Evolve Innovation Index Etf Fundamentals
| EDGE Etf | CAD 38.83 0.06 0.15% |
Evolve Innovation Index fundamentals help investors to digest information that contributes to Evolve Innovation's financial success or failures. It also enables traders to predict the movement of Evolve Etf. The fundamental analysis module provides a way to measure Evolve Innovation's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Evolve Innovation etf.
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Evolve Innovation Index ETF Beta Analysis
Evolve Innovation's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Evolve Innovation Beta | 1.42 |
Most of Evolve Innovation's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Evolve Innovation Index is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
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In accordance with the recently published financial statements, Evolve Innovation Index has a Beta of 1.42. This is much higher than that of the Evolve Funds Group Inc. family and significantly higher than that of the Global Equity category. The beta for all Canada etfs is notably lower than that of the firm.
Evolve Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Evolve Innovation's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Evolve Innovation could also be used in its relative valuation, which is a method of valuing Evolve Innovation by comparing valuation metrics of similar companies.Evolve Innovation is one of the top ETFs in beta as compared to similar ETFs.
Fund Asset Allocation for Evolve Innovation
The fund invests 50.11% of asset under management in tradable equity instruments, with the rest of investments concentrated in various types of exotic instruments.Asset allocation divides Evolve Innovation's investment portfolio among different asset categories to balance risk and reward by investing in a diversified mix of instruments that align with the investor's goals, risk tolerance, and time horizon. Mutual funds, which pool money from multiple investors to buy a diversified portfolio of securities, use asset allocation strategies to manage the risk and return of their portfolios.
Mutual funds allocate their assets by investing in a diversified portfolio of securities, such as stocks, bonds, cryptocurrencies and cash. The specific mix of these securities is determined by the fund's investment objective and strategy. For example, a stock mutual fund may invest primarily in equities, while a bond mutual fund may invest mainly in fixed-income securities. The fund's manager, responsible for making investment decisions, will buy and sell securities in the fund's portfolio as market conditions and the fund's objectives change.
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Evolve Innovation will likely underperform.
Evolve Fundamentals
| Beta | 1.42 | |||
| Total Asset | 9.65 M | |||
| One Year Return | 25.30 % | |||
| Three Year Return | (3.10) % | |||
| Five Year Return | 11.80 % | |||
| Net Asset | 9.65 M | |||
| Equity Positions Weight | 50.11 % |
About Evolve Innovation Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Evolve Innovation Index's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Evolve Innovation using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Evolve Innovation Index based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.The Evolve ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of the Solactive Global Innovation Index, or any successor thereto . EVOLVE INNOVATION is traded on Toronto Stock Exchange in Canada.
Pair Trading with Evolve Innovation
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 Evolve Innovation 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 Evolve Innovation will appreciate offsetting losses from the drop in the long position's value.Moving together with Evolve Etf
| 0.94 | XEQT | iShares Core Equity | PairCorr |
| 0.94 | XAW | iShares Core MSCI | PairCorr |
| 0.95 | DXG | Dynamic Active Global | PairCorr |
| 0.95 | VXC | Vanguard FTSE Global | PairCorr |
| 0.95 | XWD | iShares MSCI World | PairCorr |
Moving against Evolve Etf
The ability to find closely correlated positions to Evolve Innovation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Evolve Innovation 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 Evolve Innovation - 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 Evolve Innovation Index to buy it.
The correlation of Evolve Innovation 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 Evolve Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolve Innovation Index 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 Evolve Innovation 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 Evolve Etf
Evolve Innovation financial ratios help investors to determine whether Evolve 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 Evolve with respect to the benefits of owning Evolve Innovation security.