3iq Bitcoin Etf Market Value
| BTCQ Etf | CAD 22.10 0.23 1.05% |
| Symbol | 3iQ |
3iQ Bitcoin '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 3iQ Bitcoin'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 3iQ Bitcoin.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in 3iQ Bitcoin on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding 3iQ Bitcoin ETF or generate 0.0% return on investment in 3iQ Bitcoin over 180 days. 3iQ Bitcoin is related to or competes with Purpose Bitcoin, 3iQ CoinShares, and BetaPro Inverse. 3IQ COINSHARES is traded on Toronto Stock Exchange in Canada. More
3iQ Bitcoin 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 3iQ Bitcoin'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 3iQ Bitcoin ETF upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.15 | |||
| Information Ratio | 0.2056 | |||
| Maximum Drawdown | 15.24 | |||
| Value At Risk | (3.52) | |||
| Potential Upside | 6.51 |
3iQ Bitcoin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 3iQ Bitcoin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 3iQ Bitcoin's standard deviation. In reality, there are many statistical measures that can use 3iQ Bitcoin historical prices to predict the future 3iQ Bitcoin's volatility.| Risk Adjusted Performance | 0.1954 | |||
| Jensen Alpha | 0.6621 | |||
| Total Risk Alpha | 0.2818 | |||
| Sortino Ratio | 0.3207 | |||
| Treynor Ratio | 0.6655 |
3iQ Bitcoin ETF Backtested Returns
3iQ Bitcoin appears to be not too volatile, given 3 months investment horizon. 3iQ Bitcoin ETF secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the etf had a 0.24% return per unit of risk over the last 3 months. By analyzing 3iQ Bitcoin's technical indicators, you can evaluate if the expected return of 0.81% is justified by implied risk. Please makes use of 3iQ Bitcoin's Mean Deviation of 2.53, downside deviation of 2.15, and Risk Adjusted Performance of 0.1954 to double-check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 1.22, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, 3iQ Bitcoin will likely underperform.
Auto-correlation | -0.43 |
Modest reverse predictability
3iQ Bitcoin ETF has modest reverse predictability. Overlapping area represents the amount of predictability between 3iQ Bitcoin time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd of November 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 3iQ Bitcoin ETF price movement. The serial correlation of -0.43 indicates that just about 43.0% of current 3iQ Bitcoin price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.43 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 7.96 |
3iQ Bitcoin ETF lagged returns against current returns
Autocorrelation, which is 3iQ Bitcoin 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 3iQ Bitcoin's etf expected returns. We can calculate the autocorrelation of 3iQ Bitcoin returns to help us make a trade decision. For example, suppose you find that 3iQ Bitcoin 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 |
3iQ Bitcoin 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 3iQ Bitcoin etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 3iQ Bitcoin etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 3iQ Bitcoin etf over time.
Current vs Lagged Prices |
| Timeline |
3iQ Bitcoin Lagged Returns
When evaluating 3iQ Bitcoin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 3iQ Bitcoin etf have on its future price. 3iQ Bitcoin 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, 3iQ Bitcoin autocorrelation shows the relationship between 3iQ Bitcoin etf current value and its past values and can show if there is a momentum factor associated with investing in 3iQ Bitcoin ETF.
Regressed Prices |
| Timeline |
Pair Trading with 3iQ Bitcoin
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 3iQ Bitcoin 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 3iQ Bitcoin will appreciate offsetting losses from the drop in the long position's value.Moving together with 3iQ Etf
Moving against 3iQ Etf
| 0.99 | BITI | BetaPro Inverse Bitcoin | PairCorr |
| 0.59 | TCLB | TD Canadian Long | PairCorr |
| 0.45 | HUV | BetaPro SP 500 | PairCorr |
| 0.36 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.36 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to 3iQ Bitcoin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 3iQ Bitcoin 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 3iQ Bitcoin - 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 3iQ Bitcoin ETF to buy it.
The correlation of 3iQ Bitcoin 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 3iQ Bitcoin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 3iQ Bitcoin ETF 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 3iQ Bitcoin 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 3iQ Etf
3iQ Bitcoin financial ratios help investors to determine whether 3iQ 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 3iQ with respect to the benefits of owning 3iQ Bitcoin security.