Mackenzie Core Plus Etf Probability Of Bankruptcy
| MKB Etf | CAD 19.10 0.02 0.10% |
Mackenzie |
Mackenzie Core Plus ETF odds of distress Analysis
Mackenzie Core's Probability Of Bankruptcy is a relative measure of the likelihood of financial distress. For stocks, the Probability Of Bankruptcy is the normalized value of Z-Score. For funds and ETFs, it is derived from a multi-factor model developed by Macroaxis. The score is used to predict the probability of a firm or a fund experiencing financial distress within the next 24 months. Unlike Z-Score, Probability Of Bankruptcy is the value between 0 and 100, indicating the firm's actual probability it will be financially distressed in the next 2 fiscal years.
More About Probability Of Bankruptcy | All Equity Analysis
Probability Of Bankruptcy | = | Normalized | | Z-Score |
Current Mackenzie Core Probability Of Bankruptcy | Less than 9% |
Most of Mackenzie Core's fundamental indicators, such as Probability Of Bankruptcy, 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, Mackenzie Core Plus is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Our calculation of Mackenzie Core probability of bankruptcy is based on Altman Z-Score and Piotroski F-Score, but not limited to these measures. To be applied to a broader range of industries and markets, we use several other techniques to enhance the accuracy of predicting Mackenzie Core odds of financial distress. These include financial statement analysis, different types of price predictions, earning estimates, analysis consensus, and basic intrinsic valuation. Please use the options below to get a better understanding of different measures that drive the calculation of Mackenzie Core Plus financial health.
The Probability of Bankruptcy SHOULD NOT be confused with the actual chance of a company to file for chapter 7, 11, 12, or 13 bankruptcy protection. Macroaxis simply defines Financial Distress as an operational condition where a company is having difficulty meeting its current financial obligations towards its creditors or delivering on the expectations of its investors. Macroaxis derives these conditions daily from both public financial statements as well as analysis of stock prices reacting to market conditions or economic downturns, including short-term and long-term historical volatility. Other factors taken into account include analysis of liquidity, revenue patterns, R&D expenses, and commitments, as well as public headlines and social sentiment.
| Competition |
Based on the latest financial disclosure, Mackenzie Core Plus has a Probability Of Bankruptcy of 9.0%. This is much higher than that of the Mackenzie Financial Corporation family and significantly higher than that of the Canadian Fixed Income category. The probability of bankruptcy for all Canada etfs is notably lower than that of the firm.
Mackenzie Probability Of Bankruptcy Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Mackenzie Core's direct or indirect competition against its Probability Of Bankruptcy to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Mackenzie Core could also be used in its relative valuation, which is a method of valuing Mackenzie Core by comparing valuation metrics of similar companies.Mackenzie Core is currently under evaluation in probability of bankruptcy as compared to similar ETFs.
Mackenzie Fundamentals
| Beta | 0.96 | |||
| Total Asset | 160.91 M | |||
| Annual Yield | 0.02 % | |||
| One Year Return | 8.80 % | |||
| Three Year Return | (0.10) % | |||
| Five Year Return | 0.90 % | |||
| Net Asset | 160.91 M | |||
| Last Dividend Paid | 0.0333 | |||
| Equity Positions Weight | 0.14 % | |||
| Bond Positions Weight | 69.69 % |
About Mackenzie Core Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Mackenzie Core Plus's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Mackenzie Core using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Mackenzie Core Plus 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 Mackenzie Core
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 Mackenzie Core 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 Mackenzie Core will appreciate offsetting losses from the drop in the long position's value.Moving together with Mackenzie Etf
| 0.92 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.93 | XBB | iShares Canadian Universe | PairCorr |
| 0.93 | ZCPB | BMO Core Plus | PairCorr |
| 0.91 | ZDB | BMO Discount Bond | PairCorr |
| 0.84 | XGB | iShares Canadian Gov | PairCorr |
The ability to find closely correlated positions to Mackenzie Core could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mackenzie Core 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 Mackenzie Core - 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 Mackenzie Core Plus to buy it.
The correlation of Mackenzie Core 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 Mackenzie Core moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mackenzie Core Plus 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 Mackenzie Core 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 Mackenzie Etf
Mackenzie Core financial ratios help investors to determine whether Mackenzie 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 Mackenzie with respect to the benefits of owning Mackenzie Core security.