.0% return on investment in Harvest Brand over 210 days. Harvest Brand is related to or competes with Harvest Tech, Harvest Healthcare, Harvest Equal, Energy Leaders, and Harvest Bank. The ETFs investment objective is to provide holders of Units with monthly cash distributions the opportunity for capital... More
Harvest Brand 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 Harvest Brand'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 Harvest Brand Leaders upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5247 | |||
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 3.29 | |||
| Value At Risk | (0.80) | |||
| Potential Upside | 0.8147 |
Harvest Brand Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harvest Brand's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harvest Brand's standard deviation. In reality, there are many statistical measures that can use Harvest Brand historical prices to predict the future Harvest Brand's volatility.| Risk Adjusted Performance | 0.0737 | |||
| Jensen Alpha | 0.0031 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.15) | |||
| Treynor Ratio | 0.1364 |
Harvest Brand Leaders Backtested Returns
As of now, Harvest Etf is very steady. Harvest Brand Leaders holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Harvest Brand Leaders, which you can use to evaluate the volatility of the entity. Please check out Harvest Brand's Downside Deviation of 0.5247, risk adjusted performance of 0.0737, and Market Risk Adjusted Performance of 0.1464 to validate if the risk estimate we provide is consistent with the expected return of 0.0625%. The etf retains a Market Volatility (i.e., Beta) of 0.35, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Harvest Brand's returns are expected to increase less than the market. However, during the bear market, the loss of holding Harvest Brand is expected to be smaller as well.
Auto-correlation | 0.34 |
Below average predictability
Harvest Brand Leaders has below average predictability. Overlapping area represents the amount of predictability between Harvest Brand time series from 6th of May 2024 to 19th of August 2024 and 19th of August 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 Harvest Brand Leaders price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current Harvest Brand price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Harvest Brand Leaders lagged returns against current returns
Autocorrelation, which is Harvest Brand 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 Harvest Brand's etf expected returns. We can calculate the autocorrelation of Harvest Brand returns to help us make a trade decision. For example, suppose you find that Harvest Brand 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 |
Harvest Brand 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 Harvest Brand etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harvest Brand etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harvest Brand etf over time.
Current vs Lagged Prices |
| Timeline |
Harvest Brand Lagged Returns
When evaluating Harvest Brand's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harvest Brand etf have on its future price. Harvest Brand 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, Harvest Brand autocorrelation shows the relationship between Harvest Brand etf current value and its past values and can show if there is a momentum factor associated with investing in Harvest Brand Leaders.
Regressed Prices |
| Timeline |
Pair Trading with Harvest Brand
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 Harvest Brand 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 Harvest Brand will appreciate offsetting losses from the drop in the long position's value.Moving together with Harvest Etf
| 0.95 | XSP | iShares Core SP | PairCorr |
| 0.89 | ZSP | BMO SP 500 | PairCorr |
| 0.89 | VFV | Vanguard SP 500 | PairCorr |
| 0.89 | HXS | Global X SP | PairCorr |
| 0.89 | XUS | iShares Core SP | PairCorr |
The ability to find closely correlated positions to Harvest Brand could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Harvest Brand 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 Harvest Brand - 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 Harvest Brand Leaders to buy it.
The correlation of Harvest Brand 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 Harvest Brand moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Harvest Brand Leaders 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 Harvest Brand 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 Harvest Etf
Harvest Brand financial ratios help investors to determine whether Harvest 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 Harvest with respect to the benefits of owning Harvest Brand security.