Evolve Nasdaq Technology Etf Market Value
| QQQT-B Etf | 32.42 0.38 1.19% |
| Symbol | Evolve |
Please note, there is a significant difference between Evolve NASDAQ's value and its price as these two are different measures arrived at by different means. Investors typically determine if Evolve NASDAQ is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Evolve NASDAQ's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Evolve NASDAQ '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 NASDAQ'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 NASDAQ.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Evolve NASDAQ on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Evolve NASDAQ Technology or generate 0.0% return on investment in Evolve NASDAQ over 180 days. Evolve NASDAQ is related to or competes with Brompton Global, Global Healthcare, Tech Leaders, and Brompton North. Evolve NASDAQ is entity of Canada. It is traded as Etf on TO exchange. More
Evolve NASDAQ 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 NASDAQ'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 NASDAQ Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.63 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 8.32 | |||
| Value At Risk | (2.62) | |||
| Potential Upside | 2.12 |
Evolve NASDAQ Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evolve NASDAQ's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evolve NASDAQ's standard deviation. In reality, there are many statistical measures that can use Evolve NASDAQ historical prices to predict the future Evolve NASDAQ's volatility.| Risk Adjusted Performance | 0.0711 | |||
| Jensen Alpha | 0.0763 | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.39 |
Evolve NASDAQ Technology Backtested Returns
At this point, Evolve NASDAQ is very steady. Evolve NASDAQ Technology secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the etf had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Evolve NASDAQ Technology, which you can use to evaluate the volatility of the entity. Please confirm Evolve NASDAQ's Coefficient Of Variation of 1149.67, mean deviation of 0.8681, and Downside Deviation of 1.63 to check if the risk estimate we provide is consistent with the expected return of 0.18%. The etf shows a Beta (market volatility) of 0.29, which means not very significant fluctuations relative to the market. As returns on the market increase, Evolve NASDAQ's returns are expected to increase less than the market. However, during the bear market, the loss of holding Evolve NASDAQ is expected to be smaller as well.
Auto-correlation | -0.24 |
Weak reverse predictability
Evolve NASDAQ Technology has weak reverse predictability. Overlapping area represents the amount of predictability between Evolve NASDAQ time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 2024 to 1st 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 NASDAQ Technology price movement. The serial correlation of -0.24 indicates that over 24.0% of current Evolve NASDAQ price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.24 | |
| Spearman Rank Test | -0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 1.58 |
Evolve NASDAQ Technology lagged returns against current returns
Autocorrelation, which is Evolve NASDAQ 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 NASDAQ's etf expected returns. We can calculate the autocorrelation of Evolve NASDAQ returns to help us make a trade decision. For example, suppose you find that Evolve NASDAQ 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 NASDAQ 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 NASDAQ etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evolve NASDAQ etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evolve NASDAQ etf over time.
Current vs Lagged Prices |
| Timeline |
Evolve NASDAQ Lagged Returns
When evaluating Evolve NASDAQ's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evolve NASDAQ etf have on its future price. Evolve NASDAQ 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 NASDAQ autocorrelation shows the relationship between Evolve NASDAQ etf current value and its past values and can show if there is a momentum factor associated with investing in Evolve NASDAQ Technology.
Regressed Prices |
| Timeline |
Pair Trading with Evolve NASDAQ
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 NASDAQ 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 NASDAQ will appreciate offsetting losses from the drop in the long position's value.Moving together with Evolve Etf
Moving against Evolve Etf
| 0.69 | TCLB | TD Canadian Long | PairCorr |
| 0.52 | VGV | Vanguard Canadian | PairCorr |
| 0.45 | VLB | Vanguard Canadian Long | PairCorr |
| 0.42 | XLB | iShares Core Canadian | PairCorr |
| 0.41 | HBB | Global X Canadian | PairCorr |
The ability to find closely correlated positions to Evolve NASDAQ 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 NASDAQ 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 NASDAQ - 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 NASDAQ Technology to buy it.
The correlation of Evolve NASDAQ 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 NASDAQ moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve NASDAQ Technology 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 NASDAQ 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 NASDAQ 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 NASDAQ security.