Bmo Short Provincial Etf Market Value
| ZPS Etf | CAD 12.32 0.02 0.16% |
| Symbol | BMO |
BMO Short '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 Short'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 Short.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in BMO Short on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding BMO Short Provincial or generate 0.0% return on investment in BMO Short over 30 days. BMO Short is related to or competes with BMO Mid, and BMO Long. BMO Short Provincial Bond Index ETF seeks to replicate, to the extent possible, the performance of a short term provinci... More
BMO Short 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 Short'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 Short Provincial upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1907 | |||
| Information Ratio | (0.57) | |||
| Maximum Drawdown | 0.8177 | |||
| Value At Risk | (0.16) | |||
| Potential Upside | 0.2461 |
BMO Short Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BMO Short's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BMO Short's standard deviation. In reality, there are many statistical measures that can use BMO Short historical prices to predict the future BMO Short's volatility.| Risk Adjusted Performance | 0.0561 | |||
| Jensen Alpha | 0.0059 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.49) | |||
| Treynor Ratio | 0.2556 |
BMO Short Provincial Backtested Returns
As of now, BMO Etf is very steady. BMO Short Provincial secures Sharpe Ratio (or Efficiency) of 0.0651, which signifies that the etf had a 0.0651% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for BMO Short Provincial, which you can use to evaluate the volatility of the entity. Please confirm BMO Short's mean deviation of 0.1211, and Risk Adjusted Performance of 0.0561 to double-check if the risk estimate we provide is consistent with the expected return of 0.0103%. The etf shows a Beta (market volatility) of 0.0389, which signifies not very significant fluctuations relative to the market. As returns on the market increase, BMO Short's returns are expected to increase less than the market. However, during the bear market, the loss of holding BMO Short is expected to be smaller as well.
Auto-correlation | -0.44 |
Modest reverse predictability
BMO Short Provincial has modest reverse predictability. Overlapping area represents the amount of predictability between BMO Short time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Short Provincial price movement. The serial correlation of -0.44 indicates that just about 44.0% of current BMO Short price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.44 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
BMO Short Provincial lagged returns against current returns
Autocorrelation, which is BMO Short 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 Short's etf expected returns. We can calculate the autocorrelation of BMO Short returns to help us make a trade decision. For example, suppose you find that BMO Short 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 Short 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 Short etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BMO Short etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BMO Short etf over time.
Current vs Lagged Prices |
| Timeline |
BMO Short Lagged Returns
When evaluating BMO Short's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BMO Short etf have on its future price. BMO Short 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 Short autocorrelation shows the relationship between BMO Short etf current value and its past values and can show if there is a momentum factor associated with investing in BMO Short Provincial.
Regressed Prices |
| Timeline |
Pair Trading with BMO Short
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 Short 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 Short will appreciate offsetting losses from the drop in the long position's value.Moving together with BMO Etf
| 0.89 | XSB | iShares Canadian Short | PairCorr |
| 0.62 | ZCS | BMO Short Corporate | PairCorr |
| 0.9 | VSB | Vanguard Canadian Short | PairCorr |
The ability to find closely correlated positions to BMO Short 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 Short 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 Short - 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 Short Provincial to buy it.
The correlation of BMO Short 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 Short moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BMO Short Provincial 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 Short 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 Short 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 Short security.