Bmo Government Bond Etf Market Value
| ZGB Etf | CAD 46.60 0.20 0.43% |
| Symbol | BMO |
BMO Government '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 Government'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 Government.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in BMO Government on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding BMO Government Bond or generate 0.0% return on investment in BMO Government over 30 days. BMO Government is related to or competes with BMO Corporate, BMO Short, BMO Short, BMO Mid, and BMO Long. BMO Government Bond Index ETF seeks to replicate, to the extent possible, the performance of a government bond index, ne... More
BMO Government 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 Government'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 Government Bond upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3618 | |||
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 1.59 | |||
| Value At Risk | (0.61) | |||
| Potential Upside | 0.8525 |
BMO Government Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Government's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Government's standard deviation. In reality, there are many statistical measures that can use BMO Government historical prices to predict the future BMO Government's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.34) | |||
| Treynor Ratio | (0.06) |
BMO Government Bond Backtested Returns
As of now, BMO Etf is very steady. BMO Government Bond secures Sharpe Ratio (or Efficiency) of 0.0037, which signifies that the etf had a 0.0037% return per unit of risk over the last 3 months. We have found thirty technical indicators for BMO Government Bond, which you can use to evaluate the volatility of the entity. Please confirm BMO Government's mean deviation of 0.2572, and Risk Adjusted Performance of (0.01) to double-check if the risk estimate we provide is consistent with the expected return of 0.0014%. The etf shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BMO Government's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Government is expected to be smaller as well.
Auto-correlation | -0.73 |
Almost perfect reverse predictability
BMO Government Bond has almost perfect reverse predictability. Overlapping area represents the amount of predictability between BMO Government time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Government Bond price movement. The serial correlation of -0.73 indicates that around 73.0% of current BMO Government price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.73 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
BMO Government Bond lagged returns against current returns
Autocorrelation, which is BMO Government 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 Government's etf expected returns. We can calculate the autocorrelation of BMO Government returns to help us make a trade decision. For example, suppose you find that BMO Government 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 Government 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 Government etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Government etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Government etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Government Lagged Returns
When evaluating BMO Government's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Government etf have on its future price. BMO Government 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 Government autocorrelation shows the relationship between BMO Government etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Government Bond.
Regressed Prices |
| Timeline |
Pair Trading with BMO Government
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 Government 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 Government will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.96 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.95 | XBB | iShares Canadian Universe | PairCorr |
| 0.94 | ZCPB | BMO Core Plus | PairCorr |
| 0.97 | ZDB | BMO Discount Bond | PairCorr |
| 0.98 | XGB | iShares Canadian Gov | PairCorr |
The ability to find closely correlated positions to BMO Government 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 Government 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 Government - 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 Government Bond to buy it.
The correlation of BMO Government 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 Government moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Government Bond 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 Government 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 Government 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 Government security.