Fidelity Advantage Bitcoin Etf One Year Return
| FBTC Etf | 45.98 0.33 0.72% |
Fidelity Advantage Bitcoin fundamentals help investors to digest information that contributes to Fidelity Advantage's financial success or failures. It also enables traders to predict the movement of Fidelity Etf. The fundamental analysis module provides a way to measure Fidelity Advantage'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 Fidelity Advantage etf.
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Fidelity Advantage Bitcoin ETF One Year Return Analysis
Fidelity Advantage's One Year Return is the annualized return generated from holding a security for exactly 12 months. The measure is considered to be good short-term measures of fund performance. In other words, it represents the capital appreciation of fund investments over the last year. However when the market is volatile such as in recent years, One Year Return measure can be misleading.
More About One Year Return | All Equity Analysis
One Year Return | = | (Mean of Monthly Returns - 1) | X | 100% |
Current Fidelity Advantage One Year Return | 167.30 % |
Most of Fidelity Advantage's fundamental indicators, such as One Year Return, 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, Fidelity Advantage Bitcoin is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Although One Year Fund Return indicator can give a sense of overall fund short-term potential, it is recommended to look at mid and long term return measure before selecting a particular fund or ETF. The great way to validate fund short-term performance is to compare it with other similar funds or ETFs for the same 12 months interval.
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Based on the recorded statements, Fidelity Advantage Bitcoin has an One Year Return of 167%. This is much higher than that of the family and significantly higher than that of the Alternative Other category. The one year return for all Canada etfs is notably lower than that of the firm.
Fidelity One Year Return Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Fidelity Advantage's direct or indirect competition against its One Year Return to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Fidelity Advantage could also be used in its relative valuation, which is a method of valuing Fidelity Advantage by comparing valuation metrics of similar companies.Fidelity Advantage is rated # 3 ETF in one year return as compared to similar ETFs.
About Fidelity Advantage Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Fidelity Advantage Bitcoin's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fidelity Advantage using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fidelity Advantage Bitcoin 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.
Pair Trading with Fidelity Advantage
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 Fidelity Advantage 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 Fidelity Advantage will appreciate offsetting losses from the drop in the long position's value.Moving together with Fidelity Etf
| 1.0 | BTCQ | 3iQ Bitcoin ETF | PairCorr |
| 1.0 | BTCC | Purpose Bitcoin CAD | PairCorr |
| 0.94 | ETHQ | 3iQ CoinShares Ether | PairCorr |
Moving against Fidelity Etf
| 0.99 | BITI | BetaPro Inverse Bitcoin | PairCorr |
| 0.59 | TCLB | TD Canadian Long | PairCorr |
| 0.44 | HUV | BetaPro SP 500 | PairCorr |
| 0.36 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.35 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to Fidelity Advantage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fidelity Advantage 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 Fidelity Advantage - 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 Fidelity Advantage Bitcoin to buy it.
The correlation of Fidelity Advantage 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 Fidelity Advantage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fidelity Advantage 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 Fidelity Advantage 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 Fidelity Etf
Fidelity Advantage financial ratios help investors to determine whether Fidelity 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 Fidelity with respect to the benefits of owning Fidelity Advantage security.