Bmo Preferred Share Etf Market Value
| ZHP Etf | CAD 18.50 0.25 1.33% |
| Symbol | BMO |
BMO Preferred '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 Preferred'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 Preferred.
| 11/20/2023 |
| 12/14/2024 |
If you would invest 0.00 in BMO Preferred on November 20, 2023 and sell it all today you would earn a total of 0.00 from holding BMO Preferred Share or generate 0.0% return on investment in BMO Preferred over 390 days. BMO Preferred is related to or competes with IShares 1, IShares 1, IShares Core, IShares Global, and IShares Diversified. BMO US Preferred Share Hedged to CAD Index ETF seeks to replicate, to the extent possible, the performance of the Solact... More
BMO Preferred 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 Preferred'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 Preferred Share upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 2.45 | |||
| Value At Risk | (0.90) | |||
| Potential Upside | 0.961 |
BMO Preferred Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Preferred's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Preferred's standard deviation. In reality, there are many statistical measures that can use BMO Preferred historical prices to predict the future BMO Preferred's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.73) |
BMO Preferred Share Backtested Returns
BMO Preferred Share secures Sharpe Ratio (or Efficiency) of -0.0305, which signifies that the etf had a -0.0305% return per unit of risk over the last 3 months. BMO Preferred Share exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BMO Preferred's risk adjusted performance of (0.02), and Mean Deviation of 0.4331 to double-check the risk estimate we provide. The etf shows a Beta (market volatility) of 0.0283, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BMO Preferred's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Preferred is expected to be smaller as well.
Auto-correlation | 0.73 |
Good predictability
BMO Preferred Share has good predictability. Overlapping area represents the amount of predictability between BMO Preferred time series from 20th of November 2023 to 2nd of June 2024 and 2nd of June 2024 to 14th 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 Preferred Share price movement. The serial correlation of 0.73 indicates that around 73.0% of current BMO Preferred price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 0.25 |
BMO Preferred Share lagged returns against current returns
Autocorrelation, which is BMO Preferred 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 Preferred's etf expected returns. We can calculate the autocorrelation of BMO Preferred returns to help us make a trade decision. For example, suppose you find that BMO Preferred 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 Preferred 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 Preferred etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Preferred etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Preferred etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Preferred Lagged Returns
When evaluating BMO Preferred's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Preferred etf have on its future price. BMO Preferred 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 Preferred autocorrelation shows the relationship between BMO Preferred etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Preferred Share.
Regressed Prices |
| Timeline |
Pair Trading with BMO Preferred
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 Preferred 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 Preferred will appreciate offsetting losses from the drop in the long position's value.Moving against BMO Etf
| 0.6 | FBTC | Fidelity Advantage | PairCorr |
| 0.6 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 0.6 | EBIT | Bitcoin ETF CAD | PairCorr |
| 0.5 | PR | Lysander Slater Pref | PairCorr |
| 0.46 | RPF | RBC Canadian Preferred | PairCorr |
The ability to find closely correlated positions to BMO Preferred 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 Preferred 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 Preferred - 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 Preferred Share to buy it.
The correlation of BMO Preferred 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 Preferred moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Preferred Share 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 Preferred 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 Preferred 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 Preferred security.