Bmo Junior Gold Etf Market Value
| ZJG Etf | CAD 96.14 0.21 0.22% |
| Symbol | BMO |
BMO Junior '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 Junior'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 Junior.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in BMO Junior on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding BMO Junior Gold or generate 0.0% return on investment in BMO Junior over 30 days. BMO Junior is related to or competes with BMO Equal, IShares SPTSX, BMO SPTSX, IShares Gold, and BMO Equal. The investment seeks to replicate, net of expenses, the Dow Jones North American Select Junior Gold Index More
BMO Junior 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 Junior'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 Junior Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.27 | |||
| Information Ratio | 0.0071 | |||
| Maximum Drawdown | 13.26 | |||
| Value At Risk | (3.33) | |||
| Potential Upside | 3.37 |
BMO Junior Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Junior's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Junior's standard deviation. In reality, there are many statistical measures that can use BMO Junior historical prices to predict the future BMO Junior's volatility.| Risk Adjusted Performance | 0.0616 | |||
| Jensen Alpha | 0.1001 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.0066 | |||
| Treynor Ratio | 0.4288 |
BMO Junior Gold Backtested Returns
BMO Junior appears to be very steady, given 3 months investment horizon. BMO Junior Gold secures Sharpe Ratio (or Efficiency) of 0.1, which signifies that the etf had a 0.1% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for BMO Junior Gold, which you can use to evaluate the volatility of the entity. Please makes use of BMO Junior's mean deviation of 1.47, and Risk Adjusted Performance of 0.0616 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 0.33, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, BMO Junior's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Junior is expected to be smaller as well.
Auto-correlation | -0.48 |
Modest reverse predictability
BMO Junior Gold has modest reverse predictability. Overlapping area represents the amount of predictability between BMO Junior time series from 1st of November 2024 to 16th of November 2024 and 16th of November 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 BMO Junior Gold price movement. The serial correlation of -0.48 indicates that about 48.0% of current BMO Junior price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.98 |
BMO Junior Gold lagged returns against current returns
Autocorrelation, which is BMO Junior 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 Junior's etf expected returns. We can calculate the autocorrelation of BMO Junior returns to help us make a trade decision. For example, suppose you find that BMO Junior 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 Junior 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 Junior etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Junior etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Junior etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Junior Lagged Returns
When evaluating BMO Junior's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Junior etf have on its future price. BMO Junior 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 Junior autocorrelation shows the relationship between BMO Junior etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Junior Gold.
Regressed Prices |
| Timeline |
Pair Trading with BMO Junior
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 Junior 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 Junior will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.85 | XGD | iShares SPTSX Global | PairCorr |
| 0.97 | ZGD | BMO Equal Weight | PairCorr |
| 0.81 | HEP | Global X Enhanced | PairCorr |
| 0.97 | HGGG | Harvest Global Gold | PairCorr |
Moving against BMO Etf
The ability to find closely correlated positions to BMO Junior 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 Junior 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 Junior - 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 Junior Gold to buy it.
The correlation of BMO Junior 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 Junior moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Junior Gold 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 Junior 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 Junior 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 Junior security.