Mackenzie Canadian Ultra Etf Market Value
| QASH Etf | 50.44 0.02 0.04% |
| Symbol | Mackenzie |
Mackenzie 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 Mackenzie 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 Mackenzie Canadian.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Mackenzie Canadian on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding Mackenzie Canadian Ultra or generate 0.0% return on investment in Mackenzie Canadian over 390 days.
Mackenzie 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 Mackenzie 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 Mackenzie Canadian Ultra upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (3.56) | |||
| Maximum Drawdown | 0.12 | |||
| Value At Risk | (0.02) | |||
| Potential Upside | 0.0601 |
Mackenzie Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mackenzie Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mackenzie Canadian's standard deviation. In reality, there are many statistical measures that can use Mackenzie Canadian historical prices to predict the future Mackenzie Canadian's volatility.| Risk Adjusted Performance | 0.2528 | |||
| Jensen Alpha | 0.0086 | |||
| Total Risk Alpha | 0.0051 | |||
| Treynor Ratio | 5.47 |
Mackenzie Canadian Ultra Backtested Returns
As of now, Mackenzie Etf is very steady. Mackenzie Canadian Ultra has Sharpe Ratio of 0.73, which conveys that the entity had a 0.73% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for Mackenzie Canadian, which you can use to evaluate the volatility of the etf. Please verify Mackenzie Canadian's Mean Deviation of 0.0189, risk adjusted performance of 0.2528, and Standard Deviation of 0.0262 to check out if the risk estimate we provide is consistent with the expected return of 0.0193%. The etf secures a Beta (Market Risk) of 0.0016, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mackenzie Canadian's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mackenzie Canadian is expected to be smaller as well.
Auto-correlation | 0.99 |
Perfect predictability
Mackenzie Canadian Ultra has perfect predictability. Overlapping area represents the amount of predictability between Mackenzie Canadian time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th 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 Mackenzie Canadian Ultra price movement. The serial correlation of 0.99 indicates that 99.0% of current Mackenzie Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.99 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.16 |
Mackenzie Canadian Ultra lagged returns against current returns
Autocorrelation, which is Mackenzie 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 Mackenzie Canadian's etf expected returns. We can calculate the autocorrelation of Mackenzie Canadian returns to help us make a trade decision. For example, suppose you find that Mackenzie 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 |
Mackenzie 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 Mackenzie Canadian etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mackenzie Canadian etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mackenzie Canadian etf over time.
Current vs Lagged Prices |
| Timeline |
Mackenzie Canadian Lagged Returns
When evaluating Mackenzie Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mackenzie Canadian etf have on its future price. Mackenzie 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, Mackenzie Canadian autocorrelation shows the relationship between Mackenzie Canadian etf current value and its past values and can show if there is a momentum factor associated with investing in Mackenzie Canadian Ultra.
Regressed Prices |
| Timeline |
Pair Trading with Mackenzie 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 Mackenzie 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 Mackenzie Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Mackenzie Etf
The ability to find closely correlated positions to Mackenzie 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 Mackenzie 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 Mackenzie 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 Mackenzie Canadian Ultra to buy it.
The correlation of Mackenzie 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 Mackenzie Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Canadian Ultra 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 Mackenzie 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.