Manulife Smart Dividend Etf Market Value
| CDIV Etf | CAD 15.32 0.06 0.39% |
| Symbol | Manulife |
Manulife Smart '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 Manulife Smart'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 Manulife Smart.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Manulife Smart on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Manulife Smart Dividend or generate 0.0% return on investment in Manulife Smart over 30 days. Manulife Smart is related to or competes with IShares Diversified, IShares SPTSX, and IShares SPTSX. MANULIFE SMART is traded on Toronto Stock Exchange in Canada. More
Manulife Smart 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 Manulife Smart'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 Manulife Smart Dividend upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.541 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 3.46 | |||
| Value At Risk | (0.71) | |||
| Potential Upside | 0.9194 |
Manulife Smart Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Manulife Smart's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Manulife Smart's standard deviation. In reality, there are many statistical measures that can use Manulife Smart historical prices to predict the future Manulife Smart's volatility.| Risk Adjusted Performance | 0.1643 | |||
| Jensen Alpha | 0.0881 | |||
| Total Risk Alpha | 0.0238 | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.6112 |
Manulife Smart Dividend Backtested Returns
As of now, Manulife Etf is very steady. Manulife Smart Dividend has Sharpe Ratio of 0.19, which conveys that the entity had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for Manulife Smart, which you can use to evaluate the volatility of the etf. Please verify Manulife Smart's Mean Deviation of 0.4192, downside deviation of 0.541, and Risk Adjusted Performance of 0.1643 to check out if the risk estimate we provide is consistent with the expected return of 0.1%. The etf secures a Beta (Market Risk) of 0.18, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Manulife Smart's returns are expected to increase less than the market. However, during the bear market, the loss of holding Manulife Smart is expected to be smaller as well.
Auto-correlation | -0.01 |
Very weak reverse predictability
Manulife Smart Dividend has very weak reverse predictability. Overlapping area represents the amount of predictability between Manulife Smart time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Manulife Smart Dividend price movement. The serial correlation of -0.01 indicates that just 1.0% of current Manulife Smart price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.01 | |
| Spearman Rank Test | -0.59 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Manulife Smart Dividend lagged returns against current returns
Autocorrelation, which is Manulife Smart 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 Manulife Smart's etf expected returns. We can calculate the autocorrelation of Manulife Smart returns to help us make a trade decision. For example, suppose you find that Manulife Smart 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 |
Manulife Smart 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 Manulife Smart etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Manulife Smart etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Manulife Smart etf over time.
Current vs Lagged Prices |
| Timeline |
Manulife Smart Lagged Returns
When evaluating Manulife Smart's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Manulife Smart etf have on its future price. Manulife Smart 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, Manulife Smart autocorrelation shows the relationship between Manulife Smart etf current value and its past values and can show if there is a momentum factor associated with investing in Manulife Smart Dividend.
Regressed Prices |
| Timeline |
Pair Trading with Manulife Smart
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 Manulife Smart 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 Manulife Smart will appreciate offsetting losses from the drop in the long position's value.Moving together with Manulife Etf
| 0.97 | ZWC | BMO Canadian High | PairCorr |
| 0.95 | XDV | iShares Canadian Select | PairCorr |
| 0.97 | CDZ | iShares SPTSX Canadian | PairCorr |
| 0.96 | PDC | Invesco Canadian Dividend | PairCorr |
| 0.98 | XEI | iShares SPTSX Composite | PairCorr |
Moving against Manulife Etf
The ability to find closely correlated positions to Manulife Smart could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Manulife Smart 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 Manulife Smart - 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 Manulife Smart Dividend to buy it.
The correlation of Manulife Smart 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 Manulife Smart moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Manulife Smart Dividend 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 Manulife Smart 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 Manulife Etf
Manulife Smart financial ratios help investors to determine whether Manulife 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 Manulife with respect to the benefits of owning Manulife Smart security.