Ishares Gold Bullion Etf Market Value
| CGL-C Etf | CAD 31.51 0.29 0.93% |
| Symbol | IShares |
IShares Gold '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 IShares Gold'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 IShares Gold.
| 11/28/2023 |
| 11/22/2024 |
If you would invest 0.00 in IShares Gold on November 28, 2023 and sell it all today you would earn a total of 0.00 from holding iShares Gold Bullion or generate 0.0% return on investment in IShares Gold over 360 days. IShares Gold is related to or competes with Global Atomic, EnCore Energy, Fission Uranium, NexGen Energy, and Sprott Physical. The investment seeks to replicate, net of expenses, the price of gold bullion More
IShares Gold 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 IShares Gold'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 iShares Gold Bullion upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8539 | |||
| Information Ratio | 0.0293 | |||
| Maximum Drawdown | 4.21 | |||
| Value At Risk | (1.11) | |||
| Potential Upside | 1.28 |
IShares Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for IShares Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as IShares Gold's standard deviation. In reality, there are many statistical measures that can use IShares Gold historical prices to predict the future IShares Gold's volatility.| Risk Adjusted Performance | 0.1255 | |||
| Jensen Alpha | 0.141 | |||
| Total Risk Alpha | 0.0171 | |||
| Sortino Ratio | 0.0279 | |||
| Treynor Ratio | (0.69) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of IShares Gold's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
iShares Gold Bullion Backtested Returns
Currently, iShares Gold Bullion is very steady. iShares Gold Bullion holds Efficiency (Sharpe) Ratio of 0.19, which attests that the entity had a 0.19% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for iShares Gold Bullion, which you can use to evaluate the volatility of the entity. Please check out IShares Gold's Risk Adjusted Performance of 0.1255, downside deviation of 0.8539, and Market Risk Adjusted Performance of (0.68) to validate if the risk estimate we provide is consistent with the expected return of 0.15%. The etf retains a Market Volatility (i.e., Beta) of -0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning IShares Gold are expected to decrease at a much lower rate. During the bear market, IShares Gold is likely to outperform the market.
Auto-correlation | 0.89 |
Very good predictability
iShares Gold Bullion has very good predictability. Overlapping area represents the amount of predictability between IShares Gold time series from 28th of November 2023 to 26th of May 2024 and 26th of May 2024 to 22nd 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 iShares Gold Bullion price movement. The serial correlation of 0.89 indicates that approximately 89.0% of current IShares Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.89 | |
| Spearman Rank Test | 0.8 | |
| Residual Average | 0.0 | |
| Price Variance | 2.9 |
iShares Gold Bullion lagged returns against current returns
Autocorrelation, which is IShares Gold 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 IShares Gold's etf expected returns. We can calculate the autocorrelation of IShares Gold returns to help us make a trade decision. For example, suppose you find that IShares Gold 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 |
IShares Gold 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 IShares Gold etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if IShares Gold etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in IShares Gold etf over time.
Current vs Lagged Prices |
| Timeline |
IShares Gold Lagged Returns
When evaluating IShares Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of IShares Gold etf have on its future price. IShares Gold 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, IShares Gold autocorrelation shows the relationship between IShares Gold etf current value and its past values and can show if there is a momentum factor associated with investing in iShares Gold Bullion.
Regressed Prices |
| Timeline |
Pair Trading with IShares Gold
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 IShares Gold 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 IShares Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with IShares Etf
Moving against IShares Etf
| 0.71 | TCLB | TD Canadian Long | PairCorr |
| 0.32 | ZAG | BMO Aggregate Bond | PairCorr |
| 0.31 | XBB | iShares Canadian Universe | PairCorr |
The ability to find closely correlated positions to IShares Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IShares Gold 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 IShares Gold - 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 iShares Gold Bullion to buy it.
The correlation of IShares Gold 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 IShares Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Gold Bullion 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 IShares Gold 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 IShares Etf
IShares Gold financial ratios help investors to determine whether IShares 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 IShares with respect to the benefits of owning IShares Gold security.