Guardian Canadian Focused Etf Beta
| GCFE Etf | 30.35 0.18 0.60% |
Guardian Canadian Focused fundamentals help investors to digest information that contributes to Guardian Canadian's financial success or failures. It also enables traders to predict the movement of Guardian Etf. The fundamental analysis module provides a way to measure Guardian Canadian'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 Guardian Canadian etf.
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Guardian Canadian Focused ETF Beta Analysis
Guardian Canadian'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.
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, Guardian Canadian Focused has a Beta of 0.0. This indicator is about the same for the average (which is currently at 0.0) family and about the same as Canadian Equity (which currently averages 0.0) category. This indicator is about the same for all Canada etfs average (which is currently at 0.0).
Guardian Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Guardian Canadian'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 Guardian Canadian could also be used in its relative valuation, which is a method of valuing Guardian Canadian by comparing valuation metrics of similar companies.Guardian Canadian is currently under evaluation in beta as compared to similar ETFs.
About Guardian Canadian Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Guardian Canadian Focused's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Guardian Canadian using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Guardian Canadian Focused 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 Guardian Canadian
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 Guardian Canadian 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 Guardian Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Guardian Etf
| 0.94 | XIU | iShares SPTSX 60 | PairCorr |
| 0.94 | XIC | iShares Core SPTSX | PairCorr |
| 0.94 | ZCN | BMO SPTSX Capped | PairCorr |
| 0.94 | VCN | Vanguard FTSE Canada | PairCorr |
| 0.94 | HXT | Global X SPTSX | PairCorr |
Moving against Guardian Etf
The ability to find closely correlated positions to Guardian Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Guardian Canadian 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 Guardian Canadian - 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 Guardian Canadian Focused to buy it.
The correlation of Guardian Canadian 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 Guardian Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Guardian Canadian Focused 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 Guardian Canadian 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 Guardian Etf
Guardian Canadian financial ratios help investors to determine whether Guardian 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 Guardian with respect to the benefits of owning Guardian Canadian security.