Bmo Clean Energy Etf Market Value
| ZCLN Etf | CAD 13.52 0.07 0.52% |
| Symbol | BMO |
BMO Clean '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 BMO Clean'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 BMO Clean.
| 09/11/2024 |
| 12/10/2024 |
If you would invest 0.00 in BMO Clean on September 11, 2024 and sell it all today you would earn a total of 0.00 from holding BMO Clean Energy or generate 0.0% return on investment in BMO Clean over 90 days. BMO Clean is related to or competes with Harvest Clean, First Trust, IShares Canadian, PHN Multi, Altagas Cum, and EcoSynthetix. BMO CLEAN is traded on Toronto Stock Exchange in Canada. More
BMO Clean 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 BMO Clean'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 BMO Clean Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 8.58 | |||
| Value At Risk | (1.92) | |||
| Potential Upside | 1.75 |
BMO Clean Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Clean's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Clean's standard deviation. In reality, there are many statistical measures that can use BMO Clean historical prices to predict the future BMO Clean's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | 0.3617 |
BMO Clean Energy Backtested Returns
BMO Clean Energy 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. BMO Clean Energy exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BMO Clean's risk adjusted performance of (0.06), and Mean Deviation of 0.9215 to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of -0.34, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning BMO Clean are expected to decrease at a much lower rate. During the bear market, BMO Clean is likely to outperform the market.
Auto-correlation | 0.32 |
Below average predictability
BMO Clean Energy has below average predictability. Overlapping area represents the amount of predictability between BMO Clean time series from 11th of September 2024 to 26th of October 2024 and 26th of October 2024 to 10th 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 BMO Clean Energy price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current BMO Clean price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.18 |
BMO Clean Energy lagged returns against current returns
Autocorrelation, which is BMO Clean 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 BMO Clean's etf expected returns. We can calculate the autocorrelation of BMO Clean returns to help us make a trade decision. For example, suppose you find that BMO Clean 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 |
BMO Clean 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 BMO Clean etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Clean etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Clean etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Clean Lagged Returns
When evaluating BMO Clean's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Clean etf have on its future price. BMO Clean 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, BMO Clean autocorrelation shows the relationship between BMO Clean etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Clean Energy.
Regressed Prices |
| Timeline |
Pair Trading with BMO Clean
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 BMO Clean 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 BMO Clean will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
Moving against BMO Etf
| 0.89 | ZSP | BMO SP 500 | PairCorr |
| 0.89 | VFV | Vanguard SP 500 | PairCorr |
| 0.88 | ZEB | BMO SPTSX Equal | PairCorr |
| 0.86 | XIU | iShares SPTSX 60 | PairCorr |
| 0.85 | XIC | iShares Core SPTSX | PairCorr |
The ability to find closely correlated positions to BMO Clean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BMO Clean 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 BMO Clean - 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 BMO Clean Energy to buy it.
The correlation of BMO Clean 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 BMO Clean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Clean Energy 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 BMO Clean 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 BMO Etf
BMO Clean financial ratios help investors to determine whether BMO 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 BMO with respect to the benefits of owning BMO Clean security.